Lower high & lower low , first sign of more bearish outlook for the pir USDINR. One should go short for the target region of at least 68. The key level on upside is 75.
Note: This is for educational purpose only.
There seems to be a bearish breakout in USDINR with ultra high volume. However, RSI is below 30 which indicates oversold. Don't aggressively short this pair. There is a possibility of some bounce back before the next down fall.
Note: This is for educational purpose only.
Channel broken with high selling volume. This is a confirmation for downtrend. There might be some consolidation before further downfall.
TREND ANALYSIS & TRADE SETUP
Wave Analysis & Chart Pattern .
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Reward is 15-20 Times
TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Wait for entry setup, if available then Long/short.
R:R is 10 to 12 times.
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.
Date: 10/09/2019
This is the 3H chart.
Your positions are your own sound decisions. I am not responsible...
Sell At 71.4725 Stoplss 72.900
Target 70
Reasons for Trade-1.Price formed bearish candlstick pattern near daily resistance
2.Daily Trend is down
3.Price reacted from important fibo level of 61.8%
4.Risk Reward 1;2
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...
