Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.1300 would begin in Midterm.
Trade Setup:
We opened 8 BUY trade(s) @ 1.1677 (day close price) based on 'Vale & Two-day reversal candle' at 2018.08.27 signaled by DTO.
Total Profit: 40 pip
Closed trade(s): 0 pip Profit
Open trade(s): 40 pip ...
Midterm forecast:
While the price is above the support 13.60, beginning of uptrend is expected.
We make sure when the resistance at 15.60 breaks.
If the support at 13.60 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Trading suggestion:
There is a possibility of temporary retracement to suggested Buy Zone (14.650 to 14.400). We wait ...
I remember clearly when I wrote last time about dollar rupee - I spoke about levels beyond 70$ when it was trading well below 65$ - Most of them never agreed that Dollar Rupee can head beyond 69$ mark as well.
You want to know more then do read my latest update on AUDUSD -
1000 Pip Fall Makes 3000+ from 8100 to 7100 – The Australian Journey 2018 ...
Six year chart shows USDINR going towards 74. It has a strong resistance around that level and can reverse from there. If it crosses the green trend line, we can see 77 levels in a few months.
RUPEE NEEDS A CLOSE BELOW 71.6 IF WE WANNA SEE A RELIEF BUT THATS HIGHLY UNIKELY SO WHATS NEXT?
AS WE ARE IN A STRONG UPTREND AND RSI HAS BEEN STABALISED BY THE CONSOLIDATION PERIOD WE MAY EBEN HEAD HIGHER TO 73$ SO DONT BE SURPRISED
SHORT TERM ZONE TO KEEP AN EYE ON IS 72.33 REGION
GOOD LUCK
CURRENTLY EVERYONE IS WONDERING WHERE RUPEE WILL HEAD NEXT? AS A TRADER I DID MY BEST TO PREDCICT THE NEXT MOVE WHILE KEEPING IT SIMPLE SO EVERYONE CAN UNDERSTAND BY USING PRICE ACTION.
SO WHAT NEXT FOR RUPEE?
WE HAVE SEEN RUPEE TAKING BEATING MASSIVELY AND DICLINING TO ALL TIME LOWS NOW WE ARE SEEING A STRUCTURE OF VALUE AT THE ZONE 70.7300 WHICH IS A STRONG ...
The GBP/JPY has reversed its short term downtrend.
It has broken its resistance and currently taking support at its broken resistance.
Also it is currently in a triangle formation and we expect the pair to make a bullish breakout which will be good time to take long positions.
The USD/CAD pair has formed a bullish flag pattern in the daily chart.
It has given a valid breakout and is currently retesting the broken flag line.
The retesting zone also coincides with the 21-EMA which can also act as a good support.
Hence we expect the pair to be bullish and the retesting zone is a good entry point for long trades.
