74.66, 75.22, 75.47 three higher lows breaking out from long consolidation pushing price extremely higher highs.
1. Nifty fall and gain
2. consolidation break out and pullback
3. bullish divergence on oscillators
4. Bullish structure.
A small slow pullback to 75 and then drop below today's low to 74.50 noted.
1. Rsi divergence
2. Price closing lower low
3. Price following a downward slope parallel channel
4. There's a 50 and 618% retracement at 75.00
Check Jpyinr idea here link down below
Finally, That long consolidation pattern broke out and the price seems to respecting 75.84 level which crucial to maintain further up move.
if it happens taking support at 75.84 then 77 and 78 on the way.
1. Price broke out the long consolidation pattern Triangle, pennant .
2. Keeping in that RSI still deviating but price structure is still bullish .
USDINR is moving in a wedge.
Longs can be added on closing basis after break of upper line.
SHORTS can be added on closing basis after break of lower line.
Not advisable to take positions on inside the wedge.
Will update more on any significant moves.
This is the 3H chart.
Your positions are your own sound decisions. I am not responsible...
as the Indian equity market little revive usdinr will retrace somewhere around 70.50 and 70.32.
Confluences & Reason:
1. Bearish Rsi divergence on the daily time frame.
2. Pattern rising wedge broke out to the downside.
3. pivot level fib 38% and 50% retracement price at 70.32.
it seems an ending diagonal has formed and a bear divergence on the rsi can favor a bearish dip. it might open a new door to big players accumulate but if price really holds 70.65 and 70.32. otherwise it will drive into bearish trend. following long time frame usdinr does not look it will enter into bear trend certainly as usdinr having no favorable sentiment. ...
Hi, we saw USDINR's 2018 move from 68.31 to 74.48 and now we are on the same phase of market cycle from 1 august to october 10. 2018. I'm expecting same market cycle in 2019 along with other three INR pairs EURINR, GBPINR, and JPYINR. do your maths.
I'll keep updating when I see new opportunity. Thanks!
Be neutral. empty your brain. learn and unlearn. abandoned...
Discretion!! I am only 35% of the time right in my analysis and 65% wrong. I still make money but I can't gaurantee yours money management and position sizing is really matters if you don't know how educate yourself.
Reasons for shorting: We got a bearish divergence at 4h time frame, daily trend is still remain bearish, weekly time frame price gave a currection...
USDINR 4hr time frame, upcoming week usdinr may seen bullish.
On the daily time frame we can clearly see a bullish engulfing candle closed. on the four hour time frame there can be create a inverse H&S if price gives pullback from 68.79 to 68.44. 4hr time frame rsi is diverging as bullish. daily time frame rsi is oversold and made double bottom. weekly time rsi...
USDINR broke out all time support level 68.32 and enters into bearish teritoy and remain bearish from Jun 17/2019 high 69.95. current price is 68.23 following this trend we can expect futher down to 67.86 and 67.50 in a short period.
Today's Gaped down usdinr and other 3 pairs eurinr, jpyinr, gbpinr gaped up. following J. powell cuts fed rate again and other...
the scenario is applicable only if the current price level is breached with is at pivot (sorry for the fine green line just above the current price candle), otherwise it wont go so deep and shall enjoy the reflection from the kumo green support cloud...
the reversal point of the forming bullish bat is also coinciding with the S1 support level of the traditional...