venkatfx

venkatfx

Dollar is at previous support from where it rallied higher and its clear re test of Dollar now. I expect dollar to bounce from here since US equity started profit booking and its correction more now. And higher Crude means additional need for dollars to buy Oil each day. still now majority of countries still use dollars to buy oil right ?

venkatfx

In my view EurUsd is showing un winding of long positions, clear distribution signs in price action with strong resistance line holding on with RSI divergence indicating more down side in eurusd this week towards target of 1.08 for any demand to be tested. with crude turning bullish its sure demand for Dollars and Sell in EURUSD for medium term......

venkatfx

Dow is at a zone where supply was seen previously and today we need to wait and watch for clear direction.... any move above or down will give further direction to Dow today and till friday EOD

venkatfx

US equity has been in profit booking and correction mode for few days now. price at tested resistance assuring a target of 12200 before Friday closing

venkatfx

In general Euro looks bearish and moving down for lower levels like 1.08 and 1.07850 this week

venkatfx

for last few days Euro is bearish and lower levels are indicated in cart for target - 1.08 and 1.07850 on down side, will it happen this week needs to watched

venkatfx

As expected Fed Data and Meeting has triggered Sell in equity and Buy in Dollar pairs with Sell in Euro pairs as immediate knee jerk reaction for time being. with this we can easily see dollar index at 103.90 and 104.35 before next week !

venkatfx

Dollar has changed its trend and become Bullish mainly after Fed Data and meetings. Euro becoming Bearish all USD pair trend changed to Bullish and USDCAD is already in bullish trend continuation in Daily chart with Target of 1.42 and 1.48 is very visible in chart

venkatfx

Bearish trend is similar to that of S&P500 and Dow after the Feb data and meeting indicating a clear sell in equity with bearish sentiment for 2023.

venkatfx

Info and trend is similar to that of S&P500 after Feb data and meeting resulting in Sell in Equity and also long term bearish trend for 2023.

venkatfx

After Fed data and importance on Inflation is understood as higher priority to be controlled with less importance on growth it clear Sell in equity and its reflecting in charts as well with wave target of 3900 and 3840 before friday EOD ?

venkatfx

After Fed Data , Euro, GBP, Gold all going in to reversal side and not just correction..... so GBPUSD is a good sell for lower targets before Friday EOD

venkatfx

After Fed data along with Euro, Gold has also turned bearish. as per wave theory Gold is expected at 1910 before friday eod !

venkatfx

After Fed data Euro has started falling. EURUSD is in correction and bearish trend today... EURUSD could be bearish for rest of 2023

venkatfx

BN has fallen only due to US Bank news which is getting closed by other banks showing interest in Buying the sick bank, Buy price is also being revised upward. In my view the biggest banks like Citi, HSBC etc are stable. why any one giving so much importance to start up failures !!!!! only to buy at dips. I am expecting very big rally in BN and N in next 7 trading...

venkatfx

From Price Action, data etc its very clear 82.50 is acting as support and 82.75 and 83 as Resistance for rest of march 2023 month...... I think before march expiry 83 will be tested at least once !!!!!!

venkatfx

On 14th March 2023 , Nifty Spot prices to watch out are 17325 to 17375 (previous support broken area) and Fib levels - 17460 & 17540

venkatfx

as on 10 march closing usdinr price is at multi month support line, friday RBI FX data indicated RBI bought 2.5 Billion dollars. so till this support line holds one can buy usdinr for Target of 83. Pattern looks ascending triangle till now. on 13th march opening and closing price is above this trend line then we can see 83 in march 23 for sure.