USDINR trade ideas
USDINR - 28Oct2021USDINR - 28Oct2021
On the H4 timeframe, price is still below the h&s neckline in which it could face further bearish pressure to 1st Support at 74.6950. If price closes above the neckline, h&s will be invalidated.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 26Oct2021USDINR - 26Oct2021
On the H4 timeframe, price continued to bounce higher with limited upside. If price close above 1st Resistance at 75.1800 today, h&s will be invalidated.
For now, we could expect it to pull back to 1st Support at 74.695
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 25Oct2021USDINR - 25Oct2021
On the daily timeframe, USDINR finally bounced from 20EMA and 1st Support at 70.6950. It is now at previous breakdown area at 74.940.
On the H4 timeframe, price bounced back to the resistance level. It has now rebounded to neckline of h&s , price target around 74.075. For today, we could expect it to face bearish pressure and dropped back to 1st Support.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 22Oct2021USDINR - 22Oct2021
On the H4 timeframe, price broke down from h&s , price target around 74.075.
For today, we could expect it to bounce back to 1st Resistance at 74.99 before dropping to 1st Support at 74.6950.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 21Oct2021USDINR - 21Oct2021
On the H4 timeframe, price broke down from triangle pattern, price target at 74.075.
For today, we could expect it to bounce back to 1st Resistance at 74.99 before dropping to 1st Support at 74.6950.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 18Oct2021USDINR - 18Oct2021
On weekly timeframe, price broke out of descending trendline and swung towards 1st Resistance before pullback below 23.6% Fib retracement support but was not able to confirm above. We could expect a short-term bounce before a deeper pullback this week.
On the H4 timeframe, prices held support. We could expect a short-term bounce to 1st Resistance.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 13Oct2021USDINR - 13Oct2021
On H4, USDINR swung towards strong 1st Resistance at 75.600. We could expect it to pullback to at least strong 2nd Support at 74.98.
Stochastic is also at resistance where previous drops occurred.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 12Oct2021USDINR - 12Oct2021
On H4, USDINR continued to climb higher, however it should have limited upside. There is strong resistance at 75.60. Stochastic is also at resistance where previous drops occurred.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 11Oct2021USDINR - 11Oct2021
On H4, USDINR bounced and closed above the major resistance of 75.12 at the last hour. This could be a bull trap as both H4 and H1 Stochastic and RSI indicating negative bearish divergence.
We could expect it to pull back to 1st Support before going much higher in the future.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 08Oct2021USDINR - 08Oct2021
USDINR pulled back nicely yesterday, expecting to retest major 1st Resistance at 75.00. Will need to monitor closely whether price can close above.
Most likely will face bearish pressure today and break above 1st Resistance next week.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDINR - 07Oct2021USDINR - 07Oct2021
USDINR have played out the inverse head & shoulder target to 74.840. We could expect to it pullback to 1st Support before further monitoring the price action. Stochastic is also coming into resistance where it could pullback further
This is for personal record purposes only
USDINR USDINR faced resistance near the falling trendline from the 2020 top,
it came close to touching it but turned lower,
also hit has broken down recent support trendline too,
another move to the bottom end of the triangle near 72.47 should develop,
if this triangle is complete as presumed then we should break below 72.47, and that would be b d trendline and it can make it more bearish.
Key Levels are Mentioned on chart
Wave Structure
Trendline breakdown
Macd in daily negative and crossed under zero line
Rsi in daily below 40 and down tick
Lower bollinger band challenged in daily time frame
Dmi adx also Negative ungli
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
USDINR ::: BULLISH :::DATE: 11 SEP 2021
INSTRUMENT: USDINR
TREND: BUY
TIME FRAME: DAY
CMP: 73.5140
BUY ABOVE: 73.5900
STOP LOSS: 73.3294
TGT 01: 73.6390
TGT 02: 73.8835
RISK DISCLOSURE:
We are not S E B I registered analysts. VIEWS EXPRESSED HERE ARE FOR OUR RECORD PURPOSES ONLY. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.