The weekly chart of the USD INR is the ascending trangle pattern formation: In the techanical view the probability of the brackout is high as compare to the brackdown.
Currently the crude price hike, this is negative effect the USDINR
Next year is the election, previous chart patter show election year Rupee is fall
Foreign investor sold the indian market
Rupee is gearing up for move if dollar index starts closing below 99 then rupee will move towards 80 & 78. If dollar index move towards 104 then rupee can give more above 83 towards 85 & 87 then Bank Nifty also take back seat & IT sector move. Trade with stoploss & happy trading.
This is the plan of USDINR breakout for next upcoming seasons according to price action advanced analysis upcoming target of this currency pair apx is 6-7% in one month
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 !!!!!!
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...
1st BUY 82.02 (30% of your capital)
2nd BUY 81.73 (30% of your capital)
3rd BUY 81.43 (30% of your capital)
A margin call of 10% must be maintained.
Note: Only buying (long FUT or Monthly CALL) is recommended here; no shorting or bearish trend is recommended; almost all events are happened so strong naturals (above > 82.39); do not buy weekly CALL options and...
Please keep in mind that this is only for futures and positional traders.
You can buy USDINR in 3 different buy zones, as mentioned (Buy zone 1, Buy zone 2, Buy zone 3).
There is NO-STOPLOSS; simply purchase as much as you can. Don't panic if it reaches Zone 3; instead, buy as much as possible.
It is important to note that this view is for the next three months...
FX_IDC:USDINR seems to be forming Truncated 5th Wave.
Lot of selling pressure at 83 with RSI negative divergence suggesting momentum Fading.
Unless 83 is Taken out on closing basis. It could turn out to be Wave 5 Truncation as per Elliottwave Theory.
USD-INR after such a steep rise looks like it is in the 5th wave of bigger degree .
Within this bigger 5th wave, which should ideally be the last wave of a Major Rise, normally consists of 5 sub waves in smaller degree .
Now, Market is looking in 3rd wave of sub degree of bigger 5th wave that I was talking about in the previous two lines.
In FX_IDC:USDINR here are the features we can see:
There is a clear bullishness throughout the session. I would say Very Bullish. All candles are hollow and green in hourly charts.
There is a bearish divergence in the #USDINR hour chart. Price highs are not sustained by RSI new highs - shown in the photo
Most likely: the uptrend will pause as there is...
USDINR is in Overbought region, With confluence of two Harmonics Pattern we may have opportunity to Short sell near PRZ levels
Shorting Range - 78.3150 to 78.4286
Can this happen with USDINR? time will tell, pattern suggest, chart patterns suggest 49 and then 39 as targets in years to come.
Use discretion! not a trading recommendation
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USD INR is seen to have completed its 5th wave of a smaller degree of bigger wave 3rd.
It should come lower and this can boost Nifty a bit at the least.
This is based on Elliott Wave Theory.
OANDA:USDINR
The chart is self explanatory. It is taking support from the bottom , making a wedge pattern .
This is not an trading idea . Just for education
Happy trading
