with in day or two you can Look for buy set up based on Reversal conformation and Look to Book at or near the forecast
Each USDINR Future contract requires Margin of INR 1870 +( spread) = 1977 /- Per Lot and each 1 INR move in the Price will Give you Yield of INR 950.65 which is 45 % Gain per INR Move ,
The current Forecast is 2 INR means You will Make 950.65...
07.07.2022 to 14.07.2022 strong continous up trend in USDINR,
15.07.2022 to 27.07.2022 bulls exhausted and balancing started in narrow range 79.70 to 80.07
28.07.2022 bears entred the market and drove the price below the support zone 79.70.
29.07.2022, 01.08.2022 & 02.08.2022 aggressive selling of USDINR touched 78.43.
03.08.2022 bulls entred the drove price...
USD INR is seen to have completed its 5th wave of a smaller degree of bigger wave 3rd.
It should come lower and this can boost Nifty a bit at the least.
This is based on Elliott Wave Theory.
#USDINR FX_IDC:USDINR . Move prediction for next 1 year. Very interesting double Wolfe waves formed and indicating a possible downside movement. Couple of strong supply zones ahead matching with the Fibonacci ratios.
In hourly candle USDINR looks sideways at the moment. With ongoing wars and geo political tensions its really hard to predict the directions. One more uncertainty of China and Taiwan issue. If China and Taiwan issue increases then it may put more impact on world economy than Ukraine Russia as these are bigger economies. Also, US cpi data for July will be out on...
FX_IDC:USDINR Strong bearish WWs on USD INRs. Expecting the USDINR to top-out around 81. Incase that beats, then the next supply zone is near and strong at 83 levels. I expect a dual effect to creep in, i.e., weakness in USDs and INR strength. I am expecting the top to be made for next couple of decades, until 83 holds strong.
Now after a lot of upward movement a correction is due so look for levels mentioned in chart.
NOTE - THIS IS JUST OF EDUCATIONAL PURPOSE AND TRADE ON YOUR OWN RISK WITH CONSULT OF YOUR FINANCIAL ADVISOR.