Forming an overall bias is really important when you want to participate in any asset class.
As most of us are equity participants, it is crucial to know the influencing factors for the equity market.
Dollar is one of the most important indicator of equity movement as most of the trades happen through Dollar and it is the biggest currency in the world.
At a...
Past week saw a a sharp move past 83 and attempted 83.22. Every time the currency pair attempt above 83 the panic buttons are pressed. The earlier breach above 83.10 is still fresh in the minds, the buying interest continues as the market is still not sure of a decline below 82.20. It is evident from the market action that the declines are used as opportunity to...
Indian Rupee Elliott wave analysis Validation level 83.42
Indian Rupee down fall from 83.42 to 82.33
Minute Wave ((a)) Internal wave is (i) (ii) (iii) (iv) (v).
Minute Wave ((b)) is corrective wave (a) (b) (c) wave (c) is incomplete one more upside up to 83.12.
We can anticipate minute Wave ((c)) which should be tag out wave ((a)) up to 82
Disclaimer
It is...
USDINR making Ascending Triangle pattern.
Ascending Triangle shows high probability in bullish pattern.
In monthly time frame candle is not closing above 82.7 and consolidating in the range from 11 months.
So once it broke the level we can see
Target : 85.2
Past week saw a slow grinding in a narrow range between 82.53 & 82.80. Previous week’s decline was short lived as the market witnessed continued buying interest at lower levels. The earlier breach above 83.10 is still fresh in the minds, the buying interest continues as the market is still not sure of a decline below 82.20. It is evident from the market action...
Past week saw a dramatic shift of stance. Aided by the buoyant mood after India achieved a successful soft landing on the moon, the market witnessed a sharp sell-off towards 82.35. It appeared as if the markets were betting on another failed mission or the previous trigger past 83.30 was a false break. However, the buying interest continues as the market is still...
Past week saw the break of 83 and went on to hit the high of 83.42 and closed at 83.12. The buying interest continues as the market fears breach of 83.50. It is evident from the market action that the declines are used as opportunity to hedge the Imports. Now that the markets would be trying to grab anything below 83.00. As expected the potential breach on the...
USDINR ANALYSIS
👉 For long, it was facing resistance near 83 levels.
👉 Trading above 83 this week and holding up.
👉 If this week closes strongly above 83, we can see more sell-off in Indian equities.
#USDINR Elliott Wave Counts at a daily timeframe chart,
triangle breakout is seen in wave (4) after an extended wave (3).
A last 5th wave of the impulse started from feb'21 is pending which must cross
the previous high of the wave (3) to validate the counts.
Holding the level of 81.7 is very critical for the next phase of uptrend.
Trade at your own risk.
Regards.
The USD INR brackout is negative for the import company & also the Fiscal Deficit increse, but this is good for exporting company: my view this brackout is not good for the indian economic.
USDINR Breakout on Daily charts suggest Rupee depreciating further in coming days.
Sectors like IT, Metal, and Pharma that export most of their products and services would gain from a depreciating rupee as they would now get more rupees in for their dollars.
USD/INR has formed a triangle pattern.
(although the last leg of triangle seems incomplete, but it is likely to happen; And we will have to follow what price says on the charts :) )
82.9 - 83 has been resistance zone for few days now (Hrly candle close above 83 will confirm the upside move).
Above 83, the move can be quite fast and target is coming to 85+ (in 1...
Past week saw continued buying interest and the pair hit the high of 82.93 and closed at 82.85. The buying interest continues as the market fears breach of 83 which might have catastrophic effect. It is evident from the market action that the declines are used as opportunity to hedge the Imports. Markets are confused on the logic of this magic numbers 81.70 &...
