With a possibility of Dollar rise, good change that USD/INR will rise as well.
INR breaking previous trendline and EMA on daily charts. Closing will be crucial.
Buy around 72.50-72 sl 71 TGT 78-80 Disc - it's not an advise to buy or sell
Parallel channel breakdown
Long... .... INR will be weak in the coming days.... Target- 78 .... .... Comment your Views... .. plz, Support the idea by clicking LIKE button... .. Thank You, @VishwajeetSharma
The first leg of irregular correction has started to appear from 77.01. Now a trading opportunity is visible on price charts which can drag prices lower to: i) 74 being 100% extension of wave A in an ideal case ii) 73.22 being 138.2% extension of wave A in most cases iii ) 72.70 being 161.8% extension of wave A on rare occasion A break below 75.40 would provide...
In this current crisis, Could a Cup and Handle Pattern be forming? Will we see 1USD = Rs.78 - Rs.80 ??
INR will be weak in the coming months. Target expecting beyond 84.
Trading Strategies Plan A - Risky Traders Buy with strict stops below 70.35 for 72.25 Buy above 72.50 for 74.50 Buy above 74.50 for 75.50-76 handle Plan B- Safe Traders (Post Pattern Breakout on upside) Buy only above 72.25 for 74.50 & above targets as mentioned in Plan A Note - If USDINR moves in desired direction as expected upside holding...
USDINR after reaching its high level range 72.20 is trying to test -- support range of 71.20-71.40 Any break down in any levels may lead to the further down levels of 70.48. On the Resistance side, it may test 72.53 & 73 levels in the coming days. Be Cautious with each trade. -- Market Commentary|Investiture.in
Though I'm just learning but this seems to be a Flag Breakout and we can buy at market or on some dips upto 70.30 for medium to long term targets of 75, 78 & 80 with a closing basis stop loss below 68. If I'm mistaken then please do correct me as I'm always open to learning the technical patterns and concepts. Thank you.
The USD/INR on the weekly chart is forming a wedge pattern. 68.2 is also a key support for USD/INR. If the wedge breaks out on the upper side then it can go till 70 as of now.
NEW ALL TIME HIGH MUST BE INCOMING IN USD INR ...THAT MEANS BAD ...WORSE FOR INDIAN ECONOMY ..I ASSUME TILL END 2019 WE CAN SEE NEW ALL TIME HIGH IN USD INR . THAT MEANS I WILL HEDGE MY ASSET VALUED IN INDIAN RUPPEE ..INTO DOLLAR OR WILL LONG THE USD INR PAIR .
USDINR seems to be forming irregular flat and is expected to take prices above 70.50 in wave C. Further confirmation for the move can be seen when prices starts moving above 69. The supports of 68.20 are expected to be held in this up move.
Hi Guys, It looks like USDINR have made a bottom for now at around 68.25 and is willing to go higher. Expected move for USDINR might look like shown into the chart according to Support/Resistance and Fibonacci Levels.