USDINR 9 Sep Expiry View
USDINR moved downwards as expected in previous post...
Now, considering a strong 50 EMA support, we have got Bullish Engulf on it.
Past behavior of USDINR also gives us a reference that whenever we have a bullish pattern at 50 EMA support,
we get an uptrend. ( Right now, trend can be cautious bullish, however, if it crosses All Time High, then we may get a fast move too.)
And looking at Option Chain of Currency, there are significant writers at 79.5 PE
Overall, verdict is bullish and strategy can be Bull Put Spread.
SELL 79.5 PE and Buy 79.25 PE for downside protection...
Plan Your Trade and Trade your Plan !!!
Happy Trading !
USDINR
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USDINR 2nd Sep Expiry ViewUSDINR
As per Dow theory analysis on Different Time Frames,
High made today is a Lower High and made that with Divergence on lower Time Frame,
which gives a view of a new Low...
Safest bet is the view that it cannot breach 80 soon...
Hence, Bear Call Spread Sell 80 CE and Buy 79.75 CE...
USDINR Bearish Extended Butterfly and Extended ABCD PatternUSDINR is in Overbought region, With confluence of two Harmonics Pattern we may have opportunity to Short sell near PRZ levels
Shorting Range - 78.3150 to 78.4286
USDINRCan this happen with USDINR? time will tell, pattern suggest, chart patterns suggest 49 and then 39 as targets in years to come.
Use discretion! not a trading recommendation
follow @tradestrikes for more
USDINR 23-08-2022USDINR is moving in range now from 79.72 t o 79.88. Its high likely to continue in the range. One can go for scalping inside the range.
If range is broken then
Long levels 79.96, 80.05.
Short levels 79.66, 79.55
gbpinrgbpinr makes lower low on daily chart .next support comes around 93.6 and resistance around 95.4
USDINR 22-08-2022USDINR is moving in a range now. Key data points for 22-08-2022 in spot.
If it sustains above 79.86 then it may move up to hit the top of the channel that is 79.97-80.
For short, if it breaks the channel and sustains below 79.75 then it may hit 79.65, 79.55, 79.35.
Oi data for future, maximum resistance at 80 and support at 79
USDINR 19/08/2022USDINR showing strong support to not come down. Even Dollar index stands at 107 which is really high. All are due to current global situations and also due to the resilience shown by US economy.
At spot market USDINR is at 79.70. For 19-08-2022 if we see long side then in spot market it has to cross 79.75.
Next targets will be 79.95, 80.05, 80.20.
To go short intraday, it has to come below 79.55.
Next targets will be 79.33, 79.16, 78.98.
OI data for USDINR future for 19th Aug expiry.
Strong support 79.5
Strong resistance 79.75, 80.
USDINR Move prediction for next 1 yearFX_IDC:USDINR Strong bearish WWs on USD INRs. Expecting the USDINR to top-out around 81. Incase that beats, then the next supply zone is near and strong at 83 levels. I expect a dual effect to creep in, i.e., weakness in USDs and INR strength. I am expecting the top to be made for next couple of decades, until 83 holds strong.
USDINR Move prediction for next 1 year#USDINR FX_IDC:USDINR . Move prediction for next 1 year. Very interesting double Wolfe waves formed and indicating a possible downside movement. Couple of strong supply zones ahead matching with the Fibonacci ratios.
USDINR - will it appreciate ????DXY above 107 can zoom to 109
INR still resilient compared to DXY
Still i think it will have to do catch up with DXY
Levels marked for trading...
I think 81+ coming on INR soon.
USDINR READY TO BREAK AGAINIt is looking like to give a strong breakout, although trading on life highs and it is very painful to see a breakout which is not good for entire markets trendlines indicating where it can go up to
#USDINRDescription
This channel is only for educational purpose and all the information provided here in this channel is not intended trading or investing. Investment in market are subjected to market risk.
USD/INR Dark Cloud Cover - Learning purposeDark cloud cover chart pattern.
Divergence.
SL didn't trigger.
USD INR as per Elliott Wave AnalysisUSD INR is seen to have completed its 5th wave of a smaller degree of bigger wave 3rd.
It should come lower and this can boost Nifty a bit at the least.
This is based on Elliott Wave Theory.
OANDA:USDINR
USDINR 23-06-2022USDINR does not seem to come down with global inflation and Russia Ukraine war going on. With Fed Chair Powel testimony on 22-06-2022, he has clearly said that recession should not be provoked. It means that though inflation in US is on higher side Fed is highly unlikely to increase interest rate by 100 bps. According to a poll by Reuters experts see a similar rate hike next month (75 bps) followed by 50 bps in September. If we see the technical side of USDINR, today again it hit all time high. If market makes higher high and sustain above 78.17 we can go for long or if it sustain below 77.95 we can go for short but with small targets.
USDINR PPI DATA MAY 2022PPI data which is one more indicator of inflation has been in line with forecast of 0.8%. For the month of April PPI was at 0.5% and for the month of May it stands at 0.8%. In spot 77.70 to 77.80 is strong support zone . Though USDINR has pulled back little bit from its all time high. With federal fund rate to be announced tomorrow that is on 15-06-2022 it can be seen as retracement.
USDINR-evening star pattern at 4 hourFX_IDC:USDINR
Indian Rupee at all-time low which can mean:
1. RBI will intervene next week to make the bull run slow
2. Evening star at 4 hours look promising. One should watch the next 4 hourly candle.
3. The previous high, 77.88 can be a resistance for the next consolidation. The consolidation is possible as the Dollar is at all-time high and RBI might intervene.
USDINR terminal move - 400 pip downmove likelyUSDINR had broken out a Triangle in the middle of Sep 21 . The subsequent move has been overlapping waves but counts well as an ending diagonal. This is a terminal move and has breached the Mar 20 high ending the larger degree pattern as well. Divergence is also developing at this high v/s previous highs. The move from 72 levels seems done and a reversal is on the cards.
When weakness sets in, it can take the pair to 73.75 level. Moves on completion of ending diagonals are quick heads to the origination of the pattern.
Target area is indicated.
As always keep stop losses to protect capital
