I reviewed the this chart first in Sept 2020. At that time, I was looking at top to form in USD/INR. Since then, the price made wild moves but still on the looks of it, it's not clear if the top is in place. However, the most important trigger that made me think and do a detailed analysis on this is the break of this trend line. You will notice the trend line from...
A flawless call in Nifty (Indian Equities) from the highs before Covid to the lows and back up in the opposing direction. We should all have made a killing on India, the pseudo-classical school always considers technical analysis as inferior, however this is not the case.
As a main theme, INR buyers now choose to load for 68-66 which is the new base...
Weekend Market Updates & Analysis 25 Oct 2020
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Recap
1) Let’s start the report with a review of last week’s update and market conditions. You can read last week’s report by clicking here: Weekend Market Update – 18 Oct 2020 |...
Weekend Market Update – 18 Oct 2020 | FCPO, Soybean, Soybean Oil, Currencies and Others
Take note that the updates here are 2 days late. If you would like the latest updates, please visit palmanalysis dot com
Review
Let’s start the report with a review of the past 2 weeks.
1) In my last update on the 4th Oct, I expected:
On Soybean
i. On Point 13 ii, I...
After decades old bull markets. The great indian growth miracle is going to increase demand of currency as biggest company of the world are coming to india.
USD_INR BROKE THE CHANNEL AND IS FORMING A TRIANGLE, SQUEEZED BETWEEN RESISTANCE AND A 2 YEAR SUPPORT LINE.
THE PAIR EITHER BREAKS UPWARDS AND CONTINUES TRADING INSIDE WIDER OR NARROWER CHANNEL>>> LONG AFTER CONFIRMED BREAKOUT.
OR THE TRIANGLE BREAKS DOWNWARDS>>>SHORT AFTER PULLBACK. ULTIMATE TARGET=SUPPORT 1.
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In this currency pair, it has been observed that the price action firstly built double top on the chart and now breaking the support of 87.5, which may result further weakness in Euro and INR may get stronger. Price action is expected to go down to next support zone at 86 levels with SL88.
Pattern: Channel Up on 1W.
Signal: Bearish as the price is reversing after a Higher High on the Channel Up, with the MACD making a bearish cross on significant downside potential.
Target: 71.500 (expected Higher Low on a roughly -8.40 decline).
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
A good time to update the chart in Indian Equities (NIFTY) for those following the EM story...
If you take a closer look at the below diagram " Top is in for the year.. " you will see that it is above all directed against an arithmetic conception of the 5 wave sequence from the cycle lows.
What is crucial is simply the greater or lesser degree of mobility...
We are doing Analysis of CrudeOil MCX on 1 Hour Timeframe.
The projected target from the breakout is usually the vertical distance from the high to the bottom .
Note: This is only for Educational Purpose this is not an Investment advice.
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Thankyou
Ankur Verma
Twitter : Ankurverma3838
In this positional chart, the INR is entering back into the game, whilst USD is nearer the end and thus already well-developed. That is decisive. So the more distant EM currencies like INR actually will act as a trump card and assist in diverting flows from the king, but like all trumps we must use them sparingly: do not jump the gun is the rule. The diverting...
Being an NRI, you always keep an eye on this one single currency rate → OANDA:USDINR
Based on an interest rate parity level, the Indian Rupee should be around 80-84 range. Still a long way to go...
