The USDINR pair made a direct hit on our 82.700 Target, which we set on our last analysis (January 10, see chart below): Right now we see the price pulling back within a Channel Down. This is a standard pattern within the long-term Rising Wedge pattern, which as you see out of 7 Bearish Legs all broke below the 1D MA50 (blue trend-line) and only 1 managed to...
This is an update to our November 27 2023 idea on the USDINR pair where we issued a sell signal exactly at the top (Higher Highs trend-line) of the 1 year Rising Wedge pattern: Our 82.600 Target hasn't yet been hit but due to the slower than expected decline, we have to modify our target and move it a little higher to 82.700, which marks a projected contact...
The USDINR pair has been practically ranged around the 1D MA50 (blue trend-line) since September but on a long-term perspective, close to the top (Higher Highs trend-line) of the Rising Wedge. This calls for a technical medium-term pull-back, especially with the Bearish Divergence on the 1D RSI, which is trading within a Channel Down. Our target is the 1D MA200...
The USDINR pair is trading inside a 1.5 month Triangle (blue), following the upward break-out of the 1 year Ascending Triangle. The 1D MA50 (blue trend-line) has been supporting for 2 months and as long as it holds, buy when the price breaks above Resistance 1 (83.4200). The target can be 84.500, representing a +2.13% leg extension on a potential emerging Channel...
The USDINR pair is trading within a Triangle pattern with the 1D MA200 (orange trend-line) supporting on its bottom (Higher Lows trend-line). You can scalp inside the pattern for as long as it lasts (RSI also in a Triangle), but when a 1D candle closes outside the Triangle, trade the break-out's direction. Buy and target the 83.2900 Resistance in case of a bullish...
The USDINR pair has been trading within a Bullish Megaphone since February 21 2022. Just 2 days ago, the price hit the top (Higher Highs trend-line) of this pattern and got rejected. We may see a pull-back towards the 1D MA50 (blue trend-line) or even the bottom of the Megaphone. The best confirmation to take that sell trade would be to wait for the 1D MACD to...
07 MAY 2021 INSTRUMENT: USDINR TREND: SELL TIME FRAME: DAY CMP: 73.54 SELL BELOW: 73.424 STOP LOSS: 73.752 TGT 01: 73.298 TGT 02: 73.196 TGT 03: 73.058 DISCLAIMER: We are not S E B I registered analyst. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.
DATE: 5 SEPTEMBER 2020. INSTRUMENT: USDINR. TIME FRAME: DAY. TRADE TYPE: POSITIONAL. INDICATORS: PSAR: BULLISH STOCHASTIC: BULLISH DIVERGENCE. PRICE ACTION: CMP: 73.164 BUY ABOVE: 73.550 SL: 72.80 TARGET: 75.540 RISK DISCLOSURE Technical analysis of FOREX and INDIAN MARKETS. We are not SEBI REGISTERED ANALYSTS The views expressed here are for our record...
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. **