This year, SPX is up 8.84% compared to Nifty50 up 4%. Nifty50 is plotted in USD currency so that the comparison makes more sense. If you also look at the price actions, both the charts are showing good correlation. It will be interesting to find out how Nifty50 will close the 4.84% gap. USDINR is up 0.59% year to date.
THIS IS MY IDEA READY TO SHORT FIRST TARGET 4015 2° TARGET 3960
BUY DXY above 90.72 for target of 92.14, SL 90.13 This will be bearish for equities and commodities
Keep the eyes open for next week. US500 Weekly chart closed with an hanging man pattern at the end of a wedge pattern indicating a strong weakness of the price. When looking at the H4 chart we see an Head and Shoulder pattern set up with the top of the right should formed with a potential double top. Next steps: - Wait for double top confirmation on...