USDINR seems to be in sideways zone,and as international markets are not taking the two current war seriously it seems this trend will remain continue for long time
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...
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.
The swing in 4H time frame is still in the impulse wave of the daily swing.
The impulse of the 4H time frame swing has started(DB neckline breakout level 83.2500)
Caution :: FOMC meeting on 20 Sep'23 11:30PM IST and the current market price is at the weekly resistance of the ascending triangle pattern.
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.
Daily time frame took a support at the weekly support(Ascending triangle pattern).
4H timeframe the market is in range bound. The range bound has broke out, aggressive traders can consider to enter the marker, conservative traders may wait for the re-test and consider the swing.
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.
Hi traders,
Ascending triangle pattern in Weekly timeframe.
The current market is at Weekly support, if a 4H candle closes above 82.1400 can expect a bulls in the market.
The risk : reward ratio is 1:3 which is a good trade.
Fed meeting is on 26 July 2023, and expected to raise the interest rates by 0.25.
The ascending triangle pattern in a weekly timeframe is still active, last 2 days(24 & 25 July 2023) was a SL hunting.
The FED news will impact the INR, making USDINR to be bullish.
4H time frame : Inverted H&S pattern, neckline has broke and the target is 82.8210. This is for a aggressive traders
D time frame : Daily candle has to close above the LH level 82.2025 for the conservative traders.
Weekly time frame : The Ascending triangle is still valid pattern.
Have explained the Protective PUT strategy for those with the lesser capital and...
Daily Show on NIFTY, BANKNIFTY, FINNIFTY and USDINR, where we try and predict the market direction for tomorrow by technical analysis, Open Interest (OI) data analysis, FII DII data analysis and much more. This show gives insights into the market and is especially useful if you are a beginner who has just started options trading and wants to learn how to trade...
Daily Show on NIFTY, BANKNIFTY, FINNIFTY and USDINR, where we try and predict the market direction for tomorrow by technical analysis, Open Interest (OI) data analysis, FII DII data analysis and much more. This show gives insights into the market and is especially useful if you are a beginner who has just started options trading and wants to learn how to trade...
Wave A & B are done, wave C is overdue now. At the least C should be equal to A, providing for a ball park goal / target of 75.5.
Rupee getting weaker has seldom coincided with Nifty keeping going higher. Most of the time Stockmarket goes down whenver the value of Rupee goes down. It happened during September-October '20 also within this madenning equity...
