Short USDINR Target 71.32 short term.
According to Indian market today Nifty, Bank Nifty, Sensex all bounce up with a strong bull rally. also USDINR four hours chart looking bearish.
Fundamentals to Watch New Governor, Political parties Exchange, Indian market zoomed up.
USDINR short term target 71.32.
USDINR can reach to 72 in short term as Crude oil and Brent oil peaked the upside rally also INR seems not too strong it will keep manipulated by Oil pricing.
Just let you know USDINR in a critical support zone if it breaks 69.50 Short again for a target of 68.50 within a week.
Fundamentals:- Crude oil, Brent Oil supporting, US GDP negative, US Fade Rate Hiked, US Home sale negative. Rupee getting Strength all the way up from JPYINR, GBPINR, EURINR, and last but not least USDINR.
All Jhingalala (:
Short USDINR 69.50 can be archived till November expiry. it broke all support and Fundamental also favoring RBI also Brent oil, Crude oil all down.
All Jhingalala (:
It seems dollar may slide down, thereby helping Nifty again take short bull run.
Although Politics may play its role but still signs are of appreciating rupee.
Lets see!!
It may have a minor negative impact on Indian IT Stocks.
Inv H&S target achieved from 68.5 to 69.65
RBI intervention likely now as they may want to make the fall gradual.
Pair has breached +3 SD.
Short for target around 69.3
USD INR spot 64.98 now it’s forming triangle not bullish nor bearish, as it’s break 64.80-82, we expect for 64.64 then 64.42, for the bullish have to break 65.12, today RBI monetary policy coming, it’s expected there is no change in interest change, and in coming days major oil payments have to be done govt. it will support INR.
Currency DRIVE By INFI FORX...
USD /INR spot @ 64.90 from last one month pair is ranging from 64.80-65.20-30, ones in a mid of month on 13th march market break 64.80, but unable to sustain below that, and keep in range 64.80-65.30, now market is potentially trying to form double top, now as it’s break 64.82-80, and test again, it would be confirm, for the target of 64.40.
Strategy: for the...
USDINR broke its Longterm Uptrending Line, a few Weeks Back. Also as can be seen, its setting up for multiple level of breakdown from Head and Shoulder Pattern. BUT it needs more downward price action for Confirmation.
Here we have potential ABCD completion around 66.1's in USDINR but it will happen only after the support at 66.5's takenout. As of now I expect USDINR will move little up to 66.85's before starting its downward move. Incase the resistance is taken out, we need to decide based on what happens after that.
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