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
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...
NEW ALL TIME HIGH MUST BE INCOMING IN USD INR ...THAT MEANS BAD ...WORSE FOR INDIAN ECONOMY ..I ASSUME TILL END 2019 WE CAN SEE NEW ALL TIME HIGH IN USD INR .
THAT MEANS I WILL HEDGE MY ASSET VALUED IN INDIAN RUPPEE ..INTO DOLLAR OR WILL LONG THE USD INR PAIR .
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...
On evaluating the chart of NIFTY FUTURES in hourly time frame, we see that the upside is restricted in the Index and rupees again showing weakness in the past two sessions can bring back it to it down sloping channel, further we estimated that the Indices will be trade in the range bound manner and more downside can be seen if Rupee depreciate on regular...
TREND ANALYSIS
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Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
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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...
15 M CHART SHOWS THE H&S FORMATION WITH LEFT SHOULDER & HEAD (BEING FORMED).
IF IT FOLLOWS THIS, THEN THE RANGE COULD BE 71.73 TO 71.76.
AT 71.86 THERE IS RESISTANCE IN THE HOUR CHART.
USDINR has broken a crucial support@71.50. It's having huge negative divergence with RSI.
This is only for educational purpose. Not a SEBI registered advisor.
Looking at monthly, weekly and daily chart, one can easily see that the pair is headed north.
Its prudent to take short term positions inline with medium and long term trend
Its a buy for now with targets above 72.5 for short term
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