USDINR Trade : Bearish on technical chart !Watch out for support level 1 and 2 in near term
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USDINR trade ideas
USDINR : 13/02/2020No changes since yesterday ...Held the Support @ 71.20 and bounced from there and we are pretty much at
where we were yesterday ... 71.12 - 71.17 remains the Support and given the not so pleasant CPI and IIP data
USD INR should depreciate
Resistance @ 71.35 - 71.40
Resistance 2@ 71.50 - 71.55
Posts are not recommendations!
Sideways Market, Sell at higher levelAs the longer timeframe is in downtrend sell at higher price and book profit at low price.
USDINR : 12/02/2020Held the Support @ 71.18 and bounced from there and we are pretty much at
where we were yesterday ... 71.12 - 71.17 remains Support till we get a fresh
trigger in the domestic or global economy and 71.35 - 71.40 is the first Resistance.
Posts are not recomendations!
Breakout above 72.25 and now bouncing off the breakout zoneBreakout above 72.25 and now bouncing off the breakout zone to reach 70.5 to 70.75 area before the budget announcement.
Then the break above 72 or retracing back to 70.5 zone.
Time to go long!!!Its time to go ling since the level has reached to VAL i.e. 70.70 by considering the market profile from Aug to Oct till date. No issues, even if this has broken the POC support. But now VAL is the major and strong support.
Yes, time to go long.
Time to keep sharp eye and add the positionsSince, USDINR is taking full strong support at 70.90 levels. Hence, one could go long once price reaches at this levels with the strict stop loss
70.60
USDINR Daily Chart: An ending diagonal coming home?USDINR seems to have completed a 5 wave move as per ending diagonal pattern shown as 1-2-3-4-5, and also an impulse wave of higher degree shown as (1)-(2)-(3)-(4)-(5). Can expect a fall to 70.41 by 30/08 - 04/09
A move above 72.30 invalidates the pattern.
Wave count in Nifty too supports short term weakness.
USD INR IN SHORT POSITIONLong & Short As Per My Analysis Chart or You Can Also set Own Risk reward. Let see what Will be Next Move on .Risk Warning- I m Not a Financial Advisor This idea Only For Educational Purpose Only. Thank You !!
Dragon Club .
USDINR Short BiasWelcome to everyone!
Today we are stick with usdinr. Price action shows a small retracement then a good drop could possible.
We never use indicators, news etc in supply and demand we just follow odds and price actions and rules of our strategy.
Happy Trading
Possible Elliot Wave Count - USDINRAs per my analysis there is a possibility that a major 5 wave rally is over in USDINR. The level to watch out for is 68.00/67.50 and if rupee successfully breaches those levels then we could see some sustained rupee appreciation over the next few months. Even a pullback to 40 will be just 50% of the entire rally !!!!
Please consult your financial advisers before taking any decisions.
Good Luck Traders !!!
USDINR Monthly Perspective . GooD FoR I.Rupee against us dollarUSDINR Monthly Perspective . GooD FoR Indian Rupee against us dollar
Long USDINR WeeklyTriangle break is impulsive with corrective retrace to 5yr support level
Min target 80 to upper channel on low risk entry with stops below pivot low at 69
