USD INR has been respecting Harmonic Trading Patterns at every stage. Will it oblige this time too? If yes then if 73.25 holds 74.50 (falling trend line) could be retested.
USDINR Gartley pattern showing clear Bullish Reversal from D point, Which creates buying points at Rs.73.3560 with an SL at 73.20. Target - 1: 75.0215 Target-2: 74.6662
Note: This is for educational purpose only. There seems to be a bullish hammer at support with rise in volume. Moreover, there seems to be a bullish RSI divergence.
Usdinr Currently at overbought zone on the daily time frame. price is in a downtrend parallel channel and can continue till 72.20 or it can happen if it crosses recent high 74.50 after giving a small pullback to 73.53. price 73.53 is a crucial level to change the direction of either side but most probably 72.20 can be achieved by the end of December 2020.
Key Zone - 72.50 / 73.00 Holding The Key Zone - Expect Upside - 74.00 / Strictly Above 74.00 for 75.00-75.20 Falling Below 72.50 / 73.00 Downside Key levels - 70.70 / Falling strictly below 70.70 for 68.00-68.30 ------------------------------------------------------------------------------------------------------------------------ Last USDINR Idea -...
I hope you can now see how USDINR represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Disclaimer: It should not be assumed that the...
A good opportunity for USDINR Short (trend line breakout on downside)
USDINR has been consolidating since one week and tried to form a base (at the demand zone). In Previous day session it broke its resistance (73.65), and sustained above it. At current level it is looking good for long with good R:R, Minor hurdle at 73.9.
Note: This is for educational purpose only. There seems to be a bearish breakout in USDINR with ultra high volume. However, RSI is below 30 which indicates oversold. Don't aggressively short this pair. There is a possibility of some bounce back before the next down fall.
73.50, 72.14 will reach by October to November end
Bearish usdinr is more to fall bellow 74.50 and 74. as the Indian market is bullish currently usdinr will appreciate more simple logic.
Recently usdinr faced huge volatility but the direction is as usual Unpredictable. This is an range marked price action and nothing special.
74.66, 75.22, 75.47 three higher lows breaking out from long consolidation pushing price extremely higher highs. Reasons: 1. Nifty fall and gain 2. consolidation break out and pullback 3. bullish divergence on oscillators 4. Bullish structure.
PRZ - 75.310/75.320 SL 75.295 Target 1 75.365 Target 2 75.395
Long some USD / INR Basis:- 1. Monthly and weekly RSI above 60 2. Unbroken uptrend indicated by trend line and 5SMA crossing 20 SMA from bottom 3. Hammer like candle formations indicated by arrows 4. Good volumes indicated by arrows 5. Fibonacci retracement level of 61.8% and 78.6% crossed Target indicated by Horizontal line around 77 INR Stoploss as per...
A small slow pullback to 75 and then drop below today's low to 74.50 noted. Reasons: 1. Rsi divergence 2. Price closing lower low 3. Price following a downward slope parallel channel 4. There's a 50 and 618% retracement at 75.00 Check Jpyinr idea here link down below
USDINR in a range b/w 75.40 - 77.26 ..In last trading session INR shown strength and touch 76.38 level .Now once bear start moving below 76.35 can push towards 75.95. 21th April is major trend change date. Weekly Trend Change: 76.67 Weekly Resistance:76.95,77.25,77.51 Weekly Support:76.25,75.95,75.55 Levels Mentioned are for April Contract of USD INR