INRUSD trade ideas
Bounce Back Once Again?INRUSD 1D TF
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INRUSD has once again come to retest the bottom support and a bounce back is expected soon
Once a breakout over the 0.0134 level is seen a entry can be taken with a short term target of TGT 1 and long term target of TGT 2, a safe SL at the lower trendline can be kept.
There is a Bullish MACD Crossover also coming and the previous crossover cam at a similar level and gave a HUGE reversal
Possible Pips-0.0001 (0.75%)
RR-5
USDINRFibonacci retracement of USDINR 1st target achieved, successfull breakout will go towards 2nd Target and after breaching the resistance 3rd target :)
Weaker Dollar (Update)The USD has been range bound and forming indecisive candles. This trend is likely to continue or lead to a down ward momentum in few days a RSI is maintaining its overbought status.
Weaker dollarA "long legged Doji" is a fancy name and shows indecision in the market. Since it formed after a strong bullish candle, the dollar might grow weaker against the rupee in a short term as RSI is over bought or stay range bound. This is a speculation because market may take move in any direction. Most analysts would want to watch the next few candles to check the direction of the market.
These are some of the price predictions for high and low (readers discretion advised)
21.06 Monday 75.24 73.02
22.06 Tuesday 76.15 73.89
23.06 Wedn 76.06 73.82
24.06 Thursday 76.24 73.98
25.06 Friday 76.18 73.92
short term trend change after major fall it make HH and HL and fib extension 1.618 (74.3120) can be achieved
USDINRUS Dollar has been trading in a range since last few months which a good sign for us as US Dollar have major impact on our economy until it is in range we can see our market performing well as we saw it yesterday moved more than 1% our market showed its impact on Expiry session.Breakout of it will have a major Impact on our Market.
Long USINRBullish Bat formation USDINR .....
Tgt 73.57 / 73.95 / 74.33
View Hold Good Till 72.21 is not taken out
USD INRUSR INR
Resistance of 73.3150 is being crossed.
RSI moving higher now after become oversold some days back.
In oversold USD INR was under 73.
Now aims to move towards overbought in near term to test
resistance of 74 or above
USD INRUSD INR
Key resistance 73.31
Weaker INR could put pressure
on equities.
breakout above 73.31 for usd inr pair
can lead to a rise near 74 or above.
Strong base support at 72.40-72.
Strength for INR is around 72.
Oversold nature on RSI
can lead to some pullback of the fall .
in this process could cross 73.31
on closing.
US dollar will likely strengthen in the long term.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.
USDINR BULL TRADE SETUP AS PER RISK REWARD RISK REWARD BASED TRADE SETUP FOR USDINR \NEAR TRENDLINE SUPPORT , AND BASE AREA
USNINR Trend cum Corrective Wave Analysis !!TREND ANALYSIS & TRADE SETUP !
WAVE ANALYSIS !!
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 CONFIRMATION !
