USDINR trade ideas
Interesting setup on USDINR chartsInteresting setup on USDINR charts as the sharp rally seen over the last few days has triggered widespread panic and chaos. Now, the pair has reached important cluster resistance on Daily charts and will attempt to surpass it. Its a very important resistance zone as its created with reference to its all time high of 77.02. A closing above 75.80 will definitely not be a good news. Big Boss RBI will definitely be watching these levels, so we should also track this alongwith the other setups.
USDINR and nifty ratio analysisfor future analysis for multi asset review and understand where equity stands
usd inrUSD INR
Trend line breakout and falling wedge breakout has been witnessed.
Expect 74.93 to be tested in near term.
Support can be at 74.05-73.90 and 73.61.
RSI get into the overbought zone.
Acceleration towards 74.93 could be seen for resistance and profit booking
by long position trader.
As long as it remains above the trend line
expect accumulation for profit book to 74.93 or above.
If at all breakout above 75 is witnesse further than rally to 76.46-76.97.
For the time being objective is to test 74.93
USD/INR - LiftoffAt some point the RBI will intervene to protect the rupee...at what level we dont know but on the charts there has been a breaking of channel.
This depreciation is good for exporters like IT, Pharma etc.
If it keeps getting weaker its bad for inflation but good for select companies..
Watch out for those companies (exporters) making moves because of a weaker rupee.
USDINR in consolidation before fallThis hourly chart shows that there is breakdown from the ascending trend line consolidation and another breakdown is awaited from the horizontal support. Target of the fall would be 73 where it may find support at 200 period ema. Stop may be kept above 73.45.
Disclaimer: I'm not a SEBI registered advisor. This is not a recommendation to buy or sell. For education purpose only.
USD/INRNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
USD INR - Shorting opportunityThis is my first post on USD INR - So going with a smaller timeframe.
CMP - 72.68 (Date 15.03.2021)
Pattern Formation - Falling Channel (Channel Width - 1 Rs)
Days left - 5 working days ( Analysis for 1 week)
Levels expected as per channel angle - 72.80 to 71.60 (Mar 15th to Mar 19th)
Since CMP is very close to the Upper limit and there is a possibility of a 1.1 Rs fall from CMP, sell at CMP for 1 Rs gain with 20p SL (Though median line would act as strong support, I expect the breakdown to happen)
RRR is 1:5 which is too good for anyone to test it.
USD INR - First public post This is my first post on USD INR - So going with a smaller timeframe.
CMP - 72.68 (Date 15.03.2021)
Pattern Formation - Falling Channel (Channel Width - 1 Rs)
Days left - 5 working days ( Analysis for 1 week)
Levels expected as per channel angle - 72.80 to 71.60 (Mar 15th to Mar 19th)
Since CMP is very close to the Upper limit and there is a possibility of a 1.1 Rs fall from CMP, sell at CMP for 1 Rs gain with 20p SL (Though median line would act as strong support, I expect the breakdown to happen)
RRR is 1:5 which is too good for anyone to test it.
triangle pattern look for SHORTIn weekly chart
Downward triangle pattern can be seen
look for clear short entry
USDINR Inv HnS USD INR at a good level
if Head n Shoulder breaks out, then we can get a good long trade.
USDINRIt seems at important support. We may see bounce back from here and that will also boost equity market in india
USD INR Bullish ViewUSDINR::
Falling Channel Breakout Done
Looks Strong above 74.1 for 74.5 and 75
SL 73.7
