USDINR multi-timeframe analysis
* On Monthly - last month Price tried to show a downtrend but failed to make a new low and ended up printing Inverted Hammer (Bullish Sign)
* On Weekly - High of previous week hammer taken out (Bullish Sign)
* On Daily - High of neutral candle printed on 13 April 2022 taken out (Bullish Sign)
Reversal Chart pattern - Inverted Head...
USDINR has given a good volume BO candle on Weekly
if it sustains above current level, this BO may give good targets as shown by the wave structure shown on chart.
Buy intraday Dips...
I am holding Bull Call Ratio Spread...
Might also do naked Call Buying with limited risk amount. (amount that I am ready to loose)
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.
TF 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...
USDINR 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 seems to take a momemtum above 75.20
as it is a long term trend line level
This trend line breaks the flag pattern of USD INR made from its All Time high level
Good volume candle printed on 4hourly
Any pullback will be a long opportunity
My Trade will be
SELL 75 PE
BUY 74.75 PE
Bull Put Spread
I might also add a naked 75 CE to gain the momentum if it...
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...
USDINR is a a crusial level
long term trendline broken upside
Trend is Uptrend
View : Buy the Dip
My trade : Bull Put Spread on any dip
Plan your Trade !!! Trade your Plan !!!
Happy Trading !!!
USDINR has broken out of range after about 20 days.
Good Volume candle
Chart pattern - Triangle Break out
Bull put Spread strategy for next few weeks...
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...
Hello Guys!
Hope you had enjoyed the festive season...
I enjoyed a lot... with Ganpati Bappa and Gauri Mata's Ashirwaad...
May God shower blessings on all of us...
Sorry ! As I did not post anything for a while...
This week's USDINR view is as follows :
USDINR was sideways for quiet sometime, consolidating in a triangle pattern.
It broke upwards today and I...
USD INR:- it is working as per our analysis. it reverted from 73 and both targets were well achieved 73.44 and 74.20. Now it is sustaining above 74.20, so it may test 74.68 to 74.74.
It has inverse relation with nifty so correction may come.
Dow also has at major resistance as per chart 35500.
USDINR DOW theory Weekly View from Monday 14Jun2021
Uptrend in Daily Timeframe
USDINR has broken out of a triangle/flag pattern
Retest of the same is expected to go higher.
However, gap up possibility is also considered, if this happens we are super bullish on it if it stays above the gap for at least an hour.
Details given on the chart.
Happy Trading !!!
Quantitative Easing is essentially trapping the US dollar in the financial system which will cause disinflationary pressures in the future. USD will likely strengthen in the future to all-time highs. USD/INR is forming a falling wedge pattern taking support on a trend line. Very good opportunity for long side exposure on the dollar.
