The script made a double bottom pattern on weekly chart near important support zone. I am expecting an up move from here onwards.
Usd struggles to go upward very to near to break the trendline . if breaks than good fall expected
USDZAR has retraced back to 18.00 price, we are looking forward to see bearish movement as we have reached our resistance zone. Use proper risk management. Lets Download Success.
No other trade Other than 28th March Straddle/Strangle Or Iron fly/condor. Range: 82.25-83.00, pivot at 82.75 Means: IronFly: 82.75 call & put sell, 83.00 call, 82.25 put hedge leg. Per OI: 83.00 upper, 82.50 lower. Per lot margin: ~2000
USDINR - Ascending Triangle Formation is complete only waiting for the breakout. Which side breakout will happen? 1. Upside 2. Downside
From Price Action, data etc its very clear 82.50 is acting as support and 82.75 and 83 as Resistance for rest of march 2023 month...... I think before march expiry 83 will be tested at least once !!!!!!
USDINR can be shorted here, a good strategy will be playing with put spread.
In the past times, USDINR is trying to hold its level and now we can see more rise above the levels Characteristics of Triangle pattern A pattern that has the following characteristics is more effective. + Before breaking out, prices need to touch both resistance and support levels at least twice each for the pattern to take effect. + This pattern gives a...
Finally a candle breaking out the angular flag Trend line on the upside which was awaited.... So, not we can get ready to see an aggressive move above this resistance. T1 : Target 1 - Flag's length T2 : Target 2 - Pole's length Strategy to be used can be Bull Call Spread (aggressive way) & Bull Put Spread (conservative way)
as on 10 march closing usdinr price is at multi month support line, friday RBI FX data indicated RBI bought 2.5 Billion dollars. so till this support line holds one can buy usdinr for Target of 83. Pattern looks ascending triangle till now. on 13th march opening and closing price is above this trend line then we can see 83 in march 23 for sure.
Two week of the balance zone is disturbed and the balance zone is broken. USDINR unable to onboard new buyers in this zone. Triple top formed and trend reversal confirmed. In the short term it may test 81.60 to 81.80 levels to attract buyers. If it fails to attract, the next key level is 80.80.
USDINR is in a range since Oct 2022 Likely to break out of this 4 month range to give good targets Targets analyzed & marked in chart as per flag length considered at higher low and breakout point. But if the price action shows a Bearish Candle at third top, it is likely to swing down & retrace before breakout. Range for Feb could be 83.25 - 82.5
USDINR hovering between the marked suppy demand zones as per present price action.
I am sharing my view on USD INR Movement as of now and predicted the two possible moves on the chart. The chart is moving in a range since 14 Feb 2023 and shrinking all the way to form an ascending triangle. I have tried to wind up its movement as shown in the chart. As USDINR has already tested the resistance level 1, 5 times, and thus the probability of...
USDZAR has been on a bullish trend for some time, bears are trying to take over. Lets Download Success .
USD INR attempting breakout from triangle pattern on 1D timeframe. Enter after bullish confirmation. Buy limited quantity and follow proper risk management as RBI can initiate selling of USD any time.