as the Indian equity market little revive usdinr will retrace somewhere around 70.50 and 70.32.
Confluences & Reason:
1. Bearish Rsi divergence on the daily time frame.
2. Pattern rising wedge broke out to the downside.
3. pivot level fib 38% and 50% retracement price at 70.32.
Sell At 71.4725 Stoplss 72.900
Reasons for Trade-1.Price formed bearish candlstick pattern near daily resistance
2.Daily Trend is down
3.Price reacted from important fibo level of 61.8%
4.Risk Reward 1;2
it seems an ending diagonal has formed and a bear divergence on the rsi can favor a bearish dip. it might open a new door to big players accumulate but if price really holds 70.65 and 70.32. otherwise it will drive into bearish trend. following long time frame usdinr does not look it will enter into bear trend certainly as usdinr having no favorable sentiment. ...
Hi, we saw USDINR's 2018 move from 68.31 to 74.48 and now we are on the same phase of market cycle from 1 august to october 10. 2018. I'm expecting same market cycle in 2019 along with other three INR pairs EURINR, GBPINR, and JPYINR. do your maths.
I'll keep updating when I see new opportunity. Thanks!
Be neutral. empty your brain. learn and unlearn. abandoned...
Discretion!! I am only 35% of the time right in my analysis and 65% wrong. I still make money but I can't gaurantee yours money management and position sizing is really matters if you don't know how educate yourself.
Reasons for shorting: We got a bearish divergence at 4h time frame, daily trend is still remain bearish, weekly time frame price gave a currection...
USDINR 4hr time frame, upcoming week usdinr may seen bullish.
On the daily time frame we can clearly see a bullish engulfing candle closed. on the four hour time frame there can be create a inverse H&S if price gives pullback from 68.79 to 68.44. 4hr time frame rsi is diverging as bullish. daily time frame rsi is oversold and made double bottom. weekly time rsi...
USDINR broke out all time support level 68.32 and enters into bearish teritoy and remain bearish from Jun 17/2019 high 69.95. current price is 68.23 following this trend we can expect futher down to 67.86 and 67.50 in a short period.
Today's Gaped down usdinr and other 3 pairs eurinr, jpyinr, gbpinr gaped up. following J. powell cuts fed rate again and other...
#USDINR bullish short term target 69.80.
Fundamentals. #wtiCrudeoil will back up this week from 54 to 56, cues RBI has puts out revised circular on stressed assets, and rate cut policy still in effect.