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U.S. Dollar / Indian Rupee

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USDINR trade ideas

USDINR Still bearish but we move our target a little higher.This is an update to our November 27 2023 idea on the USDINR pair where we issued a sell signal exactly at the top (Higher Highs trend-line) of the 1 year Rising Wedge pattern: Our 82.600 Target hasn't yet been hit but due to the slower than expected decline, we have to modify our target and move it a little higher to 82.700, which marks a projected contact with the 1W MA50 (blue trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USDINR-Weekly Outlook-Venkat's BlogThe currency pair continues to keep the market guessing as it moves swiftly from 83.10 to 83.35 and reverses back. Every time the pair comes closer to 83 there is good amount of buying interest. As observed in the previous blog, the market is refusing to believe this move as it has wedded to the logic that the currency pair will not be allowed to trade below 83.00 levels no matter what happens to DXY, Yields or Stock market. A few observations The rates remaining in a small range is not anything new for the currency pair as we could see from the quarterly charts, it has been in small ranges for almost 3-4 quarters in the past once in every three years. However, this general behavior altered after 2008 Ultra-low Vols may be a huge risk and there could be sharp move happening when no one expects Lower crude prices keep the demand for USD. After having seen the big move of 74 in Jan 22 to 83 in Oct 22, The Importers seem to Hedge themselves fully and the exporters may be waiting and might be repenting for having missed higher levels Expect the range of 82.90-83.25 would continue to hold for the week and 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: Continue to keep the following input for quick reference though it is repeated for the past 8 months. • The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Alternatively, the Fib projection of the move from Jan 22(Low) to Oct 22(High) and Nov 22 low also suggest the projection as 82.92. Hence, the importance. If breached, we may see another spike towards 85.70 • As noted in our 3rd July Blog: o A deeper correction is long overdue. Market is expecting 82.70-83.35 will be protected. If appears that the same kind of yo-yo moves may continue till one more quarter if we do not see a close below 82.70. o The result is that it has extended to third quarter as well • A fresh start with New year and New quarter, the question still remains 81.50 or 85.50? • There are fair chances of the breaking lower towards 82.50, at least for a short period Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
Decoding USDINR with Elliott Waves: A Comprehensive AnalysisDecoding USDINR with Elliott Waves: A Comprehensive Analysis Weekly Perspective: Daily Perspective: 4 Hourly Perspective: Hourly Perspective: Current Stage: Inside iv of (c) of 2 of ((1)) of wave V of wave (III). Current Bias: Presently showing a bearish inclination on the hourly chart. Future Outlook: Post the completion of wave (c) of 2 , a potential swing towards the north is anticipated. Invalidation Level: Post starting journey towards north Strictly set at the recent swing low of (c) of 2, serving as a critical point for the bearish bias. If breached, it might prompt a re-evaluation of wave counts on the hourly time frame. Elliott Wave Concept: Elliott Wave Theory proposes that market prices unfold in specific patterns, providing insights into potential future price movements. It identifies waves of various degrees, each with its own subdivisions, illustrating the cyclical nature of market psychology. Corrections, labeled as 2 or (b), are temporary pauses in the prevailing trend before the larger trend resumes. Validation of Elliott Wave counts often comes from adhering to strict rules and guidelines, including confirmation of trend reversals and respecting key invalidation levels. Conclusion: The USDINR pair, as per Elliott Wave analysis, is currently navigating a complex pattern with bearish signals on the hourly chart. However, the prospect of an upcoming swing towards the north is plausible post the completion of wave 2. Traders are advised to closely monitor the invalidation level as it holds the key to potential shifts in the Elliott Wave counts. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
by RK_Chaarts
14
USDINR Neutral but needs a medium-term pull-back.The USDINR pair has been practically ranged around the 1D MA50 (blue trend-line) since September but on a long-term perspective, close to the top (Higher Highs trend-line) of the Rising Wedge. This calls for a technical medium-term pull-back, especially with the Bearish Divergence on the 1D RSI, which is trading within a Channel Down. Our target is the 1D MA200 (orange trend-line) at the bottom of the Wedge at 82.600. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USDINR: Watch closely for an insane 2024 rally.USDINR is trading inside an Ascending Triangle on the 1W timeframe, with the 1W technical outlook constantly bullish (RSI = 59.515, MACD = 0.267, ADX = 38.795). This is despite 8 failed attempts in the last 9 weeks to close a 1W candle over the top of the Ascending Triangle, which on any other occasion would be considered a sign of weakness. With the 1W MACD on a Bullish Cross though and the whole pattern supported by the 1W MA50 in July, we expect a bullish breakout to take place soon. The chart on the right which is on the 1M timeframe shows the incredible upside potential of the pair every time it breaks out. If we get the candle close we want, look for a buy and at least a +12.60% rise (TP = 92.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
4
COULD INDIA BE THE SAVIOR OF THE USD’S DOMINANCE?COULD INDIA BE THE SAVIOR OF THE USD’S DOMINANCE? The BRICS alliance aims to dethrone the US dollar’s global supremacy. India’s rapidly growing economy has led to speculations about its potential role in this shift. Despite being a BRICS member, India maintains strong economic ties with the U.S. In the dynamic landscape of global finance, where the BRICS alliance is sharpening its talons, aiming at the soft underbelly of the US dollar’s supremacy, India emerges as a beacon of hope for the greenback. While the BRICS coalition might assume they have the unwavering support of all its members in their quest to topple the dollar, India’s economic trajectory and diplomatic allegiances paint a different picture.
Long
by henryartem
USDINR Stuck in a Triangle. Trade the break-out.The USDINR pair is trading inside a 1.5 month Triangle (blue), following the upward break-out of the 1 year Ascending Triangle. The 1D MA50 (blue trend-line) has been supporting for 2 months and as long as it holds, buy when the price breaks above Resistance 1 (83.4200). The target can be 84.500, representing a +2.13% leg extension on a potential emerging Channel Up. If the 1D MA50 breaks, we will sell instead and target the 1D MA200 (orange trend-line) at 82.4500, which is marginally above Support 2. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot