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U.S. Dollar / Indian Rupee

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USDINR trade ideas

USDINR | Make Or BreakSummary: The USD/INR stock chart has exhibited a prolonged phase of long consolidation, indicating a period of relative price stability and indecision between the US dollar and the Indian rupee. This consolidation pattern often occurs after a significant price movement and suggests that market participants are assessing their positions before taking the next major directional move. During this consolidation, a flag and pole pattern has emerged on the weekly time frame. The flag and pole pattern is a technical chart pattern that consists of a strong price rally (pole) followed by a sideways or slightly downward price movement (flag). This pattern is considered a continuation pattern, implying that the market will likely resume its uptrend once the consolidation phase is over. Given the current setup of the flag and pole pattern, traders and investors should closely monitor the USD/INR price action to determine its potential future direction. A breakout to the upside of the flag could signal a continuation of the previous uptrend, indicating a potential rise in the USD/INR exchange rate. On the other hand, a breakdown to the downside of the flag might indicate a reversal, suggesting a decline in the USD/INR exchange rate. It is important to be vigilant and wait for a clear and decisive breakout or breakdown from the flag pattern before making trading decisions. Technical analysis tools such as trendlines, support, and resistance levels can help identify potential entry and exit points based on the price action. Additionally, keeping an eye on fundamental factors that can impact the USD/INR exchange rate, such as economic data, geopolitical events, and central bank policies, can provide valuable insights to supplement the technical analysis. Ultimately, the direction of the USD/INR exchange rate will depend on the prevailing market sentiment, economic conditions, and geopolitical developments at the breakout or breakdown from the consolidation and flag and pole pattern. Traders and investors should exercise caution and conduct thorough analysis before making any trading decisions.
by iamrk7
USDINR-Weekly Outlook-Venkat's Blog Past week saw another rare attempt of 81.67. However, the market witnessed a strong buying interest and the pair swiftly rose to 82.33 and finally settled at 82.20. As observed in the previous Blogs, it is evident from the market action that the declines are used as opportunity to hedge the Imports. Markets would be confused on the logic of this magic number 81.70 which has been holding since Feb 23 except for a marginal breach in March & April 23. It is evident from the charts that if 81.70 is breached on weekly closing basis there are possibilities of lower levels towards 81.55 and then 81.15 and even 80. Having made failed attempts, we may expect a consolidation between 81.75 and 82.55. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. A few more observations: As noted in the previous blogs, intend to keep the following input for quick reference. The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. Neither the moves in Dollar Index-DXY nor the equity have direct correlation A deeper correction is long overdue. Market is expecting 81.70-83.10 will be protected. If appears that the same kind of yo-yo moves may continue till one more quarter if we do not see a close below 81.70 The raising upward channel indicate the broader range of 77.10-85.30 Unlike in the past, the Imports (mainly the oil) are being hedged as and when there are lower prices in Oil and/or lower prices in the currency pair A decisive week ahead. Last week there was a breach of the support at the base of the triangle. Yet there has been sharp recovery to be back inside the triangle The narrowing of the Bollinger Bands suggest we can expect sharp moves sooner. 85+ or 80- is a strange puzzle. Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
USDINR-Weekly Outlook-Venkat's Blog Past week saw a narrow range of 81.91-82.20. After having seen the 79 to 83 moves during Sep 22, the declines are used as opportunity to hedge the Imports which has been highlighted in previous blogs. However, when the DXY has breached crucial 100 mark, there are no reason that the USDINR currency pair holds on to this range. This week is crucial and there are possibilities of lower levels towards 81.55 and then 81.15. If fails then there could be a wait period of another three weeks. In such scenario we may expect a consolidation between 81.75 and 82.55. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. A few more observations: As noted in the previous blog, continue to keep the following input for quick reference. The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. This range is continuing to be protected A deeper correction is long overdue. Market is expecting 81.70-83.10 will be protected. If appears that the same kind of yo-yo moves may continue till one more quarter if we do not see a close below 81.70 Neither the moves in Dollar Index-DXY nor the equity have direct correlation The raising upward channel indicate the broader range of 77.10-83.30 Unlike in the past, the Imports (mainly the oil) are being hedged as and when there are lower prices in Oil and/or lower prices in the currency pair A decisive week ahead Narrowing of the Bollinger Bands suggest we can expect sharp moves sooner. 85+ or 79- is a strange puzzle. Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
USDINR-Weekly Outlook-Venkat's BlogPast week saw a reversal of previous weeks move and closed around 82.02. As observed in the previous blog the declines are used as opportunity to hedge the Imports. Once again, the markets would be looking for lower levels to hedge imports. However, when the DXY has breached crucial 100 mark, there are no reason that the USDINR currency pair holds on to this range. This week is crucial and there are possibilities of lower levels towards 81.55 and then 81.15. If fails then there could be a wait period of another three weeks. In such scenario we may expect a consolidation between 81.75 and 82.75. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. A few more observations: Neither the moves in Dollar Index-DXY nor the equity have direct correlation The raising upward channel indicate the broader range of 77.10-83.30 Unlike in the past, the Imports (mainly the oil) are being hedged as and when there are lower prices in Oil and/or lower prices in the currency pair. As noted in the previous blog, continue to keep the following input for quick reference. The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. This range is continuing to be protected A deeper correction is long overdue. Market is expecting 81.70-83.10 will be protected. If appears that the same kind of yo-yo moves may continue till one more quarter if we do not see a close below 81.70 A decisive week ahead Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
