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Usdinranalysis

Decoding USDINR with Elliott Waves: A Comprehensive AnalysisDecoding 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 potential swing towards the north is anticipated. Invalidation Level: Post starting journey towards north Strictly set at the recent swing low of (c) of 2, serving as a critical point for the bearish bias. If breached, it might prompt a re-evaluation of wave counts on the hourly time frame. Elliott Wave Concept: Elliott Wave Theory proposes that market prices unfold in specific patterns, providing insights into potential future price movements. It identifies waves of various degrees, each with its own subdivisions, illustrating the cyclical nature of market psychology. Corrections, labeled as 2 or (b), are temporary pauses in the prevailing trend before the larger trend resumes. Validation of Elliott Wave counts often comes from adhering to strict rules and guidelines, including confirmation of trend reversals and respecting key invalidation levels. Conclusion: The USDINR pair, as per Elliott Wave analysis, is currently navigating a complex pattern with bearish signals on the hourly chart. However, the prospect of an upcoming swing towards the north is plausible post the completion of wave 2. Traders are advised to closely monitor the invalidation level as it holds the key to potential shifts in the Elliott Wave counts. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
by RK_Chaarts
14
USDINR looks strong on Daily & Weekly timeframe, heading to 77.8USDINR is rising on rising sharply due rising crude oil prices this week, as European nations has said No to Russian Oil. USDINR is looking strong and can head to levels of 77.8 where it can face huge resistance. If USDINR manages to trade above 77.8 levels on daily and weekly timeframes, then it is heading towards 78.5 levels. If BEARS managed to hold USDINR further upward movement or if RBI intervenes, then it can fall back to retest 77.4 levels. P.S. Most of this movement in USDINR this week would be dependent on how CRUDE OIL performs in global markets.
Long
by simplyansh
USDINR Bounce Incoming!USDINR has been bouncing off a long rising trendline since early 2021, and in fact has seen what you could reasonably call a clear uptrend on the larger timeframes since 2008. On the 12H chart and virtually all lower timeframes we're seeing oversold RSI reading, either with strong divergence (higher RSI, lower price) or flattening RSI with lower price, pointing to the current corrective wave coming to an end shortly. We've just seen price dipping in to enter the area of support representing our long trendline and seen an immediate bounce, and we have strong horizontal support just below current price. I think price will find support from buyers in this area and a significant move to the upside is imminent. This is not financial advice, you are responsible for your own trading decisions. Drop and like and follow if you enjoy the idea! Leave your thoughts in the comments below!
ULong
by HayeTrading
USD/INR Forecast: Indian Rupee on the RopesThe US dollar has gone back and forth during the trading session on Thursday as we hang around the ₹75 level. The ₹75 level in the past has been resistance, and it certainly looks as if it is the same situation now. I believe the market testing this major resistance barriers a sign of just how weak India is at the moment, as traders around the world continue to run away from risk. After all, with a new variant of coronavirus, a lot of people are a bit concerned as market participants continue to be worried about lockdowns. The US dollar is strong not only do to that, but the fact that the US economy is one of the stronger economies in the world. As long as the US economy continues to strengthen in general, that will more than likely work against India, unless of course the global supply chain start to open up again. Ultimately, the market is likely to continue to see a lot of momentum chasing, but we need to break above the ₹75.20 level to clear the short-term resistance. At that point, then it is likely that we go looking towards the ₹75.50 level. If we do break down from here, I see a significant amount of support underneath at the ₹74.50 level, where the 50 day EMA currently resides. Furthermore, it is starting to tilt to the upside, so that suggests that we are going to have more momentum from intermediate traders as well. It is not until we break down below that level that I think we might have a bit of trouble showing up in the market again. The market will continue to see a lot of noisy behavior based upon risk appetite, as the Indian rupee is of course an emerging market currency. EM currencies have struggled lately, as I have been observing in the South African Rand, Hungarian forint, and many others that I prefer to trade. Ultimately, I believe that the market will eventually go looking towards the ₹75.50 level, but it may take a while to get there. After all, this is a market that tends to be more of a grind than anything else, but as long as the US leads the world, it is difficult to imagine this market breaking down for any significant amount of time.
