USDINR - 13Dec2021USDINR - 13Dec2021
On the weekly, price is above 61.8% Fib retracement and descending trendline. We could easily expect it to bounce up to 78.6% 1st Resistance at 76.1565.
On the H4 timeframe, prices continue to bounce above previous highs. We could expect it to bounce higher to daily resistance at 76.1565.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR trade ideas
USDINR - 09Dec2021USDINR - 09Dec2021
On the H4 timeframe, prices faced bearish pressure around the 75.60 area. With Stochastic at resistance level where previous drops occurred, we could expect USDINR to pull back to 1st Support at 75.16 before a bounce occurs.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 07Dec2021USDINR - 07Dec2021
On the daily, there was a follow through candle yesterday. We could expect price to bounce higher to retest previous highs at 75.665.
On the H4 timeframe, prices continue to bounce higher, we could expect it to bounce higher to 1st Resistance at 75.665.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR Technical ProjectionsPast 3 months USDINR is forming HIgher Lows indicating initial strength in the index, confirmation of strength and up move can be made once Higher high formation starts.
Any closing above 75.70 will trigger the up move here with Mid term Targets of 78.33, 80.42 and 81.66.
Long term Fibonacchi targets - 79.8, 84.4, 89.
Stop Loss is 73.35, if USDINR closes below SL all above views are negated.
USDINR - 06Dec2021USDINR - 06Dec2021
On the weekly, USDINR follow through to close above the previous candle as well as descending trendline. We could expect further upside for this pair in the near future.
On the H4 timeframe, prices are at small gap fill area. We could expect it to pull back to at least 1st Support at 74.9735 before further upside.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 02Dec2021USDINR - 02Dec2021
On the daily, prices have broke above previous descending trendline and is now consolidating but it has not confirmed. We need to be cautious of the upside.
On the H4 timeframe, price bounced from the ascending trendline and is now above all MAs. But with the mixed signal from the daily, we need to be cautious from any upside.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 30Nov2021USDINR - 30Nov2021
On the daily, price failed to close above previous day candle as well as above the descending trendline.
On the H4 timeframe, prices made a W bottom and surge up higher. We need to be slight bullish bias on this pair but have to monitor how the price action will play out this week.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 29Nov2021USDINR - 29Nov2021
On the weekly, USDINR closed above previous descending trendline. We will have to wait and see whether the price can close above this week.
On the H4 timeframe, prices made a W bottom and surge up higher. We need to be slight bullish bias on this pair but have to monitor how the price action will play out this week.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 26Nov2021USDINR - 26Nov2021
On the H4 timeframe, prices were not able to close above important level at 74.60. We should be cautious of further upside as there are higher possibility for the price to pull back and retest 1st Support at 74.1405.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 25Nov2021USDINR - 25Nov2021
On the daily timeframe, price have closed above 2 MAs. We should remain slight bullish for this currency
On the H4 timeframe, prices are still making higher highs and higher lows and should remain slight bullish on this currency. With DXY expected to pullback, USDINR may pull back before further upside.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 23Nov2021USDINR - 23Nov2021
On the daily timeframe , price remain below 2 MAs. We should be cautious with USDINR on the upside as long as price is below these 2 MAs.
On the H4 timeframe, prices broke above to the descending trendline. We could expect further upside to 1st Resistance at 74.585.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 22Nov2021USDINR - 22Nov2021
On the weekly timeframe, price found support near 74.00 and bounced but it is still below 2 MAs.
On the H4 timeframe, prices bounced back to the descending trendline. If price can close above the descending trendline, we could expect it to swing towards 1st Resistance at 75.555 easily.
This is for personal record purposes only, not financial advise or solicitation of trade.
Some basic chart patternIt is important to follow the chart pattern, it might give you the best entry and exit without the use of many indicators with higher chances of winning trades.
Look at the pattern I have drawn from the 1st of October 2021 to now, I hope this might help you in your analysis.
Thanks
Ravi Shankar
USDINR - 18Nov2021USDINR - 18Nov2021
On the H4 timeframe, prices faced bearish pressure from the descending trendline and dropped. Due to daily timeframe close below 50MA, prices are expected to drop lower to 1st Support at 74.1335.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 17Nov2021USDINR - 17Nov2021
On the H4 timeframe, prices are facing bearish pressure from the descending trendline. Due to daily timeframe close below 50MA, prices are expected to drop lower to 1st Support at 74.1335.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 15Nov2021USDINR - 15Nov2021
On the daily time frame, USDINR failed to continue its bullish momentum after a failed breakout 2 weeks ago. Last week price action also closed below 50MA indicating potential further downside.
On the H4 timeframe, prices have played out in the previous H&S perfectly. Now it is facing bearish pressure from the descending trendline in which we could expect it to drop to1st Support at 74.1335.
This is for personal record purposes only, not financial advise or solicitation of trade.