Get started

U.S. Dollar / Indian Rupee

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Economic Calendar

USDINR trade ideas

USD/INR bounces above 7DMA but finds resistance at 21DMATechnical glimpse: The breakdown in USD/INR continues with a renewed trending bias. The break out above of the resistance 66.68 zone (Jan breakout/21DMA) highlights the importance of the upward targets. Otherwise, December lows with violations confirming a deeper corrective phase upto 65.96 levels. Upswings are healthy so far confirmed by both leading and lagging oscillators, (see daily charts for RSI, stochastic's positive convergence with price spikes and MACD's attempts of bullish crossover). The pair has edged up higher upto 66.71 in early Asian session but failed to sustain at higher levels, currently hovering exactly at resistance 66.68. These daily upswings raises caution for aggressive bears in monthly terms, thus it would be wiser to wait for confirmation from EMAs if it shows bearish crossover. If RSI curve drags above, then it is a sign making higher highs even though month has just begun as it has tested supports at 66.9257 levels. You can probably observe the historic levels that resembles the same pattern and moved way above. Option Trade Tips: In FX option market for USDINR regulated by NSE, please be noted that the highest open interest is observed in OTM strikes calls (i.e. 67 levels) on NSE (National Stock Exchange). Hence, we advise for trading purpose, avoid options with lower volumes and lower open interest. USD/INR vol-adjusted carry has jumped back to pre-tapering levels. So, dubious bulls on hedging grounds, earn carry through 1M USD put spreads. Enter USD/INR put spreads that offer pre-taper tantrum levels of vol-adjusted carry.
by FxWirePro
1
Indian rupee on gaining streak - FX derivatives trade ideasThe breakdown in USD/INR continues with a renewed trending bias. The break of the 67/66.55 support zone (Jan breakout/July TL) highlights the importance of the 65.85 Dec low with violations confirming a deeper corrective phase. USD/INR: The pair has edged up higher at 66.86 in early Asian session but failed to sustain at higher levels and ended with a bearish candle with current levels of 66.575. Slide below 66.6 has indicated that pullback is over and prices are likely to resume their primary downtrend. Option Trade Tips: USD/INR vol-adjusted carry has jumped back to pre-tapering levels. Earn carry through 2M USD put spreads. enter USD/INR put spreads that offer pre-taper tantrum levels of vol-adjusted carry. EUR/INR: EUR edging lower to levels of 74.578 which is below 7 & 21DMA that indicating breach of downwards sloping support line and 21DMA. Daily RSI after testing resistance levels of 50 has slipped to 48 levels. Prices are likely to breach the support line and retest recent bottom of 73.72. So it is better go short in mid month futures. GBP/INR: This pair violated the short-term uptrend line and ended well below the same. Visible downside gap is showing the strength of the bears in the pair. Thus, it is most likely that prices will break the recent bottom of 94.087 and test the lower levels of 94. So we like to maintain the same strategy using futures contracts as we did it in EURINR case, it is better go short in mid month futures ahead of Brexit scenario (UK referendum scheduled in June).
Short
by FxWirePro
2
USDINR - WHAT NEXT (caution) After a very predictable pullback on extension zone we have 1) a massive divergence on 8h frame 2) a stop falling on the 0.618 fibs 3) just under the 0.5 fibs of the initial extension move some support zone in think. Maybe some pullback from here can happen watching closely Trade your plan - if you dont have any, avoid to trade - stay safe Thanks for clicking the like button. In case of another view, questions or comments ? share it with pleasure More ideas following. Click the follow button to keep updated when I publish new ideas or update already published ones. Thanks for your visit ! Update status (Warning. I am a private trader. I don't sell any signals, equipment or other sources of learning about forex. I am here to share ideas based on technical analysis to improve my ownForex practice. Trading forex is dangerous and can result in significant financial losses. So I am not responsible when the results of the positions to be taken on the basis of my charts since these constitute no basic signals but simply my own market analysis. As i always says, trade your plan and if you don't have any, avoid trading.)
by BLUE43