ULong
by SmoothJB
USDINRThe US dollar has enjoyed a relatively large move to the upside against multiple currencies for the last couple of months. It has been no different againts the Indian rupee, as emerging markets in general have struggled. With concerns about increasing coronavirus figures, global growth slowing down, and simple inflation, the US dollar has been what most people have been willing to bet on. Recently, we have seen the interest rates in America rise, only to turn back around as traders trying to figure out what the Federal Reserve is about to do. With the concern about supply chain issues, it has made trading the markets very difficult over the last couple of months. However, the Reserve Bank of India keeps a close eye on this exchange rate, thereby setting a nice opportunity for those looking to trade a range-bound market. Nonetheless, we have certainly seen quite a bit of upward pressure as of late, and sooner or later the US dollar should prevail. As things stand currently, the 75.50 rupee level seems to be very difficult to break above. We had tried to break out during the previous month but failed. You can see there is a weekly shooting star right at that level, which will attract a certain amount of attention by technical traders. Another thing to pay attention to is that we have seen a significant amount of support near the 73.50 rupee level, so I think this will be your range for the month. It certainly looks as if there is more of an upward tilt in this market, which makes sense considering just how well the US dollar has done against multiple other currencies. All one has to do is look at the euro, pound, or even the Japanese yen over the last several weeks. In a scenario where the US dollar is acting like a wrecking ball against so many of those currencies, a smaller one like the Indian rupee certainly stands no chance. Ultimately, I believe this will be a “buy on the dips” scenario over the next several weeks. Also, the market has the 50-week EMA just below, so that could give a little bit of psychological and technical support to the greenback. If we can break out to the upside and above 75.50, then 76 will be targeted.
ULong
by SmoothJB
1
USDINR-Consolidation Demonstrated with Short-Term SpikesThe USD/INR is near the 74.3600 price level as of this writing and has seen a low of nearly 74.2800 in early trading. However, when today began, the USD/INR was near the 74.5500 ratio as the pair tested highs last seen on the 12th of November. The Forex pair has seemingly created a rather restrained consolidated price realm the past handful of trading days; yes, there have been quick changes in value but trading has not been violent. After hitting a low of nearly 73.8400 on the 9th of November, the USD/INR moved higher and hit a ratio of approximately 74.6000 on the 11th. Since hitting this high the USD/INR has created a rather intriguing support and resistance exhibition technically, essentially trading within 74.2600 to 74.5000 with outliers occasionally breaking through the levels momentarily. The question for speculators now is how secure do they feel about the current display of consolidation. Based on the past month of trading within the USD/INR, speculators are not likely counting on the current price band of the pair to be sustained. Technically, it is easy to see the USD/INR has reached highs beyond the 74.64000 level as recently as the 3rd of November and in fact saw highs of nearly 75.4000 on the 18th of October. Lows for the USD/INR took place as written above on the 8th and 9th of November. If the consolidated mode of the USD/INR is actually sustained, it may be an indication that another test of lower values will be demonstrated near term. If current resistance levels near the 74.4100 to 74.4300 can hold back upwards momentum after this morning’s rather quick selloff, it may indicate that another wave of bearish activity could be produced. Conservative traders who want to test the downward momentum of the USD/INR which has shown signs of building since the 1st of November may be inclined to attempt quick-hitting positions which look for support to be tested again. Nearby values of 74.3000 to 74.2800 may prove to be enticing for short-term wagers that can be aimed for as take-profit targets with short term positions. Indian Rupee Short-Term Outlook Current Resistance: 74.4100 Current Support: 74.2800 High Target: 74.5100 Low Target: 74.1600
U
by SmoothJB
