USDINR
Could the Handle be forming ?In this current crisis, Could a Cup and Handle Pattern be forming?
Will we see 1USD = Rs.78 - Rs.80 ??
As predicted, This is range price rotation.Just wait for break out any side price rotatio n before action:
The price rotating while volume is increasing...The " price rotating " while volume is increasing that will result you big and surge move in single direction .
70% chance is break up and made new high because of above statement. I don't suggest taking any action in this type of uncertain case .
Our First target has been achieved of short position :
The USDINR is trending up, a small divergence was created on RSIIn our last analysis for USDINR, the set target was 74, which was met this week. The minimum target of the pattern has been attained. The pair surpassed its previous highs and retraced back. The USDINR is trending up, a small divergence was created on RSI after which a correction took place on Friday. 73.55 is short term support for the pair, if it manages to close itself above it then we may further see advance in it. The upside targets for the pair are placed at 74.70, 75.50 & 77.50 if the 73.55 levels is safe. Below 73.55 the correction may extend to 72.60, 71.30 & 70.75 levels.
Algorithmic Derivation of Levels for USDINR : 12th March 20USDINR Algorithmic + Technical Derivation of Levels
Please feel free to comment and share ur findings
USDINR - Cup and HandleAs observed the USDINR pair has curved out and formed a bottom followed by a drop. The INR has then depreciated against the greenback breaking out from the consolidation phase. However the RBI's intervention can act as a strong resistance for the USDINR from spiking upwards. In the last 2 trading days as the Dow has fallen by ~14%, this has not had a major impact on the USDINR pair.
Second peak has been taken, but be careful.Complete research is here.:
Please comment if you want research on any currency.
Will nifty take support and pullback?Here's a question that stands out in everyone's mind :
Will nifty take support and pullback?
If the answer is "YES" , then how much pullback will on nifty?
The Supportline of the channel is already followed the 4 times.
Before the answer this Question we have analyzed deeply GAP theory.
Gaps appear more frequently on daily charts, where every day is an opportunity to create an opening gap. Gaps can be subdivided into four basic categories:
• Common gap
• Breakaway gap
• Runaway/ Continuation gap
• Exhaustion gap
In the nifty chart, Runaway GAP already has already created. THE current GAP is not clear.
There's only a 35% chance to pullback at 11200 over the nifty.
I will write here how little chance to recover before one big fall .
As per my experience and analysis, we are going to see till big fall before any pullback.
I am sure that, we are going to see more GAP in the coming days.
Here is analysis of DOW JONES 30 US:
USDINR:
BANKNIFTY: (Enjoyed)
NIFTY given for short selling:
Long term view was for nifty:
Nifty - BankNifty - USDINR - DOWDOW
Monthly Kijun has always been held since the Sub-Prime lows. If 25600-24800 gives way then 22700 would become a possible target
USD INR
Monthly has made a Bearish Harmonic AB=CD.
Weekly has done its minimum Dragon target, further sustaining above 74.75 would take it to 77 to complete its next Dragon target
Daily has also made a Bearish Harmonic AB=CD. Ideally sustaining below 74.25 would trigger a decline
BANK NIFTY
Monthly Kijun 28100-27400 crucial for upside.
Weekly has made a Bullish Harmonic Reciprocal AB=CD also, if that fails to hold then 26500 would become a possible target.
Daily has made a Bullish Harmonic Bat at FRI low
NIFTY
Monthly 1st support at FRI low if breached again then 10550 resistance 11200
Weekly 10850 needs to be held on closing basis else it opens for 10550 and then 9800. It also has a Bullish Reciprocal AB=CD at 10800-10750.
Daily has made a Bullish Harmonic Bat at FRI low.
For it to start reversing and moving up it needs to get above the following resistance lines 11050 / 11200 / 11500
Double TOP pattern on USDINR.Flag Pattern going to over at 75.2 or 74.8
First target if reversal 73.717 and second if stay below it 72.534
Flag breakout in USDINRLook to add USDINR spot upto 71.90 for a move towards 73.40 and 75
Coronavirus and Slow growth can hurt flows in India which is a current account deficit country
USD INRIn the year of the Rat, the Chinese at Wuhan decided to opt for the Bat and that lead to USD INR giving way to the Dragon! :) =)) :))
While all are busy with Nifty and stocks we must not ignore thatWhile all are busy with Nifty and stocks we must not ignore that the USDINR has registered a breakout from a 6 months symmetrical triangle. The RSI is well placed into bullish zones with the pattern target placed at 74. However a break below 71.55 will render the pair into consolidation again.
What's the next course for USDINR? Will it be a Breakout?The Flag pattern as seen is generally considered to be a continuation trend. So a Buy will only be triggered post breakout of the trendline.
USD INR - Buy for a target of 72.1-72.4 USD looking good, following major supporting trend lines.
72.10 - 72.4 can be expected going forward.
71.46 should be used as Stop.
