The market looks bullish in daily time frame. The FOMC meeting on 19/20 Sep'23 is expected the pause the interest rate at 5.50%, which keeps the USDINR less volatile. If the interest rate is increased USDINR will be bullish. There is 3 more trading sessions to decide the direction. www.federalreserve.gov www.forexfactory.com www.nseindia.com
hello traders, The market is at the verge of the ascending triangle breakout. The market is bearish today, so adding small positions at every possible dips at the far out of the expiry will be fruitful once the breakout happens and rally starts.
Hi Traders, Investors and Speculators of Charts 📈💰 The 15th BRICS summit was held in South Africa from August 22-24, 2023. There have been some important updates that concluded from this summit and if you're an active trader / speculator in the Forex, stocks or commodities market, you NEED to know about this. The BRICS countries (Brazil, Russia, India, China,...
Hi Traders, Investors and Speculators of Charts 📈💰 The 15th BRICS summit is being held in South Africa from August 22-24, 2023 and will undoubtedly affect the Forex market. The main reason for this, is the commonly know agenda of BRICS to implement a new reserve currency instead of the USD. More details on that topic here: The 5 Forex markets we'll consider...
The CMP(current market price) is at weekly resistance zone. Below scenarios can happen: 1. Bear :: If a daily candle closes below 82.5920, advisable not to enter the market as the triangle is about to converge leading to triangle breakout & also the Risk: Reward ratio would be small. 2. Bull :: If a weekly closes above 83.2850, this is a ascending triangle...
Daily is in Bull trend, but at 4H time frame the market is in range bound. If a 4H candle closes above 83.1575, then bull will be in control. The risk : reward ratio is 1:2.68 to 1:3.58.
Some traders will buy straight up the pullback back into the demand/support/break-out retest area while others will wait for a potential Stop hunt liquidity search of those traders and buy after that happens. I always like the idea of waiting for confirmation on smaller timeframes (1hr/4hr).... What are you looking for?
Starts with cuts, China cuts the Reverse Repo Rate, News of Michael Burry shorts surface and talk of the town here also. To his credit he predicted 2008 crash and a movie also made. His recent warnings include the warnings in 2021 which have not materialised. Till a week ago, bears are dead story remained. Correction and crash are completely different aspects....
83 is the popular movie on the famous victory of Indian Cricket. Another 50 days to go for the One Day World Cup. The left lower portion PIP graph is of USDINR. 83 has been the force kept pushing the dollar bull futile exercise, while narrative rupee bulls with chest thumping hops of deep down to the 80, drawing comfort of DXY failures (has not gone anywhere and...
Typically the upside breakout of an ascending triangle will travel 1X to 2X in distance equal to the height of the triangle at its widest point. This would imply an advance toward 86 and possibly toward 88. $USD/INR. The best way to play this is with Singapore futures IMO
In weekly the market is in Ascending triangle pattern. where the current market price is at weekly resistance. In daily time frame there is change in trend(from bull to bear) formed by double top neckline breakout, so the market is expected to fall further till the weekly ascending trend line(support). After the DT neckline breakout now the market is in retest,...
FX_IDC:USDINR Breakout Daily Chart watch closely for a test of the horizontal line. The USD/INR exchange rate is important to the U.S. stock market because it affects the cost of investing in Indian stocks for U.S. investors. When the USD/INR exchange rate is high, it means that it costs more U.S. dollars to buy a given amount of Indian rupees. This makes Indian...
USDINR has been trading in the 83-80 area since October 2022. The USDINR has been consolidating for nine months and is on the verge of breaking over the 83 barrier. If it breaks over 83 per USD, the pair might go to 86 within 6 months. When the rupee reaches 86 per USD, the Indian central bank may interfere. The ultimate target for Primary Degree Wave 3 may be 90...
The Rectangular Pattern in Wave IV suggests that the USDINR may rocket higher towards 86 before the end of the year. Because of the barrier rectangle pattern, the pattern is quite bullish.
USDINR is at the resistance zone, if manage to close below, we can see a potential downside. This is purely a technical view. Any change in sentiments can affect the price adversely. Please do like and subscribe. Any suggestions or advice is humbly welcomed. Disclaimer:I am not a SEBI Registered Analyst, and the views expressed here are solely my...
Instrument shows symmetrical triangle with high probability of bullish move till target area of 85. Would it go down, chances are slim? But who knows what MODI has in his mind :)
If we get a weekly close above 83, it would be a breakout of an ascending triangle pattern. One could expect a rally after a successful breakout. Also important to watch if weekly RSI closes above 60.