More weakness to come in INR..USDINR heading towards 80!USD continue to get stronger against emerging market currencies, one can sell 76.5 PE for easy premium this week or buy 76.5 CE for month of May...
USDINR
USDINR Daily time frame. what could possibly happen?I'm having bearish sentiment.
Reasons.
1. Usdinr at lifetime high.
2. Rsi strong bearish divergence.
3. price is in a consolidation triangle zone.
Question is, which way? I'm seeing probability is downside as per ordinary theory.
USD INR : Ranging at higher levels…Amidst this negative background the USDINR is bound to see a periodic thrust to the upside. The strong upward charge seen in March may have hit resistance zone around 78 but then the potential to move towards that levels still exist. The resistance zone is a confluence of a Fibonacci extension as well as modified Upper channel of the Pitchfork that shall aim to curtail the weakening. There has been some cool down in prices as can be seen but the situation does not warrant us to consider a strengthening. The situation overall continues to be bleak and we could see 74 become the new base for the USDINR in the coming months. At those levels you now have a very good support from the median line as well as the former highs that can play a part is restricting any small signs of strengthening.
what will it take to stop this juggernaut?The price action has so far only been indicating straight bullish candles.
Will the red Trendline have any impact? .. is what we need to see.
Clear Buy on USDInr Charts with good risk reward rationUSD Inr has given good breakout. All levels given in chart. I am a simple person who follows simple things without complication. This call is only for educational purpose.
Awaiting for your comments. Correct me if I am wrong.
ELLIOTT WAVE OF USDOLLAR INDIAN RUPEES DAILY CHARTelliott wave of usdollar indian rupees - daily chart
Eye on longer timeframe for USDINR.Look t the momemtum of moving upward. Expeccted downward move from approx. 13 APRL 2020 . The speed or momemutm which these currencies are going up is expected to fall at the same speed.
Nifty /Gold / USDINR - The Important Juncture Thanks from Bottom of my heart to "Sir John Murphy" for giving us such a wonderful book on Intermarket Analysis - "Profiting from Global Market Relationships"
Special thanks to my friend & follower who wrote - Think beyond Red & Green Colours. I would love to have your comment once again here in this idea as well.
Wish You all a Happy & Colorful Holi
This video idea talks about long term outlook on various asset classes such as
Gold
USDINR
Nifty
& get some clue for these asset classes.
Starting with last stock update - Indusind Bank which was published in Jan 2020 & suggested the fall from 1565 to 1050 - all targets were done & stock touched the channel bottom at 913 lows. Kindly check the idea below
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Indusind Bank - Never miss channel bottoms
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
USDINR Ideas
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
24th March 2019 Idea - USDINR - The Box Match at 69
10th Jan 2020 Idea - USDINR - The Next Path (Holding 70.35 - Expect 72.25 & 74.50
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gold Futures
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
17th Sep 2018 Idea - Plausible 1350-1375 Zone
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
India Nifty
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
29th Feb 2020 Idea - Nifty (India -Buy & Hold) - C-Wave or Corona Wave - What Next ?
12th Jan 2020 Idea - Nifty - Stellium Effect - How I cracked the top at 12295
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Thanks for checking the idea. Wishing you all once again a happy holi -
Look here two scenario.Look here two scenarios,
1) rounded downside move toward the main channel OR
2) without breaking narrow channel with up side move with volume rising.
This is really confusing for trade so, still, avoid trading without any breakdown.
I have clearly mentioned that70% chance to up break-outI have clearly mentioned that 70% chance to up break-out . Exactly happened What I had written but...
This break-out can still continue to up move... just wait till.
USDINR - Yearly Chart Since 1973. Looks like we are in Wave 5. No projections. Will observe further and post.
