Watch out for trend reversal USDINR At resistance
Possible Top is formed with Fake Breakout and strong inverted hammer. View : Sideways to Bearish Resistance @ 74.75 Support at 74 Short Straddle 74.75 or 74.5 Strike is possible Or my favourite Bear Call Spread. Sell 74.75 CE and buy 75 CE this must be done on bounce, if we get one for this week's expiry.
USDINR formed a bearish divergence Carrying a bear call spread for this week's expiry Sold 75 CE and Hedged 72.25 CE, buying it.
USD INR:- it is working as per our analysis. it reverted from 73 and both targets were well achieved 73.44 and 74.20. Now it is sustaining above 74.20, so it may test 74.68 to 74.74. It has inverse relation with nifty so correction may come. Dow also has at major resistance as per chart 35500.
Note: 1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline, not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
This is just my neutral analysis pls do your own Thank you.
After a successful rally Upside, we have analysed that it will rest now. Range bound movement is expected... May go for strangle after tomorrow's expiry is closed.
The USD has been range bound and forming indecisive candles. This trend is likely to continue or lead to a down ward momentum in few days a RSI is maintaining its overbought status.
after major fall it make HH and HL and fib extension 1.618 (74.3120) can be achieved
USDINR DOW theory Weekly View from Monday 14Jun2021 Uptrend in Daily Timeframe USDINR has broken out of a triangle/flag pattern Retest of the same is expected to go higher. However, gap up possibility is also considered, if this happens we are super bullish on it if it stays above the gap for at least an hour. Details given on the chart. Happy Trading !!!
Quantitative Easing is essentially trapping the US dollar in the financial system which will cause disinflationary pressures in the future. USD will likely strengthen in the future to all-time highs. USD/INR is forming a falling wedge pattern taking support on a trend line. Very good opportunity for long side exposure on the dollar.
Everything explained in chart... Sold Put options of lower strikes and next expiry... Disclaimer : This is a trading idea for learning. No trading call. Keep your stop losses and risks within your limits.
USD/INR FX_IDC:USDINR CMP - 72.904 Stop - 72.100 on DCB Expectation - T1 - 74.500 T2 - 75.770, Review at 74.500 Expected Holding Period - 40 trading days or earlier for T1 View:- Swing Disclaimer:- Ideas being shared only for educational purpose Please do your own research or consult your financial advisor before investing