Option straddle to serve best for USD/INR risks ahead of budgetIt's a big day for INR today, after consistent loses against dollar, Monday morning has nothing positive to offer given the subdued global sentiment. Yes, all eyes will be on the Union Budget which Finance Minister Arun Jaitley would present around 11 am. The key focus would be on Corporate tax reduction, increasing service tax rate, some steps towards GST implementation, capital support for PSU banks and divestment of government stakes in PSUs along with some reforms are among the broad expectations. As a result, we've already seen FIIs sell in equities to the tune of Rs. 695 crores. While in Index Futures, they bought of worth Rs. 734 crores with marginal change in open interest, indicating blend to both long formation and short covering in last trading session. Technically, although USDINR showing some upside potential, it has been losing upswings momentum from last couple of trading days as the rejection of resistance at 68.7539 levels. Even though the bears began pushing downwards we saw sharp bounces every now and then, thereby we could see bull candles with big real body quite often. Leading oscillators are also moving in linear direction to signify indecision but slightly narrowed curve indicates reduced momentum in previous intraday selling pressures and so is the MACD. On a significant economic event today, we now keep an eye on potential breach above mentioned resistance at 68.7539 levels and INR gains on the contrary, options straddle is the best suitable in such range bounded circumstances in put with 50% delta. Long options straddle that fetched unlimited returns during higher implied volatility scenarios short term. So, go simultaneously long in at the money call and, and limited risk to the extent of initial premiums paid options. Well, this option trading strategy that are usually used during significant economic news, in this case when the options trader ponders that the USDINR will experience significant volatility ahead budget event, in the near term it would be highly volatile pair to trade with but expects the swings in either way.
by FxWirePro
1
Will USDINR breakout and depreciate INR further?China's central bank guided the yuan lower on Thursday FX_IDC:CNYUSD . China's first shock devaluation in August jolted the global financial markets and Indian currency "INR" was also affected by this sudden move. This second devaluation has come at such a crucial time, when money market was expecting strengthening in "INR" and start of appreciating trend. Can "INR" sustain the pressure or it will prevail further devaluation? Go long FX_IDC:USDINR Trade Trigger 67.2 Target 68.6 SLTP 66.7
Long
by GundyaBhau
India Could Be the Most Resilient of the BRICSThe BRICS (Brazil, Russia, India, China and South Africa) are highly watched emerging markets because they represented roughly 22 percent of global GDP in 2014. However, the global economic slowdown and increased geopolitical tension has weighed heavy on these markets. Although, India may be the most resilient economy out of the BRICS. India has felt its share of the slower economic climate, as the Markit manufacturing PMI fell to a seven-month low in September, falling to 51.2 from 52.3. According to Markit, there are signs of sustainable growth but input costs decreased for two months consecutively, which has not happen since the financial crisis. Both manufacturing and industrial output have remained stable. Services PMI has seen improvement since late 2014. In relation, the Chinese manufacturing PMI clocked in at 47.2 and has been contracting since March while near the worst levels since March 2009. Due to the slack in the economy and less than expected inflation, the Reserve Bank of India cut the benchmark rate by 50 bps to 6.75 percent. This strengthened the rupee has investors look for it to hinder capital outflow. It also comes as the People's Bank of China (PBoC) devalues the yuan. USDINR is likely to fall further as I expect the dollar to remain weak following the onslaught of poor economic data. Friday's non-farm payroll print of 146,000 was well below the 201,000 general consensus. To add insult to injury, August's jobs number was revised lower by 50,000 which left mouthpiece economists in bewilderment. The Fed's inability to act, in regards to an interest rate boost, will leave the dollar on shaky ground. Fed fund futures traders are not pricing in a potential for Fed action until June/July of 2016 - although, I am forecasting a recession by then. The USDINR is trending within a descending channel with support at 65.28, but the pair will travel to the 50 percent Fib. retracement at 65.15 (with the 72-daily EMA as further support). Secondary target is 64.83. Resistance can be found at 65.6060, 65.8337 and 66.1374 Please follow me on Twitter @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com
by CommoditiesTrader
USDINR(Daily). Inverse Head and Shoulders Potential.Not a famous pair, but a potential opportunity, nevertheless. 1.5 Year Consolidation, Inverse Head and Shoulders Pattern, at 50% retracement, Neck_line resistance. Price broke out from Down_Trend Line, and may be completing a potential AB=CD, short term Overbought. Long(IF), Potential brake_out, holding above 64.0800 and retesting of the Neck_line(becoming Support) could offer a Long entry opportunity. MACD turning up, above zero, indicating momentum increase, and ATR turning up at resistance. Support Level at 50, 200 sma, and Uptrend_line, following through.
Long
by rv
7