In this I'm looking for a break in a rising wedge as the wave 5 of a upend could end and Indian rupee would start appreciating.
US dollar appreciated against most of the currencies in last 1 year. I expect to see some range bound short term long position to be fruitful. The Oil price and political situation putting pressure on USD. Can expect Trend reversal in early 2016.
The BRICS (Brazil, Russia, India, China and South Africa) are highly watched emerging markets because they represented roughly 22 percent of global GDP in 2014. However, the global economic slowdown and increased geopolitical tension has weighed heavy on these markets. Although, India may be the most resilient economy out of the BRICS. India has felt its share of...
We do not see solid trades at the moment. We are waiting with an inclination to short.
Short on red line. This is a carry idea. India has a nice swap value.
The pair shows a nice reaction off the weekly trendline after creating a double bottom at the 45.35 Level We have already seen a large weekly bullish engulfing candle, providing conviction that the level is holding. Targets fall at upper resistance 56.56
Preferred view suggests the pair is in an impulsive rally from the 1970s. Wave (III) ended at 49.16 and decline to 39.03 ended wave (IV). Wave (V) rally has since resumed from 39.03 low, and wave (V) rally is unfolding in 5 waves with wave I of (V) ended at 51.58, wave II of (V) ended at 43.88, wave III of (V) ended at 61.8, wave IV of (V) ended at 58.6, and wave...
USDINR is in a Long Term Uptrend & is forming a Bullish H&S Continuation pattern. Move above Neckline could Trigger a Continuation Up Swing. Fundamentals are also in Sink as Fed is mulling / Poised to increase Rates While RBI is Lowing the Interest rates to Spur Growth while taming the inflation Cycle which supports the Devaluation of INR ie an Uptrend in USDINR...