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Usdinranalysis

USDINR View next expiry viewUSDINR has broken down and then took support with bullish divergence it has a good resistance of long term EMAs (200 EMA and 50 EMA) also now Looking at Bollinger bands also it seems they are squeezing... confirming the view of price going sideways range - between 76 and 75 Recommendation : I am going for monthly expiry short iron butterfly. As monthly future is trading at 75.93 (round to 76) My straddle will be of 76 (CE & PE) Sell and will hedge both up and down with 76.25 CE Buy and 75.75 PE Buy Risk / Reward for 100 lots : 2000 / 23000 Very good RR ratio Margin required : 2,07,000 approx... Plan your Trade ! Trade your Plan !
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by NeelamN
14
USDINR: Breakout and retest done, 75.50 coming?USDINR has broken out of the symmetrical triangle pattern formed on the weekly chart which I had discussed in my previous idea. After that it has done a retest of the pattern trendline and the 20EMA on the daily chart. If we observe a continuation bar forming, as explained on the chart, we could see a retest of 75.50 pretty soon. Stay tuned for the continuation of the story.. _______________________________________________________________________________________________________________________________________________________ Manage risk properly and trade your plan. Like and follow for more.. :)
ULong
by Tradeception_
3
#usdinr weekly inverted hammerThe USDINR currency pair charts weekly charts showing an inverted hammer formation at previous resistance zone close by trendline channel top shows the presence of bears and could be potential reversal signal that could possibly mean it is less likely for the currency pair to move to 76 levels and beyond. The dollar index may be facing resistance before 94.7. However the weekly momentum has climbed back to bull zones second time after the cover wave one where first attempt never sustained. The weekly trend is also is bull zones but the ADX strength bent is seen on short term daily charts that is saying that trend strength may be reducing coming days. With the US tapering that could come in soon dollar further strengthen is a threat for those trading short on this with any breakout from the current resistance zone would be ugly. USDINR options strangles can be played if it breaks and hit the next resistance of near 77 levels on November monthly contracts.
by seekedgetrade
9
USDINR: Breakout or Breakdown?On the weekly USDINR chart, there is a symmetrical triangle kind of a formation. It has taken about 20 months to form on the chart. This pattern could break on either side. My bias would be on the long side because the overall trend on the weekly and the monthly chart looks definitely bullish. But I would be open to re evaluate the scenario if it breaks the pattern and the trendlines to the down side. Possible upside long term target: 81 Possible downside long term target: 67 Wait for the breakout and retest on either side, then trade on smaller timeframes. _______________________________________________________________________________________________________________________________ Manage risk properly and trade your plan. Like and follow for more. :)
ULong
by Tradeception_
USDINR View Scenario 1 : Continues the Head n Shoulder breakdown (can you spot Head and Shoulder?) to achieve T1 of Head and Shoulder breakdown target & 200 EMA Support. If breaks further, then T2 can be achieved which is a support of 2 hammers printed previously. Scenario 2 : If it does not break and open flat or gapup, it may consolidate here before breaking down. Range 74.5 - 74.25 Scenario 3 : It may achieve T1 and do a false breakdown of the inclined trend line (& 50 EMA) and again bounce back up. Look for bullish candle patterns here.
UShort
by NeelamN