USDINR is looking bullish due to 2 reasons. First, a lot of tails are visible and tails are a sign of demand and we can expect the price to move higher with momentum. Second, a previous up move. During March, there was a strong rally towards 77 level and from there price is consolidating in a falling parallel channel. This structure is similar to a bull flag and...
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.
Rise towads 74 should be used to short for 72.20 sl 75.2 Buying will be done only In dip around 72
The price has broken down from a crucial level of support. Right now on the two-hour time frame, it seems to be respecting a diagonal level of support. A good entry point to go short might be to wait for it to break this level or for the price to retest the previous major level of support. There is also a strong zone around 72.5 which was acting as a previous...
Let's wait till it tests 2019's resistance. ~ AERO ~
Buy around 72.50-72 sl 71 TGT 78-80 Disc - it's not an advise to buy or sell
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.
RSI and RS are coming on reversal points making Dollar Stronger than Rs. This would result weaker Index
USDINR in long term upmove, a W-X-Y zigzag in completion. This should aid an upmove in GOLD and SILVER priced in Rupee terms
USDINR looking to break higher, go long with stop below 74.59 for target of 74.98 & 75.08
Breakdown and retest is done Target 73.8 with SL at 75.4 on daily closing basis.
Nifty - Technical Analysis: Nifty had a gap-down opening today but tried to fill the gap through the course of the day. The intraday trend was bullish. Nifty once again took support around the 11240 levels but there is no clear momentum direction yet as indicated by the ADX indicating a week 14.61. Market - Driving Factors: Travel and Tourism stocks...
Dollar index at 93.24, 92.5 Level to watch on daily chart , breaking 92.5 levels can take DXY to 91 Levels.
Nifty - Technical Analysis: Nifty had a gap-down opening on hourly charts and remained within a range throughout the day. On the 15-minute chart, most candles had long upper and lower shadows indicating the presence of uncertainty in the markets. 9-period SMA closed above the 12-period SMA on 15-minute charts indicating the small positive bias in the...