INRUSD trade ideas
While all are busy with Nifty and stocks we must not ignore thatWhile all are busy with Nifty and stocks we must not ignore that the USDINR has registered a breakout from a 6 months symmetrical triangle. The RSI is well placed into bullish zones with the pattern target placed at 74. However a break below 71.55 will render the pair into consolidation again.
USDINR #AscendingTriangleResistance at 72.20 - Stop 72.40
Supports 71.15- 71.20
Breach of Supports will open for 69.80 - 68.20
USDINR Trend Analysis & Trade Setup !!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 - A retracement back to 73.20-73.90 zone Presumably in its Wave C, can head up to 73.20-73.90 zone.
Doubts on New High.
Invalidation below Contracting Triangle's Wave C Low. Red Trendline can be used for Trailing.
USD/INR - Buy Strategy ( Range Forwards )This is Buy Strategy in USD/INR using Range Forwards - Keep Buy Call OTMF and Sell Put ITMF. Treasury Consulting Group (TCG) expects INR at 76 by Dec 2020
USDINR Channel upswingRelatively simple trade. Nothing complicated about it.
I also wanted to draw attention to this asset class which is still not getting much attention.
One can trade CDS futures and options on NSE for very low margin.
e.g. Intraday margin of 700 INR for 1K lot. And about 1400 INR to carry positions overnight.
This is not bad. 1 lot will result in INR 1000 pnl for 1 Rupee movement. Much better to trade legally than through illegal (in India) forex spot markets.
For this trade, target would be around 72.0000
USDINR - Next Path (Holding 70.35) Expect 72.25 - 74.50+Trading Strategies
Plan A - Risky Traders
Buy with strict stops below 70.35 for 72.25
Buy above 72.50 for 74.50
Buy above 74.50 for 75.50-76 handle
Plan B- Safe Traders (Post Pattern Breakout on upside)
Buy only above 72.25 for 74.50 & above targets as mentioned in Plan A
Note - If USDINR moves in desired direction as expected upside holding 70.35/70.50 handle as support zone - Traders should be careful for Equities.
Thanks for Support
USDINR has peakedUSDINR shot up by 39 paise to 71.77 on Friday as the crude oil price shot up by 3 dollars in the wake of gulf crisis, is showing signs of abating.
On 4 hrs. chart it has come to rest at 4 days exponential moving average @71.7590. It has negative divergence with RSI and undershoot the ascending trend
line, could fall to 71.80 at 9 days exponential moving average.
Does Dollar at Support?USDINR after reaching its high level range 72.20 is trying to test -- support range of 71.20-71.40
Any break down in any levels may lead to the further down levels of 70.48.
On the Resistance side, it may test 72.53 & 73 levels in the coming days.
Be Cautious with each trade.
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Market Commentary|Investiture.in
USDINR gaining strength! Will it further perturb stocks?USDINR: The currency pair has pulled back in the past week, the last two sessions were positive and the prices managed to close above all resistance and pivot levels. The RSI is into a bullish zone and bounced from the bullish extreme zones. The MACD is positive and above zero. The pair is expected to move higher in the coming sessions. The pair may move to 72.25 – 72.55 in the coming weeks.
USD/INR - FLAG PATTERN - BREAK OUT UPTREND???USD/INR - FLAG PATTERN - BREAK OUT UPTREND ??? TAKING SUPPORT AT TREND LINE
Something Fishy is going with USDINRStock Market is turning around.
With all the bad news quite for while. But on technical front, after the release of MPC by RBI and considering the USDINR rate at 71.30 for analysis purpose. The rupee has started depreciating to new levels.
After breaking the levels of 71.20 -- USDINR is moving ahead for the immediate Resistance range of 71.60, 72.10 and 72.40 levels with the Support range at
71.25, 70.95 and 70.58
Please be cautious with your trade
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