". There is a possibility of temporary retracement to the suggested support line (0.9163).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. USDCHF is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
A "long legged Doji" is a fancy name and shows indecision in the market. Since it formed after a strong bullish candle, the dollar might grow weaker against the rupee in a short term as RSI is over bought or stay range bound. This is a speculation because market may take move in any direction. Most analysts would want to watch the next few candles to check the...
USDCAD has taken a reversal from 1.20200 in the weekly time frame with two Doji candles with good confirmation but volume is not supported so we can look at the first target of it is 1.26500 which is at a 0.23% level of Fibonacci
the one fundamental thing that is help it is the rising of the US Dollar
Trade is not recommended
Comment your views
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As we can see, the price has hit its RESISTANCE and is falling down.
Let us know your views on this in the comment section. Thank you all.
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USDINR DOW theory Weekly View from Monday 14Jun2021
Uptrend in Daily Timeframe
USDINR has broken out of a triangle/flag pattern
Retest of the same is expected to go higher.
However, gap up possibility is also considered, if this happens we are super bullish on it if it stays above the gap for at least an hour.
Details given on the chart.
Happy Trading !!!
Everything explained in chart...
Sold Put options of lower strikes and next expiry...
Disclaimer : This is a trading idea for learning. No trading call. Keep your stop losses and risks within your limits.
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
1. We are little late to enter hence SL is a bit wide i.e. 253
2. Triangle pattern breakout has been done with some good volumes
3. 50% positions can be initiated now and rest 50% only upon any pull near around breakout levels
". There is still a possibility of temporary retracement to the suggested resistance line (1.416).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. GBPUSD is in a range bound, and the beginning of a downtrend is expected.
. The price is above the 21-Day WEMA, which acts as...