The US dollar has been on the rise late, with equity market weakness translating into a upside for havens such as the greenback. For USDINR this has brought the currency pair back up into a major historical resistance level that could yet cause a significant breakout or reversal. The key line in the sand comes in the form of the prior swing-high at 82.79. A break...
www.tradingview.com
USDINR Weekly Flag and Pole
Upper Triangle Bullish Pattern
Going to take retracement from 50 EMA
wait till break out 25 Dec 2023
81.917 to 83.285 Range
USDINR is at the resistance zone, if manage to close below, we can see a potential downside.
This is purely a technical view. Any change in sentiments can affect the price adversely.
Please do like and subscribe. Any suggestions or advice is humbly welcomed.
Disclaimer:I am not a SEBI Registered Analyst, and the views expressed here are solely my...
Instrument shows symmetrical triangle with high probability of bullish move till target area of 85. Would it go down, chances are slim? But who knows what MODI has in his mind :)
Daily Show on NIFTY, BANKNIFTY, FINNIFTY and USDINR, where we try and predict the market direction for tomorrow by technical analysis, Open Interest (OI) data analysis, FII DII data analysis and much more. This show gives insights into the market and is especially useful if you are a beginner who has just started options trading and wants to learn how to trade...
If we get a weekly close above 83, it would be a breakout of an ascending triangle pattern. One could expect a rally after a successful breakout. Also important to watch if weekly RSI closes above 60.
Daily Show on NIFTY, BANKNIFTY, FINNIFTY and USDINR, where we try and predict the market direction for tomorrow by technical analysis, Open Interest (OI) data analysis, FII DII data analysis and much more. This show gives insights into the market and is especially useful if you are a beginner who has just started options trading and wants to learn how to trade...
As posted back on Jun 7 the INR was in trouble along with many other emerging market currencies that
could end up in a crisis. Since then INR has dropped -7%. (Though the Chart I posted before was a Monthly
not too dramatic) I am starting to see more and more signs that a crisis might unfold in the near future.
Caution!
Firstly it formed the bullish divergence with a Inverse Head and Shoulder. It is looking for a reversal and you can put your Buy Stop a bit above the neckline and let the trade go
Past week saw a steady decline from 82.47 to 81.85. As observed in the previous blog the declines are used as opportunity to hedge the Imports. A close below 82.00 favors further lower levels. The currency pair is at a crucial support. It appears that the pair seems to be in no mood to breach 81.70 on a closing basis. In such scenario we may expect a...
as of my TA, it is most likely to break trend support, then the rest is on major support, if it gets supported then I need to post another idea if not then it will get support in the lower red Major support, and it will be most chances it will stay there until or unless, there is any major change in international economics if the change happened at the...
Here is fruit of patience, first Take Profit point(Trend Support) have been touched well, I believe you have booked profit, now you can lower down your SL(stop loss) Point, at 82.68, below our Short level,
wait for 81.36, to book big profit!..
Past week saw a narrow range of 82.40-82.69. As observed in the previous blog the declines are used as opportunity to hedge the Imports. Only a close below 82.00 favors further lower levels. It appears that the pair seems to be in no mood to breach 81.70 on a closing basis. In such scenario we may expect a consolidation between 81.95 and 82.70. There could be...
Past week saw a decline from its peak of 82.78 towards 82.23. As observed in the previous blog the declines are used as opportunity to hedge the Imports. Only a close below 81.70 favors further lower levels. At least for the moment, it appears that the pair seems to be in no mood to breach 81.70 on a closing basis. In such scenario we may expect a consolidation...
This is usually a bullish pattern but my senses are telling that this could give a breakout downside. Wait for breakout on trend line downside and play
A pattern has formed on the USDINR chart with a flat resistance top at around 83 and a rising trendline with gradually higher supports. It could be identified as an ascending triangle pattern.
A breakout in either direction could increase momentum and open up a range of about 3 rupees.
Keep watch.
