I believe the market is being managed due to the election year, Jun 24 will be very crucial, it seems the market will go down once the result is declare or after some time.
as usdinr is consolidating on the monthly chart in a very narrow range, an upside breakout is not good for equity .let's hope it breaks down
This is an update to our November 27 2023 idea on the USDINR pair where we issued a sell signal exactly at the top (Higher Highs trend-line) of the 1 year Rising Wedge pattern:
Our 82.600 Target hasn't yet been hit but due to the slower than expected decline, we have to modify our target and move it a little higher to 82.700, which marks a projected contact...
The currency pair continues to keep the market guessing as it moves swiftly from 83.10 to 83.35 and reverses back. Every time the pair comes closer to 83 there is good amount of buying interest. As observed in the previous blog, the market is refusing to believe this move as it has wedded to the logic that the currency pair will not be allowed to trade below 83.00...
Decoding USDINR with Elliott Waves: A Comprehensive Analysis
Weekly Perspective:
Daily Perspective:
4 Hourly Perspective:
Hourly Perspective:
Current Stage: Inside iv of (c) of 2 of ((1)) of wave V of wave (III).
Current Bias: Presently showing a bearish inclination on the hourly chart.
Future Outlook: Post the completion of wave (c) of 2 , a...
1 DEC- Analysis:
Currency
Price is consolidating at the top
USDINR opens:
side: if it gives breakout buy(100)
gapup: buy (100)
gapdown: if opens near previous day reversal + immediate breaks 5 min high then buy(100)
if it cosolidate in first half after gapdown then we can sell in second half after 11:30 am (100)
The USDINR pair has been practically ranged around the 1D MA50 (blue trend-line) since September but on a long-term perspective, close to the top (Higher Highs trend-line) of the Rising Wedge. This calls for a technical medium-term pull-back, especially with the Bearish Divergence on the 1D RSI, which is trading within a Channel Down. Our target is the 1D MA200...
USDINR : A probable lower high in the India's Forex Reserves, indicating that RBI is offloading dollars. A case for move down in the USDINR, thus the appreciating local currency.
Foreign flows into India to strengthen further.
#Nifty #BankNifty #StockMarket
USD INR is creating ascending triangle BO above 83.5
USD INR is creating ascending triangle BO above 83.5
USD INR is creating ascending triangle BO above 83.5
Possibly it should retrace to TL support before breaking out
Keep an EYE.
USD/INR on the daily chart, is seen as trying to push the level up.. 83.4 soon, then 83.5
Crossing the 83.5 will make a pattern that targets 84.08 in few days.
Stop loss is 83 - 83.1
Take a look how we navigated you correctly about USDINR!
The well-respected Reserve Bank of India (RBI) has been active in fx markets.
This gives us a flashback to Turkey's Central Bank, when they sold fx reserves to keep the currency. We all know that it ended badly and things usually escalate fast.
Keep your eyes on USDINR, as we expect it will soon break out.
USD will correct towards the range of 82.1-82.5 until the end of November 2023.
In the last week of November look for reversal patterns and rise towards 83.13 with possible top at 83.54 in January 2024.
This will be followed by a healthy correction and successful retest of 83 at the end of February 2024.
A breakout of 83.54 is expected to happen in the first half...
Check out how we guided you through USDINR move.
We said the satellite news was a sell for the Rupee.
The years long technical structure tells use USDINR is ready to shoot!
-Signalwyse Team
Hey Traders,
The United States Dollar has risen significantly VS the Indian Rupee.
This brings us to the question, when will it fall?
Here's my TA view.
USDINR is trading inside an Ascending Triangle on the 1W timeframe, with the 1W technical outlook constantly bullish (RSI = 59.515, MACD = 0.267, ADX = 38.795). This is despite 8 failed attempts in the last 9 weeks to close a 1W candle over the top of the Ascending Triangle, which on any other occasion would be considered a sign of weakness. With the 1W MACD on a...
COULD INDIA BE THE SAVIOR OF THE USD’S DOMINANCE?
The BRICS alliance aims to dethrone the US dollar’s global supremacy.
India’s rapidly growing economy has led to speculations about its potential role in this shift.
Despite being a BRICS member, India maintains strong economic ties with the U.S.
In the dynamic landscape of global finance, where the BRICS alliance...
As it confirmed our entry and is looking bullish. Because it formed Bullish Flag. Indeed it is a continuation pattern so yes I'm in. RR described in the chart and all other details are also mentioned in the chart. Drop a comment if you come across the chart. Thank you
