INRUSD trade ideas
USD/INR short fallUSD/INR breakout again 74.80 fall Target 74.40 reach with in Aug 19. opertunity for weekly option USD/INR Put call; Support S1 74.60 S2 74.30
Resistance R1 75.40 R2 75.70; Like my ideas
USD/INR to take decisive move before Aug 10USD/INR to take decisive move to hold or break the key support level of 74.48 on or before Aug 10. Fundamentals indicate break of support level and to touch the next even stronger support at 73.54.
Considering the factors like India's recent trade surplus, US elections and Dollar index in weak zone, if the level of 73.54 is broken, then the next support is at pre-covid level of 72.03.
On upside resistance points are at 75.39 and 76.13 levels.
Views are for educational purpose.
Learn_Forex - Break Out Long Trade reason- break out from accumulation range after march 2020
Note: do not trade
4hour USDINR more to fall bellow 74Bearish usdinr is more to fall bellow 74.50 and 74. as the Indian market is bullish currently usdinr will appreciate more simple logic.
USDINR Next PathADX - Oversold, EMA ~ Price Above ~ 20 Day's EMA, MACD ~ Rising Volume Appears, Conclusion :- INR Will Be Weak In The Coming Day's, Target ~ 79, 80
USDINRLong...
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INR will be weak in the coming days.... Target- 78 ....
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@VishwajeetSharma
USDINR - A short to medium term top in placeThe first leg of irregular correction has started to appear from 77.01. Now a trading opportunity is visible on price charts which can drag prices lower to:
i) 74 being 100% extension of wave A in an ideal case
ii) 73.22 being 138.2% extension of wave A in most cases
iii ) 72.70 being 161.8% extension of wave A on rare occasion
A break below 75.40 would provide the first confirmation that the move has started on the downside.
USDINR.....complete Head & Shoulder Pattern & pullback (Short)Its time to aware of the USDINR chart which is completed the Head and shoulder pattern and also its pullback towards the neckline. Its time to think for a shorting opportunity with some sort of candlestick pattern.
Sell USDINR USDINR in a range b/w 75.40 - 77.26 ..In last trading session INR shown strength and touch 76.38 level .Now once bear start moving below 76.35 can push towards 75.95. 21th April is major trend change date.
Weekly Trend Change: 76.67
Weekly Resistance:76.95,77.25,77.51
Weekly Support:76.25,75.95,75.55
Levels Mentioned are for April Contract of USD INR
USDINR in a RangeUSDINR after breakout on 28th Feb 2020 from the level of 74.55, had moved to 76.40 and is moving in a rising channel from 24th March 2020 onwards.
It has spent more time near the higher end of the channel showing strength in the USD. However, volatility is high and USD slides to the lower end of the
channel when Nifty shows strength (such as last week when Nifty closed higher above 9800) and USD came down to below 75 briefly. It has rebound from
support to close at 75.75 on Friday in the international market. Higher move is expected to take it up to 77. BTW it faces resistance @ 75.90 (9 days and 18
days ema) and then @76.40.
