So much is changing everywhere.
In this current crisis, Could a Cup and Handle Pattern be forming? Will we see 1USD = Rs.78 - Rs.80 ??
Just wait for break out any side price rotatio n before action:
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 :
In 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...
As 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...
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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...
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
Look 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
While 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.
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.