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Indianrupee

USDINR The 2-year Rising Wedge is holding.The USDINR pair continues to respect the Rising Wedge that we mentioned more than 2 months ago (July 24, see chart below), giving us both excellent buy and sell signals: This 2-year Rising Wedge pattern is approaching its top (Higher Highs trend-line) once more so we're preparing for a sell signal again. The confirmation to sell within this pattern is given when the 1W RSI breaks above its MA line (yellow trend-line). Our Target is 83.7500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USDINR Bullish break-out signalThe USDINR pair broke this week above Resistance 1 (83.700), the long lasting level since the week of March 18 and following a strong rebound on the 1W MA50 (blue trend-line), the break-out should technically lead higher. The long-term pattern remains a Rising Wedge and we expect at least a symmetrical +1.29% Bullish Leg to price the Higher High, similar to the March High. Our Target is 84.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
USDINR Bearish unless it breaks that Resistance.The USDINR pair has been trading within a long-term Rising Wedge pattern since the November 11 2022 Low. The 1W MA50 (red trend-line) has been supporting all the way and in fact has made contact with the price and held on 3 occasions, with the most recent being on June 03. We are currently bearish as the price remains within the Rising Wedge, targeting its bottom (Higher Lows trend-line) at 83.2150. If however the pair manages to close a 1D candle above Resistance 1 (83.7000), we will take the small loss and open a buy, targeting the Higher Highs at 84.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
USDINR Sell opportunity to the 1D MA50The USDINR pair made a direct hit on our 82.700 Target, which we set on our last analysis (January 10, see chart below): Right now we see the price pulling back within a Channel Down. This is a standard pattern within the long-term Rising Wedge pattern, which as you see out of 7 Bearish Legs all broke below the 1D MA50 (blue trend-line) and only 1 managed to make just a hit-and-rebound. As a result we are going for a moderate sell Target at 83.100 and then we will reverse to buying, targeting Resistance 1 at 83.700. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USDINR Still bearish but we move our target a little higher.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 with the 1W MA50 (blue trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USDINR Neutral but needs a medium-term pull-back.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 (orange trend-line) at the bottom of the Wedge at 82.600. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USDINR: Watch closely for an insane 2024 rally.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 Bullish Cross though and the whole pattern supported by the 1W MA50 in July, we expect a bullish breakout to take place soon. The chart on the right which is on the 1M timeframe shows the incredible upside potential of the pair every time it breaks out. If we get the candle close we want, look for a buy and at least a +12.60% rise (TP = 92.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
4
USDINR Stuck in a Triangle. Trade the break-out.The USDINR pair is trading inside a 1.5 month Triangle (blue), following the upward break-out of the 1 year Ascending Triangle. The 1D MA50 (blue trend-line) has been supporting for 2 months and as long as it holds, buy when the price breaks above Resistance 1 (83.4200). The target can be 84.500, representing a +2.13% leg extension on a potential emerging Channel Up. If the 1D MA50 breaks, we will sell instead and target the 1D MA200 (orange trend-line) at 82.4500, which is marginally above Support 2. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
USDINR Triangle pattern on the 1D MA200. Trade the break-out.The USDINR pair is trading within a Triangle pattern with the 1D MA200 (orange trend-line) supporting on its bottom (Higher Lows trend-line). You can scalp inside the pattern for as long as it lasts (RSI also in a Triangle), but when a 1D candle closes outside the Triangle, trade the break-out's direction. Buy and target the 83.2900 Resistance in case of a bullish break-out, and the 80.500 Support in case of a bearish break-out. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
2
USDINR Sell when the MACD gives a Bearish CrossThe USDINR pair has been trading within a Bullish Megaphone since February 21 2022. Just 2 days ago, the price hit the top (Higher Highs trend-line) of this pattern and got rejected. We may see a pull-back towards the 1D MA50 (blue trend-line) or even the bottom of the Megaphone. The best confirmation to take that sell trade would be to wait for the 1D MACD to form a Bearish Cross. As you see, since April 23 2021 all seven MACD Bearish Cross occurrences have delivered substantial Lower Lows on the short-term, except for one time (May 24 2022). ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
1
USDINR- Broke the resistance zoneUSDINR has broken the falling trendline and also broke past an important horizontal resistance region of 78.15 - 78.20. This was broken with a huge candle. With this move, it has not only broken the horizontal and trendline supports, but also the tend of LL-LH. This is a clear bullish signal. However, we can't go away with the fact that the central bank may step in to control these levels. Let's see how the follow-through candles develop today and tomorrow on Daily timeframe. It shall retain the 78.15 - 78.20 region for further up-move.
by rjoshicool
#USDINR | Double TopPlease support this idea with LIKE if you find it useful. Price was rejected by the horizontal resistance which gives us a Double Top pattern, also we have an RSI is in an overbought zone. The price can retest the previous resistance of the Channel (currently support), so we can initiate a short position with a stop-loss above horizontal resistance Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable. Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial Advice.
UShort
by Anpu
USDINR | Channel's Resistance BrokenPlease support this idea with LIKE if you find it useful. Price broke the Channel's resistance zone. Price was trading with good volumes inside the channel, which points out it could be an accumulation. When price fixes above we can initiate a long position Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable. Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial Advice.
ULong
by Anpu
USD/INR: Uptrend about to resume?The USD/INR (Indian Rupee) pair triggered a bullish wedge pattern recently and entered into a consolidation. The price is now trading near the 38.2% Fib level which aligns with a horizontal support level, signaling a potential continuation of the underlying downtrend. Notice that the pair hasn't reached the profit target projected by the wedge pattern yet, which lies around the 73.50 level. We are following this setup in our Telegram group and wait for a buy confirmation
ULong
by MujkanovicFX