1
USDINR-Weekly Outlook-Venkat's BlogPast week saw a brief breach of 81.95 and tested a low of 81.75 and reacted quickly towards 82.75. As observed in the previous blog the declines are used as opportunity to hedge the Imports. Once again, the markets would be looking for lower levels to hedge imports. It appears that the pair seems to be in no mood to breach even 81.70 on a closing basis. In such scenario we may expect a consolidation between 82.30 and 82.75. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. A few more observations: Unlike in the past, the Imports (mainly the oil) are being hedged as and when there are lower prices in Oil and/or lower prices in the currency pair. Neither the moves in Dollar Index-DXY nor the equity have direct correlation The raising upward channel indicate the broader range of 77.10-83.30 As noted in the previous blog, continue to keep the following input for quick reference. The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. This range is continuing to be protected A deeper correction is long overdue. Market is expecting 81.70-83.10 will be protected. If appears that the same kind of yo-yo moves may continue till one more quarter if we do not see a close below 81.70. Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
USDINRFX_IDC:USDINR please note that we are not a SEBI Registered Investor Adviser/PMS/ Broking House. All the contents over here are for educational purposes only and are not investment advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures and options. You are also requested to apply your prudence and consult your advisers in case you choose to act on any such content available as WE claims no responsibilities for any of your actions or any outcome of such action
Long
by TrAder_3101_
USDINR Possible Elliott wave counts Hello Friends Here we had shared possible Elliott wave counts on chart of USDINR, which is clearly showing that on bigger scale we are in 5th wave of some higher degree, in which we had finished wave (1)-(2)-(3) and currently we are in either in wave (4) or in wave 2 of wave (5). Also both scenarios are discussed in this video post, you can go through this video post which is explained in best possible way for Educational purpose only. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Possible scenario Alternate scenario Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
by RK_Chaarts
6
Pullback Strategy: A Strategy Worth ConsideringIn the dynamic world of stock markets, mastering the art of timing can be a game-changer for traders. While it may seem counterintuitive, the pullback strategy provides a unique opportunity to capitalize on short-term reversals within a prevailing trend. By strategically identifying these temporary retreats in price, astute traders can potentially enter trades at advantageous levels and ride the wave of the underlying trend. So, let's dive into the world of pullbacks and uncover their potential. What is Pullback Strategy? The pullback strategy entails purchasing or selling assets when they experience a brief dip or retracement amidst a larger trend. This technique combines the power of trend identification with the precision of finding key support or resistance levels. By employing trend indicators like moving averages or the MACD, traders gain valuable insights into the overall trend direction, enabling them to identify potential pullback opportunities. How to Execute Pullback Strategy The beauty of the pullback strategy lies in its flexibility—it can be employed across various timeframes and currency pairs. Whether you're a day trader seeking quick profits or a long-term investor looking for strategic entry points, this strategy accommodates a range of trading styles. Once a trend is established, patient traders can wait for pullbacks to support levels to initiate long positions or pullbacks to resistance levels to consider short positions. Managing Risk Like any investment strategy, managing risk is paramount. Traders employing the pullback strategy should set stop-loss orders to limit potential losses in case the pullback extends beyond anticipated levels. Additionally, adhering to proper position sizing techniques and practicing sound risk management principles can further enhance the effectiveness of this approach. Dhan provides Cover Orders & Bracket Orders which help traders to minimize their risks. Conclusion: The pullback strategy presents an intriguing avenue for traders seeking to harness the power of trend reversals. By patiently awaiting opportune moments during temporary price retracements, traders can potentially enter trades at advantageous levels, increasing the probability of success. However, it is essential to combine this strategy with prudent risk management and sound technical analysis to navigate the complexities of the market effectively. Remember, the key to success lies not only in identifying opportunities but also in applying disciplined execution and risk management techniques. In the next idea, we’ll cover Trend Continuation Strategy, till then how about you follow Dhan for more such trading ideas? Happy Trading!
by Dhan
USDINR-Weekly Outlook-Venkat's BlogPast week saw a very narrow range of 82.10-81.94.As observed in the previous blog the declines are used as opportunity to hedge the Imports. A close below 82.00 favors further lower levels provided 81.95 is breached on a daily closing basis.. The currency pair is at a crucial support. It appears that the pair seems to be in no mood to breach even 81.90 on a closing basis.In such scenario we may expect a consolidation between 81.95 and 82.45. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. A few more observations: The raising upward channel indicate the broader range of 77.10-83.30 Neither the moves in Dollar Index-DXY nor the equity have direct correlation As noted in the previous blog, continue to keep the following input for quick reference. The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance.If breached, we may see another spike towards 85.70. This range is continuing to be protected Unlike in the past, the Imports (mainly the oil) are being hedged as and when there are lower prices in Oil and/or lower prices in the currency pair. A deeper correction is long overdue. Market is expecting 81.70-83.10 will be protected. If appears that the same kind of yo-yo moves may continue till one more quarter if we do not see a close below 81.70. Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF