After breaching the all time high on AUG 14, Analysts would be looking at USD/INR's market action in the coming weeks, If the move sustains, the new 'normal' would be between 71-75 for USD/INR as per monthly charts.
USD/INR long From 72.8000 Target Point 74.3000 Stop Loss 7250 Stay Tuned.......!! Learn Here , Earn EverWhere
one day candle should close above the prescribed buy level refer chart for details it is so bullish will reach that level
USD seems to have bottomed out with clear recovery and short term bullishness.
CHART IS SELF EXPLANATORY.
Momentum indicators are showing negative divergence in INR. targetting 66.50
RESISTANCE AT 66-67 .A BREAK ABOVE 67 CAN TAKE IT TO 69-71 LEVELS. 64 STRONG SUPPORT.USD BEARISH BELOW 64
Ascending Triangle pattern formation on USDINR and the price near to the DEMA 200. Trade: Buy above - 65.025 Target 1 - 65.525 Target 2 - 66.135 Stop Loss - 64.295
Talking Points: Technical Strategy: Bearish Elliottwave Count: Either wave (C) continuation or B wave of (B). HTG Note: Larger outlook on weekly chart is showing weakness on long and short term. EURO vs Indian Rupee price is testing weekly trend line. Last time this line was tested on September, 2015 and post that we seen nice pullback towards 77.80...
Balance B/O , SL 66.20 (if it enters upper balance), target 1 isPOC of lower balance which is around 65.25 and target 2 is lower bracket of balance around 64.3
Today the market is almost at the same point it was a year ago. So during the year the market at seen quite a bit of a roller coaster. This year the Indian indices have been strongly affected by the USD strength. This chart is a correlation between the two variables, the USD and INR. The chart on the top shows a strong negative correlation between the two...