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USDINR

USDINR - 24Feb2022 (revised)USDINR - 24Feb2022 (revised) USDINR have busted through resistance levels in my previous analysis so releasing a revised. On the H4, price broke above the descending trendline and is now coming into 61.8% Fib + ascending trendline resistance at 75.1880. We could expect the price to meet bearish pressure at this level. Now waiting to see whether price can confirm above 200MA on H1. This is for personal record purposes only, not financial advise or solicitation of trade.
by TTMFS
2
USDINR - 22Feb2022USDINR - 22Feb2022 On the daily, price found support near 200MA after dropping and confirming below 20EMA & 50MA. The price could rebound to test 1st resistance at 74.880. On the H4, price have retested and close above 23.6% Fib retracement before facing bearish pressure and closing back near the previous day lows of 74.50. As daily is on support, we could potentially expect price to bounce back to retest H4 1st resistance at 74.8850 This is for personal record purposes only, not financial advise or solicitation of trade.
by TTMFS
2
USDINR set up for a bounce?USDINR has met a perfect confluence of lower trendline support and horizontal support on the Daily, and has just seen a small bounce of this support as confirmation. Before the bounce we saw RSI drop to 26 on the Daily and even lower on the smaller timeframes. In our last idea we predicted an incoming bounce, with potential to drop to this horizontal support level before the bounce occurs. If we see further positive movement it creates a strong risk/reward opportunity, so setting a stop limit order a little ahead of the current price with a view to catching the early stage of a reversal after confirmation could set us up for a nice trade (NOT financial or trading advice).
ULong
by HayeTrading
8
USDINR - 24Jan2022USDINR - 24Jan2022 On the daily, price bounced higher but faced bearish pressure and is consolidating just below the 20EMA. As long as the price didn't close above 74.70, we could expect price to face bearish pressure. On the H4, price pulled back below 38.2% Fib at 74.346. It could potentially pulled back to 61.8% at 74.115. If the price break above 74.70, we could expect it to trigger inverse h&s for higher prices. This is for personal record purposes only, not financial advise or solicitation of trade.
by TTMFS