AbhishekHSinghCMT
Education

Dollar Index & Rupee - Explosive Move from 88 lows- What Next?

ICEUS:DX1!   US DOLLAR INDEX FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT)
Good Morning All!

Wishing you happy trading week ahead


Important Support Zone - 88.00 to 88.25

Have discussed about following instruments
  • Dollar Index
    India Rupee Last Idea
    AUDUSD in the rupee idea


When I wrote or published my first piece on dollar index in year 2016 - I was pretty sure we are going to have or see a stronger dollar in days & years to come ahead.

We adjusted our count & moved wave 4 bottom at 88.25 lows assuming to be a larger flat in shape suggesting us that we have stronger dollar to come next as compared to wave 4 triangle earlier.

Explosive move from 88.25 lows turned everything in favour of dollar bulls & gave the first clue of a stronger dollar which is yet not finished.
Going ahead – It could travel to 105 & more possibly 110 levels next on upside

Note-

Holding 88.25 as most important low it can move upside & breach of recent low -88.25 could violate all counts & views suggested ahead.

Short Term Strategy

Push from 88 lows to 97 Highs recently is impulsive in nature where 93.00-93.50 could be next support zone for a higher push upside.

Long Term Strategy

Equality Target of Wave 3 distance which comes to 110 could be plausible target on upside & minimum distance of 103-105 zone would be next step ahead.

Do not take this as suggestion to buy /sell & consult your financial advisor for creating any position/positions in the market.



Dollar Rupee Updates - Getting Most Important Clue from Inverse AUDUSD


India Rupee as suggested last in the comments to a colleague -not to jump at 72.50's -wait for correction in dollar rupee to 68.50-69.50 - happy to see that -Dollar Rupee had a fall from 73 Highs to 71.80
Next Support Comes at 70.50-70.75 zone -Going below 70.50 we shall look for 69.50-69.75 zone


Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
If we consider target "C" between 110-115, where would be our INR? 😊😊😊👍👍👍
Reply
@milind1126, Atleast 80 & above that would be minimum it travels next but we won't hurry & move in steps.
Reply
milind1126 AbhishekHSinghCMT
@AbhishekHSinghCMT, Are you see 80 before Elections by Jan-Feb 2019? Then what will be Nifty target?
Reply
@milind1126, We got the crack right at the top@11760 highs & waiting for 10900-10925 -all levels mentioned in my earlier idea & strategy as well. went long at 11300 & took rest at 11475-11500 -all done & out.
Reply
milind1126 AbhishekHSinghCMT
@AbhishekHSinghCMT, Thanks Abhi.... 👍👍👍
Reply
@milind1126, Cheers!
Reply
milind1126 AbhishekHSinghCMT
@AbhishekHSinghCMT, Today INR opens with huge Gap up. Will it sustained? And if not & comes down to fill Gap or RBI will intervene & sell USD then Nifty will recover bit. As it is Nifty filled the previous Gap.
Reply
@milind1126, Likely not & will take support in 70.50-70.75 zone or below 70.50 as suggested on earlier rupee idea to a colleague as 68.50-69.50 as stronger support zone & dollar picking zone
Reply
milind1126 AbhishekHSinghCMT
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out