If we break above current week high in next week... then with in very short time we may see levels near 74. if all things are good then we downside is limited to 69.
Disclaimer: I am not a SEBI certified analyst. Please trade as per your risk apatite.
AS MENTIONED IN THE PREVIOUS POSTS, THE 15M & HOUR CHART TARGETS ACHIEVED.
AT PRESENT, THE CHART HAS A TENDENCY TO GO UP TO 71.35 FROM THE PRESENT LEVEL.
PLACE STOP LOSS AT YOUR COMFORT LEVEL.
AS PER THE WEEKLY CHART, THE EXCHANGE RATE MAY BE GOING TO THE VALUE OF 70.2-70.5 RANGE IN THE COMING DAYS.
IT HAS GOOD SUPPORT AT THESE LEVELS.
ONE MAY ENTER WITH TARGETS OF 71.3-71.5 AT THE ABOVE MENTIONED LEVELS.
DAY CHART HAS A "DOJI" SORT OF MOVEMENT ON FRIDAY. GO LONG, WHEN PRICE CLOSES ABOVE 71.1 FOR TARGETS OF 71.4. STOP LOSS MAY BE KEPT AS 70.8 (DAY...
As rsi is out side bands... Likely to get into bands... So can expect upside till 71.5.. On the other side currency war clam down may take it 70 levels..
Disclaimer : I am not certified analyst
With Fundamental Slow Down in the Indian Economy accompanying with rising Global Slowdown and Trade Wars.
Dollar Index is Touching New Highs and with no major moves in Indian Currency giving us a big trap signal on each fall in the USDINR or the Rising Rupee.
One can Long USDINR at 71.15-71.20 Levels for the Targets of 72.40, 73.25 and 74.57 in the coming months...
TREND ANALYSIS
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.
R:R 20-40 Times
USD/INR Going to Show India's Rapid Growth All over World.
It will help in Development and Increase in GDP .
We can...
As realized, the chart of USDINR looking that it has break the support of 71 levels and if it closes around these levels, we may bet it to go for big downfall in dollar in coming days. Traders are suggested that they may short the USDINR at current levels for target of 70.20 levels with strict SL of 71.10.
INR looks to get stronger on the back of a rate cut by the US Fed, coupled with rising short term optimism, though the long term outlook for INR is grossly negative.
USDINR is on a downward journey. It has broken two crucial supports @71.50 and 71.383 and is headed towards 70.675.
For educational purpose only. Not a recommendation.
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