INRUSD trade ideas
USDINR-Weekly Outlook-Venkat's BlogFor the third consecutive week the pair saw constant buying interest and posted higher highs and higher lows. Till we see a daily close below 81.80, we can assume that the pair would continue the consolidation phase between 81.80 and 82.80. While things look favoring further up move, we may find sellers emerging around 82.80 which is closer to the steep trend line resistance. Most likely scenario would be a consolidation between 81.80 and 82.80. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target.
A few more observations:
The currency pair reacting and reversing after successful attempt of the top of the break-down trend line
Presently the correlation between DXY and USDINR is not active and the Dollar Index-DXY is likely to hover in the familiar range of 101-105,
The raising upward channel indicate the broader range of 80.10-83.10
The increased volatility and wild swings likely to continue
$usdinr- blow off top incoming?posting this out of curiosity
1970ish is when Nixon said that the $ does not need any gold to back it since then its been up only
with a lot of countries dumping their us bonds and trading with other currencies it aint looking good for Uncle Sam specially with the $33 trillion debt? ( think i got the right figure)
dollar dumping to a ATL would mean everything priced in usd would rocket up since you need more dollars to buy the same thing
been waiting for this scenaro since 2017 so dont hold your breath for it to happen overnight but that's my general outlook
imo time to liquidate all usd denominated assets and pop it i emerging economies.
for now looks like we head on up still recon its USD's last tango
only time will tell
43.5 by 2034
USDINR-Weekly Outlook-Venkat's BlogThe pair took support at 81.45 and saw constant buying interest. As observed in the previous blog daily close above 81.75 made the pair attempt the steep trend line with a high as well as close of 82.43. While things look favoring further up move, we may find sellers emerging around 82.55 and then at 82.80 which is closer to the steep trend line resistance. Most likely scenario would be a consolidation between 81.35 and 82.80. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target.
A few more observations:
The currency pair trying to attempt the break-down levels in the reactive move
though the Dollar Index-DXY is likely to hover in the familiar range of 101-105, the correlation between DXY and USDINR is not currently active
The raising upward channel indicate the broader range of 80.10-83.10
The increased volatility and wild swings likely to continue
Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
USDINR - Weekly Outlook-Venkat's BlogThe pair took support at 80.90 and made an attempt to scale higher of 81.76 levels, it got sold-off again. The support at 80.90 is a tuff nut to crack and may consolidate in the range of 80.90 & 82.05 with choppy moves on either side. A close above 81.75 can be treated as a reversal for re-attempt of 82.55. Only a break below 80.90 can see the pair drift towards 80.50 and then to 80.20. Most likely scenario would be a consolidation between 80.90 and 82.05. A close outside this range requires re-assessment of risk/direction and target.
A few more observations:
The currency pair trying to attempt the break-down levels in the reactive move
The correlation between DXY and USDINR is not currently active
though the Dollar Index-DXY is likely to hover in the familiar range of 101-105
The raising upward channel indicate the broader range of 80.10-83.10
The increased volatility and wild swings likely to continue
Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
Compare to indaxHi this Vijay Shrivastava and
This is thinking 💭 🤔
I try to compare SGX NIFTY WITH USDINR for catch Nifty 50 next moment..
(1) I think Nifty will go up upro 100 point because sgx have a strong support zone from here and currency make resistance..
In my opinion I currency move to 81.3500 so sgx nifty also cross 18100 level and in Indian market Nifty will come to 18150 again....
And one more thing if currency go 81.3500 so I am also bullish in bank Nifty..
(2) if currency move up to 81.4500 to 81.5500 may be in that case we see Nifty in sideways zone..
(3) this is very important Nifty try to make support from here it's also like aresistance level if currency move up from here so definitely in next trading day Nifty will more down from here aprox 85 to 130 point...
So be raddy next day what ever market decide to go we raddy catch our luck 🤞 from here
..
Tomorrow market mood There to difficult to understand behavior Then whether it is of human or of market?
The mood of market for tomorrow by the comparison USDINR TO NIFTY 50..
USDINR is show down from its make a side way move ..
Is NIFTY follow this pattern then we see Nifty also is side way in tomorrow trading hours between 18100 to 18150...
USDINR Weekly Outlook-Venkat's Blog
The pair came under continued selling pressure. While the pair attempted to scale higher of 81.88 levels, it got sold-off again. The crucial support at 81.10 also gave up. The momentum is likely to continue and any pull back towards the trend line resistance at 81.80 and 82.20 is likely to see selling pressure. Break below 80.90 can trigger further stops being hit to see the pair drift towards 80.50 and then to 80.20. Most likely scenario would be a consolidation between 80.20 and 81.50. A close outside this range requires re-assessment of risk/direction and target.
A few more observations:
Steep trend line broken
The correlation between DXY and USDINR is not currently active and any spike in DXY need not necessarily impact this pair
though the Dollar Index-DXY is likely to hover in the familiar range of 102-105
The raising upward channel indicate the broader range of 80.10-83.10
The increased volatility and wild swings likely to continue
Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
Buy USDINR; Target of : 81.89The indian rupees remained under pressure, in price action there is support at 81.11 and same it has taken U turn from there. now we can see rally towards 81.89.. so trade can be executed with the given level. please follow strict stop loss at support level.
Please like and follow for future updates.
Thankyou.
USDINR- Weekly Outlook-Venkat's Blog
Disclaimer: The
The pair displayed its characteristic move once again. It holds on to a smaller range for longer time and suddenly slips or triggers higher. The break of 82.45 triggered a technical sell-off which saw further momentum taking the pair to the next major support at 81.10. The momentum is likely to continue and any pull back towards the trend line resistance at 81.70 and 82.20 is likely to see selling pressure. Break below 81.10 can trigger further stops being hit to see the pair drift towards 80.50. Most likely scenario would be a consolidation between 80.50 and 81.80. A close outside this range requires re-assessment of risk/direction and target.
A few more observations:
Steep trend line broken
We may not see a runaway in DXY. There can be relief rallies.
The Dollar Index-DXY is likely to hover in the familiar range of 102-105
Any spike in DXY need not necessarily impact this pair
The raising upward channel indicate the broader range of 80.10-83.10
The increased volatility and wild swings likely to continue
views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
USDINR Bearish setupUSDINR: it used to trade with 97% precision in regression channel trends,
which is now decisively broken.
The current candle seems more like a temporary pullback and the Indian currency might witness strength in upcoming sessions.
only believing charts, I would be comfortable having a short stance for target 79.95
USDINR | Trendline Support• Let see the trendline support will make the trend continue upside or reversal downside.
• If any "Daily candle" going to break "high of previous Daily candle", we can try for reversal as from trendline support with good Risk-Reward as chart showing that history had repeated many times.
• Entry:- 81.917 break. (Entry should be on previous candle high break . It is possible that , it may be upcoming candle's high.)
• Upside Resistances can become our targets.
Targets :- 82.721 , 83.039 , 83.200
Stop Loss / SL :- 81.605 Support zone . (After breaking previous candle high , our Stoploss will be low of that candle./ whose high going to break by price. )
USDINR stuck in range and waiting for a breakoutUSDINR is stuck in a range for last few weeks. Both price and RSI are oscillating in a narrow range. This price action would lead to sharp one-sided move on a successful breakout.
On downside, the target is around 81.90 and on the upside the target is around 83.30
USDINR- Weekly Outlook-Venkat's BlogThe pair finally broke the narrow range of 81.55-82.92 during last week. As expected possibilities of decent supply or lack of aggressive buying has resulted in the prices easing toward 82.30 which is another crucial level being the trend line support. Only a daily close below 82.30 would suggest further correction towards 81.90. Deeper corrections cannot be expected till we see a close below 82.10. Most likely scenario would be a consolidation between 81.90 and 83.70. A close outside this range requires re-assessment of risk/direction and target.
A few more observations:
narrow range broken
We may not see a runaway in DXY. There can be relief rallies.
Though the DXY attempted cross over of 105+, it got hammered
Any spike in DXY need not necessarily impact this pair
The raising upward channel indicate the broader range of 80.10-83.10
The increased volatility and wild swings likely to continue
Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
USDINR- Weekly Outlook-Venkat's BlogThe pair moved in a range of 81.55-82.92 during last week. The top at 82.96 remains same for the past 2 weeks there by making this a Tweezer top. There are chances that there could be stronger supply coming in at close to 82.95 and that the fresh flows could make the pair drift towards 82.44 and then to 82.10 support. Only a daily close below this would suggest further correction towards 81.90. Deeper corrections cannot be expected till we see a close below 82.10. Most likely scenario would be a consolidation between 82.20 and 83.20. A close outside this range requires re-assessment of risk/direction and target.
A few more observations:
The pair has a characteristic of moving in a very narrow range and suddenly moves taking everyone by surprise
We may not see a runaway in DXY. There can be relief rallies.
Full impact of the correction has not yet been seen in USDINR currency pair. Hence, the spikes in DXY need not necessarily impact this pair
The raising upward channel indicate the broader range of 80.10-83.10
The increased volatility and wild swings likely to continue
Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
USDINR-Weekly Views
The pair moved in a range of 81.57-82.96 during last week. The pair continues to move towards the crucial resistance at 83.10-83.30 zone. Though the pair has maintained a higher lows the top at 83.96 remains same for the past 2 weeks there by making this a Tweezer top. There are chances that there could be stronger supply coming in at close to 82.95 and that the month end flows could make the pair drift towards 83.44 support. Only a daily close below this would suggest further correction towards 81.90. Till then we may see one more week of narrow range of 83.10-82.40. While the monthly candle is still in progress, it appears that the pair may make one more attempt of the trend line resistance at 83.30. Deeper corrections cannot be expected till we see a close below 81.20. Most likely scenario would be a consolidation between 82.20 and 83.20. A close outside this range requires re-assessment of risk/direction and target.
A few more observations:
The long term trend line till at 83.10-83.30 levels holds for now and we are likely to see a consolidation between 79-82
We may not see a runaway in DXY. There can be relief rallies.
Full impact of the correction has not yet been seen in USDINR currency pair. Hence, the spikes in DXY need not necessarily impact this pair
The raising upward channel indicate the broader range of 80.10-83.10
The increased volatility and wild swings likely to continue
Seasons Greetings and Best wishes for a Happy New Year 2023
Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
USDINR-Currency ViewThe pair moved in a range of 81.20-82.76 during last week. Break above 81.80 which held for three weeks triggered sudden spike to next resistance at 82.75. While the monthly candle is still in progress, it appears that the pair may make one more attempt of the trend line resistance at 83.30. Deeper corrections cannot be expected till we see a close below 81.20. We can expect supply around the closer resistance at 81.80. We are witnessing demand driven by lower crude and outstanding unhedged exposure getting covered. Most likely scenario would be a consolidation between 81.20 and 83.20. A close outside this range requires re-assessment of risk/direction and target.
A few more observations:
The long term trend line till at 83.10-83.30 levels holds for now and we are likely to see a consolidation between 79-82
We may not see a runaway in DXY. The 105-106 range is yet another crucial price point and we may see further fall to 102.
The full impact of the correction has not yet been seen in USDINR currency pair
The raising upward channel indicate the broader range of 80.10-82.70
The increased volatility and wild swings likely to continue
Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
Indian Rupee bears need validation from 82.65- USD/INR picks up bids to reverse the previous day’s pullback from monthly high.
- Seven-week-old descending trend line, bearish MACD signals tease sellers.
- Sustained trading beyond 200-SMA keeps buyers hopeful of witnessing fresh record top.
USD/INR remains firmer around a one-month high as it jostles with a short-term key resistance line near 82.65 during early Thursday.
The Indian Rupee (INR) pair rose to the highest levels in a month the previous day before reversing from 82.77. In doing so, the USD/INR pair retreated from a downward-sloping resistance line from October 19 following the Reserve Bank of India’s (RBI) interest rate hike.
It’s worth noting that the failure to cross the aforementioned resistance line joins the recently bearish MACD signals to tease USD/INR sellers.
However, successful trading beyond the 200-SMA level, around 81.80 by the press time, keeps the pair buyers hopeful.
As a result, the quote is likely to remain firmer but the further upside needs validation from the previously mentioned resistance line near 82.65.
Following that, a run-up towards the all-time high marked in October around 83.45 can’t be ruled out.
Meanwhile, a downside break of the 200-SMA could welcome the USD/INR bears. That said, the late November swing high around the 82.00 round figure also restricts short-term declines of the pair.