US dollar Indian rupee Daily elliott wave analysis It is better to keep in Us dollars rather than in Indian rupee Expecting a sharp depreciation in Indian rupee post the budget
USDINR face fine support within (64.70-64.80) and a multiple time test of this range sees a clear divergence with the MACD indicator. On the higher time frames, momentum indicators too have created a divergences which suggest that the Dollar will try to appreciate from current prices. However we should wait for a confirmed break above 64.90 for further upsides...
USD:INR is in a downtrend so on every rise 2%-3% sell on rise strategy wil work very good with a good stop loss. In my view it is going down between 58.50-58.00
Short USDINR between 65.245 and 65.470 T1: 64.800 T2: 64.035 T3: 63.535 T4: 63.250 SL: 66.122
Just to put in a prospective, following traditional technical analysis can lead to good trades and necessarily no need to trade every other day. It is question to be asked if fundamental make the technical or fundamental can be predicted by the technical. Nevertheless it is always to good to have both technical and fundamental knowledge in your trading arsenal.
Ascending Triangle pattern formation on USDCAD. Trade: Long Entry - 1.24430 Target - 1.26630 Stop loss - 1.22250
USD INR Spot at 65.05, after 4 months, i'm expecting if market holds 64.90, would break 65.20, 65.60 then 66.10. on the other hand support is at 64.70, then 64.30.. most probably it's expected on higher side exporter should hedge at least 50% of their exposer, at 65.20 Spot for next 2 months. and importers hedge at 64.90.. if break it then at 64.70..64.30....in...
usd will resume downtrend below 63.38 upto 60.35 this will be negated above 65.00
USDINR has been forming broadening wedge pattern. SL: 64.3 Target: 63.6 Regards, tRex Jurassic Park
USDINR seems to be taking too long deciding a break out of the range of Rs 65 and Rs 64. Keep an eye on Rs 63.95....
Rounded Bottom pattern formation on EURUSD and it will break on upside. Trade: Buy above - 1.15315 Target 1 - 1.19027 Target 2 - 1.22900 Stop Loss - 1.09915
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
Currently BitCoin has started to show up Signs that it might crash back to $1150 very soon. Their are couple of patterns in charts that i look for which are probably best for reversal indication and they are forming up in higher time frame charts of bitcoin. but there is more.. 1- BitCoin Has recently broken above a long term curve at 1500, but there is very less...
The uncertainty of the upcoming french elections as well as the weakening US dollar will make the EUR touch its long term resistance @ 1.0778-1.08.
STEEM has had a great rally this past week, with BTC rallying, Its time for the alts to consolidate and bottom out before the new alt season. STEEM is expected to fall back to the 33-35k sats support region before its next rally.