The Mauritian Rupee has been losing ground against the US Dollar and has lost almost 35% since 2014. The recent spike has accelerated this depreciation. Would the influx of tourists following the reopening of the borders - which should increase the supply of forex in the market - bring about a stabilisation in the USD/MUR rate?
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...
Gold has always been the flight to safety.
With ongoing economic turbulence across countries due to Corona V2.0 aka Lockdowns v2.0, gold will prove itself as the numero uno store of value this year.
Needless to say Q1 2021 has been the worst for the Indian Rupee. Indians don't have the option to hoard $$ legally but only GOLD.
on a bullish impulsive wave we can see there exist a Hidden Bullish Divergence with MACD which is the sign of trend Continuation, followed by a Milled Bullish Divergence
there total of 2 Targets Defined by Fibonacci projection,
79.50 Rs seem to be a good target for the end of 2021
A requested currency pair - Technical and Fundamental view of USD/INR!
Fundamentals: The countries of BRICS are facing a very difficult time especially India due to covid levels - fundamental aspects of there currency: They had kept rates unchanged, I expect that to continue for while. As The dollar decreases, I expect it to follow the trend it is going in...
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...
A bat pattern seem to be maturing on the last part of it's journey, from leg C to leg D.
Sell from 75.948 (approx) for a R/R of 2.08% on T.P 1.
Sell again from 75.948 (approx) for a R/R of 3.31% on T.P 2.
Thanks & good luck in all your trading.
The main trend is a downtrend; however, it does not mean we cannot take a little profit in a downtrend. As it is against the steam, we put our stop tight here.
Final target: 71.22
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The USD/INR (Indian Rupee) pair triggered a bullish wedge pattern recently and entered into a consolidation.
The price is now trading near the 38.2% Fib level which aligns with a horizontal support level, signaling a potential continuation of the underlying downtrend.
Notice that the pair hasn't reached the profit target projected by the wedge pattern yet,...
USDINR seems to have completed a 5 wave move as per ending diagonal pattern shown as 1-2-3-4-5, and also an impulse wave of higher degree shown as (1)-(2)-(3)-(4)-(5). Can expect a fall to 70.41 by 30/08 - 04/09
A move above 72.30 invalidates the pattern.
Wave count in Nifty too supports short term weakness.