Get started

INR

ridethepig | India Closing the ChapterIn this positional chart, the INR is entering back into the game, whilst USD is nearer the end and thus already well-developed. That is decisive. So the more distant EM currencies like INR actually will act as a trump card and assist in diverting flows from the king, but like all trumps we must use them sparingly: do not jump the gun is the rule. The diverting exchange of Covid flows was simply the prelude to the king (USD) marching home, which will follow in the coming weeks/months. Indian Equities were denied the advance as anticipated, the trip towards the lows was somewhat time-consuming and the travelling companion INR was too dilatory....As the currency devalued as did local stocks... In any case, the correct procedure is getting our companion (INR) and using it as a weapon to wield influence and thank holders for their loyalty. We should make good use of the cheap currency and the move that now follows by looking to sell the highs in USDINR for a move not too late after. The trip we are planning for should be carefully prepared before pulling the trigger, if possible make use of any overshoots in USD (remember we still have the 1.05/1.06 unlocked in EURUSD for reference on G10). All that before playing the diversionary swing! Softer oil will help Indian significantly as the deprecation pressure on INR was starting to crack through the economic defence. India will need an appetising fiscal policy and less reluctance from the CB to intervene. These are starting to enter into play and can be a major game changer for India in the coming months.
Short
by ridethepig
#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
Large Swing In Play For USDINR in 2020Here we are tracking the 2020 macro map for USDINR, a high yielding EM currency. The expansion in volatility here will come from CB coordination, and being short USDINR which generally would also support a view for better risk appetite means it acts a great portfolio hedge for those looking for high carry. On the INR side, macro figures are starting to indicate further upside although still stuck in low gears. The tax cuts from the fiscal side doing some of the heavy lifting thanks to Modi (India's version of Trump). Inflation is subdue with a lot more slack left in the labour market and a cheap commodity board. Should investors see the deficit handled appropriately then all boxes are checked for capital flows into India. Demand for INR looks set to improve and combined with the USD devaluation theme it makes a great few months for INR to see some appreciation. Risks to my thesis come from US-China protectionism, private capex not picking up (low odds after the attractive tax cuts) and to a lesser extent if RBI push the INR down by accumulating.
UShort
by ridethepig
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
INDIAN RUPEE VS U.A.E DIRHAMS ForecastGuys, INR/AED pair is poised to go higher till .0532 during January 2019 , from there there are two possibilities described below - A) It may reverse from that point considering its testing all time low support line (Black line) which now will act as a strong resistance line, and hence price will go low to the new lows around .470 mark. B) If, the price pierces back this strong resistance and enters into historical ranges, it may go up till .550 during MAY-JUNE 2018 which can act as a strong resistance to upside, because there is a strong downward trend-line(Blue-trendline) coming into play and hence it may go lower to create new all time lows around.470 during DEC 2019. Route A and Route B are moreover evident from Fibonacci retracement from DEC 2013 level and FEB 2013 highs as well. So Fib levels are also in direction of the Route A and Route B predictions. Final Analysis : Go long on this pair now - Buy and hold till .0532 and look for selling opportunities from (.532 to.550) ZONE and sell it to the (0.432)ZONE Good luck, Thanks. MELVIN SABU
Long
by melvinsabu