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USDINR(4hr chart). EW count, possible ABC. RSI(daily) b-div.
Looks like we are very near to complete a 44 year long bullrun in USDINR. Prices have moved up from 7.39 in 1974 to above 74 yesterday. Now is time for correction of this 44 year bullrun.
23.6 at 58 - 59
38.2 at 48 - 49
50 at 41 - 42.
USD INR bulls be careful. This is not a recommendation to long or short but a view on the pair.
=> With oil creeping higher again we are maintaining a bearish view on India
=> There is no reason for INR to no longer remain offered as US yields push higher and attract foreign capital and global uncertainties rise.
=> The Indian government deficit has rising for half a year now and we are seeing a widening of corporate spreads with equities selling off.
In this chart exercise, it becomes blatantly clear why the Aussie is often referred to as a proxy for emerging markets.
We've created an EM-weighted index with 7 currencies (Argentinian Peso, Turkish Lira, Russian Ruble, South African Rand, Chinese Yuna, Indonesian Rupiah, Indian Rupee).
Do you notice the extremely strong negative correlation? As long as the ...
=> Studies are starting to show we are extremely overbought here in USDINR and a mean reversion play looks imminent...
=> The daily close below 71.38 will confirm this and unlock both the 70.395 and 69.530 before there is anything else to the buy side.
=> Similarly to the USD/RUB and USD/TRY we are starting to see temporary short-term highs across most of the EM ...
Thank you very much for Stopping By !
Take care! (^_^)
Short USDINR Pair | Look For Bearish Divergence And Go Short !!
Target's : 70|68
Stop's : 0.50 INR Stop Distance According To Your Entry
Don't Forget To Hit The Like's To Support Us !!
it's long term weekly bullish
USD/INR offers a very great chance after we`ve created this awesome ATH!
Does the market want a retracement?
What we see is a Double-Top-Pattern which is usually a Trend-Changing-Signal.
The DXY currently shows weakness and could benefit other currencypairs like "USD/...".
Target 1: ...
In Recent times we have seen Rupee making fresh lows against dollar which resulted in forming double top pattern.
CMP is 71.73
NECKLINE is 71.45
If Neckline gets broken I am expecting 69.95
IF this Happens Expect Nifty Touching 11700 again
USDINR is now moving away lower from its all-time highs near the 72.90, which was reached today. As we can see from the chart, the pair continues to trade above a few upside lines. For now, the main focus will be on the steepest short-term upside line, taken from the low of the 9th of August. If USDINR reaches that line and bounces off of it, this ...
Though the long term trend has been undoubtedly bullish, going by certain indicators it would seem time for a correction. Guess it's time to short USD/INR in the short to medium run.
It appears now INR may depreciate to 75 a psychological barrier and then recover back to around 71. While recovering, 70 will be a crucial base and 68.5 to 69.5 will be a strong base. Further appreciation below 68 or depreciation above 75 will be post May 2019 elections.
Breakout and Next levels.
since the daily chart stoch rsi , and rsi shows overbought condition and we are heading to 1.618 ext of last rally down on daily chart , and counting wave 4 extension of 3.618 fib , and could be a great short opportunity for overdue correction
Judging by the state of play in the emerging market currencies, it's little wonder that the AUD/JPY has been performing so badly. Brushing aside the domestic affairs in the Australian economy and its implications for a more dovish RBA, this chart, which factors in equally weighted proportion the IND, IDR, ASR, TRY, RUB, CNY and ZAR as a rough indicator of the ...
hmm lets see