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...
Strength of USD versus currencies of EU, Japan, China, India, Russia, Mexico, Brasil, Saudi Arabia, Turkey, South Korea.
There had been a cosmic demand for dollar but as COVID hit USA from April 6 we saw a breakdown.
Now we are at major support, on the monthly balance point, from which a push up is likely but not guaranteed.
The area between CAMS1 and CAMR1 is...
USD INR promising a bullish rise but we see a bearish change on pin bar 73.415.
Bearish interest here.
All of my market shared technical set-ups are speculative, they are not guaranteed for accuracy or in completeness in the form of any content. At this profile page, the analysis, ideas and also, the strategy of a chart belongs to Khiwe; -it is not to advice on...
USD INR Analysis - US Dollar Indian Rupee Forex Analysis - USD INR Prediction
The idea is to go long following the major trend, but wait the end of the price retracement before going long.
USDINR still in Bullish territory
long at 73.2500 stop loss 72.7250
breaching 72.7450 leads to down side 71.650
intermediate support at 70.150
Target 75, 76, 77
long term support at 68
closing below 68 enters bearish territory until buy on dips strategy USDINR
USDINR had initiated a major correction after completion of 5th impulsive wave which was a diagonal.
Recent correction is now forming a C wave which is targeting 72.5 which might end the formation of Wave W in a complex correction.
The current Wave C is expected to end at around 12 to 20 Oct 2020.
And the chart is self explanatory.
Several economic figures in the United States are projected to push the dollar lower than its rupee counterpart. Risk aversion will benefit India’s economy with surges in gold prices, instead. The US is projected to report a decline in three key figures: Composite PMI, Manufacturing PMI, and Services PMI for the month of September. As the pair’s 200-day moving...