I'm anticipating this move prior any signal of reversal, I might be wrong since last candle have strong downside movement. And there is no sign of reversal yet. Considering Brexit, Head and shoulder pattern can be formed if we can see more strength in GBP or more weakness in INR in coming days. Which will help to complete this pattern and great setup to trade...
USDINR is right against the downtrend mode offering a very low risk opportunity to go short if we get a new daily low. The first entry, has a tighter stop, so risk half on this one, and half on the larger 3 atr stop entry. There are two possible targets, one at 65.44 and the other longer term target at 64.2882. If interested in my trading signals, or in personal...
INR GETTING STRONGER FOR WHILE AND IT LOOKS LIKE YEN CAN 0.52619 BEFORE GOING UP. CYPHER PATTERN COMPLETION IS A GOOD TIME TO BUY YEN. BUT CURRENTLY SHORT IT FOR A WEEK. RISK REWARD: 1:1
SHORT DOLLAR AS RUPEE LOOKS STRONGER RISK-REWARD: 1:3
After breaking resistance at 0.01499, it seems the trend will continue up for a while to complete at 0.01532 in order to complete Gartley pattern. If the trend is strong towards uptrend then it might ignore the pattern and keep going up. Just stay alert at taking bets on bearish gartley pattern. Risk Reward: 1:2
China's central bank guided the yuan lower on Thursday FX_IDC:CNYUSD . China's first shock devaluation in August jolted the global financial markets and Indian currency "INR" was also affected by this sudden move. This second devaluation has come at such a crucial time, when money market was expecting strengthening in "INR" and start of appreciating trend. Can...
Bonjour, Someone is really trying to protect the 67 handle. My guess it's someone with deep interest that the exchange rate for this pair doesn't pierce above that level ... maybe then they'll lose a lot of money. This pair has been in this ascending channel for quite some time ... are we going to see profit taking and a break of that channel or will it provide...
The BRICS (Brazil, Russia, India, China and South Africa) are highly watched emerging markets because they represented roughly 22 percent of global GDP in 2014. However, the global economic slowdown and increased geopolitical tension has weighed heavy on these markets. Although, India may be the most resilient economy out of the BRICS. India has felt its share of...
Watchout USDINR in coming weeks, it is looking to go higher and a breakout will cause INR to move very swiftly !! And the effect of breakout will be on Nifty as FII would start to pull out from India !! Better strategy would be Long USDINR and Short Nifty