USD INR- possible 88 levels can come in coming year!
USDINR - should have broken out this time right? Every time it has spiked up recently to near the 83 level, everyone is pounding the table. But the likes of me waiting with bated breath. I am waiting because I have been trying to anticipate a top here, but once again, for the nth time, we have a failure to move past the upper trendline of the triangle. A day...
As explained in the chart, USDINR could finally breakout after a year long of consolidation.
USD vs INR (W) is under clear symmetrical triangular formation. Breakout and sustained above 83 for a week will lead INR to 86 at least.
USDINR has been moving sideways since last Oct . It has shown no net movement in the last whole year. The sideways move has taken the shape of an triangle and seems to have been completed . The latest upmove from the wave marked E is the first leg of the new rally. This should take the price to 84.50. A higher target is 86.30 but that will depend on the structure...
Past week saw continued buying interest and the pair hit the high of 82.89 and cooled-off to close at 82.65. As has been continuously highlighted in the previous Blogs, 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 & 83.00. This time around the pair...
Resistance and support are faces of a same coin the concept is same , if price reverses its direction after getting closer to a particular level or zone we call it resistance or support level or zone. When you start learning about it more you will find that it is the most basic approach to analyze a price action, then you mix it up with trend line which is again...
Compressing above the short-term EMAs. The downwaves have shortened and the up waves have made relatively equal highs. Potential selling absorption is on the horizon, possibly within the next few months. Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
USDINR Long upon the consolidation breakout and Short BankNifty or come out of the Longs SL below recent swing low
Rupee is gearing up for move if dollar index starts closing below 99 then rupee will move towards 80 & 78. If dollar index move towards 104 then rupee can give more above 83 towards 85 & 87 then Bank Nifty also take back seat & IT sector move. Trade with stoploss & happy trading.
Summary: 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...
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...
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...
hello, USdinr short side strong support 81.8325 with resistance 82.0550
Past 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...
On weekly chart 1. volatility is contracting continuously in past 4 cycles 2. very long term consolidation at the top 3. RSI downsloping and squeezing Trade 1. write options till contraction going on 2. trade breakout on confirmation for a rally
Past 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...
FX_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...