U.S. Dollar / Indian Rupee

It is the second most important trading pattern in Harmonic Pattern series , called Gartley Pattern which is also frequently observed in markets. This post a second post of educational series related to Harmonic Patterns , In this post, I cover the following things regarding the pattern 1. Pattern Traits 2. Step by Step formation of the Pattern 3. Bullish ...

Dollar vs indian Rubee

Expected rise in price after 7days period. The support near 64.550 region, making a pole pattern. Expected rise up to 65.22 for short term Long term growth expected up to 66.45

BUY @ CMP 64.620 with SL 64.400 for TARGET 64.950

We will get a pull back from support zone and after that we will take a flight to the Take Profit zone. Trade Carefully :)

USD INR made quite a move and the MACD divergence on the 240 suggests we might see a deep pull back, probably to the 382/ 50 FIB to 65.8/ 66.47 levels. I would wait for a break of the trendline and consolidation above the trend line to go long.

64.18, which is the 261.8% fib expansion level acted as a strong support earlier this month. The daily RSI shows higher bottom formation. With that in mind, one should watch out for a rebound from 64.18 levels, although only a subsequent break above 64.80 (Apr 20 high) would signal the bear trend has bottomed out there and could yield test of supply around 65.21 ...

Short at 64.70 Target 59.5 Stop 66.71 Risk to Reward: 1:2.5

USDINR is currently in a channel moving up, however I think its only a consolidation and if that channel is broken to the downside, we may see it go down to 62.899 levels. If it breaks up and breaks out of the 240 trend line, then it will be a deeper pullback, however I dont think thats happening now anytime soon.

Going long with sl of 64.90

The pair has found support around 64.76 (227.20% Fib extension). Today's positive candle would confirm a bullish price RSI divergence and open doors for a technical correction to 65.20 and 65.61 in the short-run. Also watch out for the breach of the descending trend line on the daily RSI. That would add credence to the bullish price-RSI divergence

Overall bearish. The marked entry is the origin of the selling pressure. The volume was high on that selling pressure. When price revisits that zone, expecting the pending sell orders would push the price lower again.

Is it trend reversal for USD/INR? Forms runaway gap to break major supports: The breakdown in USDINR continues with a renewed trending bias. The break of the 67/66.55 support zone (Jan breakout/July TL) highlights the importance of Fibonacci retracement violations confirming a deeper corrective phase. After break-away, run away gap at 65.2700 levels (refer ...

INR is on fire following ruling party BJP's victory in Uttar Pradesh elections. The monthly chart suggests a dovish Fed could yield a sell-off to the monthly 50-MA 63.33 levels. That means a 200 pip drop.The move could happen in a day or two if the Fed keeps the rates unchanged.

USDINR 2 hour SPOT (and not Future) chart. If you look at longer term charts, the downmove in USDINR was corrective. It now looks like an ED type of pattern (Purple lines) with multiple divergences on MACD/Fisher. A test of 66.56 to 66.58 would complete the pattern.

Hello guys, We have a good buy and sell setup but wait for break-out.

Another interesting trend-line presents as the reality dawns upon markets that the dollar may be rolling over.

Happy to see INR covering some ground. Will this free fall of @USD, will it test Yearly support line of 2016 of 66.5?