FX_IDC:USDINR is forming a bat harmonic PRZ pattern. It just broke above point B level and activated the pattern. PRZ(Price Reversal Zone) level would be at 88.6% retracement of XA which is 95.4597.
Past 3 months USDINR is forming HIgher Lows indicating initial strength in the index, confirmation of strength and up move can be made once Higher high formation starts.
Any closing above 75.70 will trigger the up move here with Mid term Targets of 78.33, 80.42 and 81.66.
Long term Fibonacchi targets - 79.8, 84.4, 89.
Stop Loss is 73.35, if USDINR closes below SL...
USDINR has been in bullish upwards trend channel for last 4-5 years and has been consolidating sideways since Mar 2020. If it manages to close above 76 in next 2-3 months, it will be big breakout and soon we can expect it to reach 80-81 by Aug 2022 or earlier. Globally all countries are printing money and weakening the currencies and with all uncertainty around...
The US dollar has enjoyed a relatively large move to the upside against multiple currencies for the last couple of months. It has been no different againts the Indian rupee, as emerging markets in general have struggled. With concerns about increasing coronavirus figures, global growth slowing down, and simple inflation, the US dollar has been what most people...
USDINR - 08Dec2021
On the H4 timeframe, prices are consolidating near the highs, we could expect it to continue bouncing higher to 1st Resistance at 75.665.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 07Dec2021
On the daily, there was a follow through candle yesterday. We could expect price to bounce higher to retest previous highs at 75.665.
On the H4 timeframe, prices continue to bounce higher, we could expect it to bounce higher to 1st Resistance at 75.665.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 06Dec2021
On the weekly, USDINR follow through to close above the previous candle as well as descending trendline. We could expect further upside for this pair in the near future.
On the H4 timeframe, prices are at small gap fill area. We could expect it to pull back to at least 1st Support at 74.9735 before further upside.
This is for personal record...
The US dollar has gone back and forth during the trading session on Thursday as we hang around the ₹75 level. The ₹75 level in the past has been resistance, and it certainly looks as if it is the same situation now. I believe the market testing this major resistance barriers a sign of just how weak India is at the moment, as traders around the world continue to...
USDINR - 03Dec2021
On the H4 timeframe, price is still holding above the ascending trendline. Once it breaks below, we could expect it to drop to 1st Support at 74.7420.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 02Dec2021
On the daily, prices have broke above previous descending trendline and is now consolidating but it has not confirmed. We need to be cautious of the upside.
On the H4 timeframe, price bounced from the ascending trendline and is now above all MAs. But with the mixed signal from the daily, we need to be cautious from any upside.
This is for...
USDINR - 30Nov2021
On the daily, price failed to close above previous day candle as well as above the descending trendline.
On the H4 timeframe, prices made a W bottom and surge up higher. We need to be slight bullish bias on this pair but have to monitor how the price action will play out this week.
This is for personal record purposes only, not financial...
USDINR - 29Nov2021
On the weekly, USDINR closed above previous descending trendline. We will have to wait and see whether the price can close above this week.
On the H4 timeframe, prices made a W bottom and surge up higher. We need to be slight bullish bias on this pair but have to monitor how the price action will play out this week.
This is for personal...
USDINR - 26Nov2021
On the H4 timeframe, prices were not able to close above important level at 74.60. We should be cautious of further upside as there are higher possibility for the price to pull back and retest 1st Support at 74.1405.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 25Nov2021
On the daily timeframe, price have closed above 2 MAs. We should remain slight bullish for this currency
On the H4 timeframe, prices are still making higher highs and higher lows and should remain slight bullish on this currency. With DXY expected to pullback, USDINR may pull back before further upside.
This is for personal record purposes...
USDINR - 24Nov2021
On the H4 timeframe, prices pulled back from the resistance yesterday. With price unable to close above daily MAs, we need to be cautious with USDINR on the upside.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 23Nov2021
On the daily timeframe , price remain below 2 MAs. We should be cautious with USDINR on the upside as long as price is below these 2 MAs.
On the H4 timeframe, prices broke above to the descending trendline. We could expect further upside to 1st Resistance at 74.585.
This is for personal record purposes only, not financial advise or...
IDC
