USDINR buy setupBuy USDINR above 63.870. Aggressive traders can buy at CMP (63.725)
T1: 64.125
T2: 64.670
T3: 65.000
SL: 63.640
USDINR
USD INRUSD INR spot at 63.72, almost middle of no trade zone 63.60-63.84, i’m expecting as break 63.82 will test fibo level 38.20 at 64.10, and move for next target 64.40,
Post budget - Indian rupee going to depreciate heavilyUS dollar Indian rupee Daily elliott wave analysis
It is better to keep in Us dollars rather than in Indian rupee
Expecting a sharp depreciation in Indian rupee post the budget
USDINR - At Short Term Supports USDINR face fine support within (64.70-64.80) and a multiple time test of this range sees a clear divergence with the MACD indicator. On the higher time frames, momentum indicators too have created a divergences which suggest that the Dollar will try to appreciate from current prices. However we should wait for a confirmed break above 64.90 for further upsides from the pair.
USD is in downtrend can go upto Rs. 58.USD:INR is in a downtrend so on every rise 2%-3% sell on rise strategy wil work very good with a good stop loss. In my view it is going down between 58.50-58.00
USDINR short setupShort USDINR between 65.245 and 65.470
T1: 64.800
T2: 64.035
T3: 63.535
T4: 63.250
SL: 66.122
USD INR View-- Infi forexUSD INR Spot at 65.05, after 4 months, i'm expecting if market holds 64.90, would break 65.20, 65.60 then 66.10. on the other hand support is at 64.70, then 64.30.. most probably it's expected on higher side exporter should hedge at least 50% of their exposer, at 65.20 Spot for next 2 months. and importers hedge at 64.90.. if break it then at 64.70..64.30....in the coming Weeks. It's not expecting to down more then 64.30.
usd : inr resume downtrend below 63.38usd will resume downtrend below 63.38 upto 60.35 this will be negated above 65.00
USDINR short setupUSDINR has been forming broadening wedge pattern.
SL: 64.3
Target: 63.6
Regards,
tRex
Jurassic Park
USDINR - 'time correction in progress?'USDINR seems to be taking too long deciding a break out of the range of Rs 65 and Rs 64. Keep an eye on Rs 63.95....
Ascending Triangle on USDINRAscending Triangle pattern formation on USDINR and the price near to the DEMA 200.
Trade:
Buy above - 65.025
Target 1 - 65.525
Target 2 - 66.135
Stop Loss - 64.295
USDINR - due for a corrective rebound !There is a clear positive divergence on the charts on both RSI and MACD and the psychological set up on USDINR too supports a corrective rebound . Swing Break confirmation needed which should come around 64.40/-
USDINR (hourly) buy for 65.10Aggressive buy at 64.70 or wait for the breakout to happen at 64.80.
keep stop loss at 64.60 and trail it.
Target 1 : 65.07
BIG PICTURE OF USDINR (ELLIOTT WAVE)Elliott wave chart of us $ inr (weekly chart)
the big picture
we are within the wave 3
Support / Break out @ pitchfork trend channel Look for Support / Break out @ pitchfork trend channel
usdinr - a rally for sell on rise for educational purpose only - sell on rise is the strategy for usdinr . sell near 66.30 - 66.4 with sl 66.75 for the tgt of 63.75 - 64
usdinr - a big downtrend to be startedfor educational purpose usdinr is showing symptoms of double top where 66.6-66.21 is the support where a little bounce may happen but this support may be broken then 63.65-63.32 will be next support. Or a big downtrend may be seen.
USDINR Short - Move out of BalanceBalance B/O , SL 66.20 (if it enters upper balance), target 1 isPOC of lower balance which is around 65.25 and target 2 is lower bracket of balance around 64.3
ICICI Bank Potential Breakdown Towards 200WatchOut for ICICI Bank Potential Breakdown of a long term channel, as it has failed to move up to test upper line for the third time, A break below can take it all the way down towards 200. Axis banks results were also not very supportive.
Shorts Can be taken with an SL above recent highs and for the Targets of 225, 205
USDINR - For NSE Forex TradersOANDA:USDINR
CMP - 68.087
Here, I have drawn the important lines.
Now trade their support, break and retest.
50 DMA will assist you.
Have a specific strategy of position sizing and stop loss which suits your trading plan .
Personal suggestion - After entering on a signal candle, exit the trade when 2 more candles are formed, the close of it, that is, 2 hours.
Thanks.
BankNifty Sell for 16500....BankNifty is Looking to move towards 16500 now, there are three reasons mainly....
1- Banknifty is trying to Form a Channel.
2- It is trying to move in a (W) Formation Contantly with 1.41 extensions as targets.
3- It is trying to Fill every gap one by one (show with numbers on the chart)
Short Positions can be taken for the targets of 17000, 16500 with an SL above 19500...
Ii am still very bearish for Indian Markets
