USDINR has had a bearish break of structure. Sell on rise stance will pay off. Easy targets would be INR 80
Indian Rupee has depreciated considerably against USD for a while Horn Top is forming on weekly. IF this formation holds Rupee will see a relief rally that could take it to 78
usdinr still in bearish mode....it may go till 80.80INR just my view
Below 81.90 we may see a down move in USDINR....which may give a LONG ENTRY IN NIFTY50 FUT
Last day bear trap is formed in USDINR, it simply means that it will be bullish for coming few days and can go up to at least high of double top i.e.,83.10 (might break that also). Let us decode the sentiments during this candle formation, On 26th when this big bearish candle gives closing below last swing low, people would have shorted it taking double top in...
USD/INR daily chart formed shooting Star. 1:1 Target on daily chart is 81.765. Also it formed negative divergence with double top.
Hey Folks ! USDINR Correction did a pennant breakout instead of the Breakdown as expected in earlier post... So, we will trade what we see in market instead of what we expect... Now for a longer term the trend has turned bullish with a Resistance Breakout and EMA Positive Cross Over (PCO) If you see in the above chart, we have seen similar pattern previously and...
A steep trendline of USDINR will make it quite difficult to sustain also merging with previous resistance,. Let's take how it goes from here, i would avoid fresh longs...!! FX_IDC:USDINR
Don't miss the great SELL Opportunity in USDINR. USDINR created a Ascending Channel Pattern and it's at major resistance of channel pattern and probably it'll bounce back to support zone which is at 80. The 1st target is 80.15 Entry: 81.47 SL: 82.07 TP1: 80.15 TP2: 77.15 RR Ratio: 1:8 Reward
Sell @ 81.40, and carry the trade if closes below the sell price on hourly basis else retake the entry on hourly candle which close below 81.40. Stoploss and targets are mark in the chart. Note:- Only for educational purpose.
usdinr near resistance 82 - 82.5 ...............................................
5th jul close and 6th jul open are same this is tweezer top
Inflation due to which economics shift towards dollar, XABC formed, waiting for D
USDINR has been doing a sideways move for a while... Although now as per Dow theory also, it has given a Bearish Direction with change in Dow theory... Details in the chart above.... Let's take every bounce an opportunity to sell Calls of higher strikes (above current price - OTM) and when it breaks TL, we might also be brave to buy Puts of ATM strike... Achhe...
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...
News from Jackson Hole changed the sentiment of the markets overnight. Watch this video to know what Jackson Hole is and how it impacts the financial markets, from forex to equities and commodities too.
USDINR 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 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