USDINRThe USD/INR is trading near the 74.9000 juncture in early trading today, after actually trading above the 75.0000 juncture briefly yesterday. Volatility in the USD/INR has increased as resistance levels have proven vulnerable and reversal off highs occur in swift choppy motions. After breaking through the 74.7000 level yesterday, the USD/INR saw an impetus of buying. While the pair has come off yesterday’s highs, the USD/INR continues to traverse within its upper price band. Yesterday’s higher values fractionally surpassed the upper mark achieved on the 19th of July of approximately 74.0300. Experienced traders within the USD/INR remember the higher range achieved in April when an apex of nearly 75.5700 was briefly touched on the 21st of April. The higher prices achieved in April occurred during a wave of coronavirus concerns hitting India. This time around the bullish momentum is likely being caused by a complex mix of a stronger USD due to nervous global investment sentiment and US central bank pronouncements. Technically, the 75.0000 may appear to be a key psychological resistance level. If this barrier is penetrated and prices are maintained above this juncture, it would likely be signaling that additional buying momentum will be generated short term. Speculators who believe the USD/INR is overbought and want to seek selling positions are advised not to be overly ambitious with their wagers and target limited downside movement. Current support looks to be around the 74.8300 level. Market conditions for the USD/INR are fast and traders need to be aware of the velocity of price changes that are potentially liable to happen if market conditions remain nervous globally. Speculators are urged to used solid entry price orders to make sure that their ‘fills’ meet their expectations. The USD/INR is certainly traversing the higher realms of its long-term price range. However, conservative traders are reminded the Forex pair has traversed these heights before. Trading above the 75.0000 is not out of the question and speculators who doubt higher moves will occur may want to look at a one-year price chart. Buying the USD/INR on slight moves downward and then looking for upside price action may be a worthwhile wager. Traders should be cautious, but current resistance levels may prove vulnerable. Traders may be tempted to buy the USD/INR around the 74.8700 to 74.8400 levels and seek limited upside momentum too for quick-hitting wagers.
ULong
by SmoothJB
USDINR ::: SHORTL O N G T E R M S I P T R A D E DATE: 20 MAY 2021 INSTRUMENT: USDINR TREND: SELL TIME FRAME: DAY CMP: 73.160 SELL BELOW: 73.118 STOP LOSS: 73.30 TGT 01: 73 TGT 02: 72.84 TGT 03: 72.70 TGT 04: 72.323 TGT 05: 72.70 DISCLAIMER: We are not S E B I registered analysts. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever. Leave a comment that is helpful or encouraging. Let's master the markets together.
UShort
by ajithchand-bhandaari
USDINR - Reaching solid support zoneThe current structure of USDINR is still weak and is probably moving towards 72.65 levels. The current chart shows two technical possibilities that suggest goos support zone in the 72-73 range. At First, there is trendline support, that the prices broke in April 2021, and the same trendline would now act as a support. Secondly, there is also a harmonic pattern probability whose support also coincides with the trendline support. So keep your eyes on price action, and be ready to take advantage of solid support. If you are trading this, you are trading at your own risk
Long
by manuagarwal21
1
USDINR ::: SHORTRISK DISCLOSURE Futures and options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Trade with risk capital only. The past performance of any trading strategy or methodology is not necessarily indicative of future results. Past performance is no guarantee of future results and should not be interpreted as a forecast of future performance. We make no promise as to the performance of the account and while the investment objective is major capital appreciation over time no representation is being made or implied that any account will or is likely to achieve profit. The value of your investments can decrease as well as increase and, as such, funds invested should constitute risk capital. The risk of loss in trading commodities and options can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. The high degree of leverage that is often obtainable in commodity trading can work against you as well as for you. The use of leverage can lead to large losses as well as gains. You should carefully consider whether your financial condition permits you to participate in futures trading. In so doing, you should be aware that futures and options trading can quickly lead to large losses as well as gains. Such trading losses can sharply reduce the value of your investment. All information provided on these pages is for fair use. Normal copyright protections apply to all commercial use of any documents or information. We are not responsible for any loss due to inaccuracies in the information provided. Nothing presented here should be construed as investment advice or recommendations.
UShort
by ajithchand-bhandaari