USDINR rising in silence !!!!USDINR just formed a double bottom pattern which shows that it is not interested in moving beyond 74.15 as a weekly closing basis. USDINR has given a breakout in weekly charts above 75.11 hence it can move towards 76.17.
Below you can see that its RSI moves in band, hence it can move to test RSI upper band.
USDINR
USDINR ViewUSDINR has broken an inclined Trendline,
this can be seen as inverted flag pattern breakdown. {considering upside retracement as inverted flag}
Since, 75 seems to be a strong resistance (breakdown level), I am considering Bear Call Spread strategy with next week's (11th Feb) options.
Plan your Trade ! Trade your Plan !
Happy Trading !!!
USDINR Trendline breakdownUSDINR gave inverted head and shoulder breakout and achieved it's target
Now, it is showing bearish divergence with previous high in stochastic.
candle close below breakout level shows bear strength.
Bollinger Band has started expanding indicating increasing volatality.
Trade with SL.
Plan your trade. then trade your plan.
Happy Trading !!!
USDINR ViewUSDINR has touched the Inverted Head and Shoulder target
Now, it is either retracing or reversing from the resistance point.
May capture this movement with SL at top of today's high.
Any bounce is a sell.
If it crosses 75, next target 74.75
Long trade idea on USD/INRTF for analysis = 4 hrs.
74.68 a resistance, which has been tested at least four times previously.
With RSI above 50, 14-MA of RSI upward sloping, MACD above 0, DI+ above 30, ADX above 30 & upward sloping;
Took a trade of BO above resistance, with SL of Resistance -ATR. 74.68-0.111 = 74.575.
Target for the trade in the region of 74.90 to 75.
In case of gap up above 75 on 27th January 2022, will pyramid with SL at 75 - ATR = 75 -0.100 = 74.90
USDINR LongGot long on USDINR. Reason to buy:-
1. channel support
2. Hammer formation in the weekly chart.
Don't take naked future long. Always go with a hedge - For example in my trade, I buy USDINR future and bought 73.75pe for the purpose of hedging.
Note: I am not a sebi registered advisor, please don't take a trade because of my analysis. Always consult your financial advisor.
USD INRThe Currency Pair is at a level of being pulled off towards its 50 and 20 MA Lines and can act as a support base before it can be expected to make another movie again. The Immediate support levels look like 74.8400.
The RSI seems to be calmed down with Higher Tops making flat peaks.
Although RSI Convergence is yet to be seen, don't expect the pair to be too volatile unless some big news bang in.
USDINR In Short LevelAll Levels mentioned on Chart
your part is to manage risks wisely
as you are responsible for your understandings
USDINR looks attractive buyUSDINR formed a bullish hammer after entering the Daily Demand Zone. USDINR has been falling continuously for almost 10days.Looks attractive buy at around 74.48- 74.50 with stoploss of 74 for target of 75.00, 75.50, 76.00
USDINR Jan 1st Week ViewUSDINR is at the previous support level.
Printed two hammer at the support level with Stochastic Positive Crossover
Wait for a Dip to go long as an inverted head and shoulder pattern seems to be
forming on hourly TimeFrame...
Stoploss below the low of the hammer
usdinr hugely bullish butterfly I am expecting much spike in USDINR and is headed for 76.639
trade at your own risk
USDINR facing final resistance before new highFX_IDC:USDINR chart for the post corona fall phase shows that the present level is at;
A) 78.6% Fibonacci extension level from the Feb 2021 bottom
B) Resistance line of upward channel formed since May 2021
The intersection level at 75.96-75.98 is playing as the last resistance point before its move to lifetime high of 77.
USDINR Rising WedgeUSDINR gave a fantastic rally,
however, now the price is narrowing upwards, causing a wedge pattern.
its time for the breakdown of the wedge, if it does, good short trade activates.