Al though a wedge top has formed on USDINR.
Reserve Bank of India may be a villian and stop Indian rupee from appreciating. i.e. stop USDINR falling too far.
USD is making some serious inroads. INR trailing behind unable to maintain the equilibrium.
83.4210 is the current ATH. Today we went up to 83.3010. TVC:DXY at 107.
Continued FII selling will only add fuel to the fire. When the Indian media houses are gung-ho about the decadal that belongs to India & its growth story - the people outside are not that...
The USD INR brackout is negative for the import company & also the Fiscal Deficit increse, but this is good for exporting company: my view this brackout is not good for the indian economic.
Rupee is gearing up for move if dollar index starts closing below 99 then rupee will move towards 80 & 78. If dollar index move towards 104 then rupee can give more above 83 towards 85 & 87 then Bank Nifty also take back seat & IT sector move. Trade with stoploss & happy trading.
Hello Friends
Here we had shared possible Elliott wave counts on chart of USDINR, which is clearly showing that on bigger scale we are in 5th wave of some higher degree, in which we had finished wave (1)-(2)-(3) and currently we are in either in wave (4) or in wave 2 of wave (5).
Also both scenarios are discussed in this video post, you can go through this video...
Indian rupee looks too weak and is getting ready for another fall against US DOLLAR , another 2-3% depreciation can be seen in Rupee in coming days , confirmation is below level of 0.01207 (above 83rupees)
FX_IDC:USDINR
Analysis on 12th December 2022
>Wave Count - Possibly Beginning of Correction Wave C on bigger cycle.
>Strength - Between the both the tops shown in chart there is a Berish Continuous Divergence.
USDINR possible and aligned Elliott wave structure of multi time frames from monthly to hourly.
Monthly chart
Weekly chart
Daily chart
4 Hourly chart
1 Hourly chart
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USDINR does not seem to come down with global inflation and Russia Ukraine war going on. With Fed Chair Powel testimony on 22-06-2022, he has clearly said that recession should not be provoked. It means that though inflation in US is on higher side Fed is highly unlikely to increase interest rate by 100 bps. According to a poll by Reuters experts see a similar...
Interesting Price Action and charts pattern are being observed in USD/INR currency pairs.
1. The Cup and Handle Formation.
Cup formation can continue or Handle pattern can be formed and price can shoot up. As global situations are pacifying. We believe, rupee
should get bit stronger.
2. All time high Resistance
We...
usdinr
as per chart
usd getting power
while inr loosing the same
the pair given a breakout
thus shorting inr and buying usd as per above will work
usd may move beyong 75.5 zone as well
while support at 73 areas
