EUR/INR is in a downtrend as it makes lower highs and new structure lows, therefore in this situation it forms a descending triangle pattern, which is a bearish pattern formation. I'm looking for a breakout downside with a strict stop loss at 73
In this I'm looking for a break in a rising wedge as the wave 5 of a upend could end and Indian rupee would start appreciating.
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...
Short on red line. This is a carry idea. India has a nice swap value.
The pair shows a nice reaction off the weekly trendline after creating a double bottom at the 45.35 Level We have already seen a large weekly bullish engulfing candle, providing conviction that the level is holding. Targets fall at upper resistance 56.56
Preferred view suggests the pair is in an impulsive rally from the 1970s. Wave (III) ended at 49.16 and decline to 39.03 ended wave (IV). Wave (V) rally has since resumed from 39.03 low, and wave (V) rally is unfolding in 5 waves with wave I of (V) ended at 51.58, wave II of (V) ended at 43.88, wave III of (V) ended at 61.8, wave IV of (V) ended at 58.6, and wave...
A perfect chart ...every thing seems to drop in place ....In wave 5 ...angle of rising of INR seems to be in between 60 -65 degree ....and with dollar strength this move will not surprise us ....May be a rate increase by FED would launch this into 63 degree into its correct orbit.....
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
$EPI: a 50% retracement of the 2014-02-03 to 2014-09-08 up wave would put it @ $19.68.