USDINR
USDINRValue of US dollar to rise...it could be corrective a-b-c or impulse wave 5 on downside, but in both the cases, bias would be up.
USDINR - Short tradeTP1: Start of the target box.
TP2: End of the target box or closed manually within.
USD/INR alternate countDon't get to biased. Trade what you SEE not what you THINK.
As John Maynard Keynes said, “The market can stay irrational longer than you can stay solvent.”
USDINR : Long term Elliott Wave ForecastAccording to my Elliott Wave count of USDINR, if I am correct ( being skeptical as EW count can be subjective, although all rules have been followed ) we are in minor wave A - of the Intermediate wave (3) - of the Primary wave 3 - of the Cycle wave V.
A Bulling engulfing formed on a Weekly chart suggests we have completed minor wave A , which is also a Fibonacci retracement up to 50% and the next target should be minor wave B for range Rs. 66 - Rs 66.24. (assuming it will be a Zig-Zag correction)
There after target for minor wave C target should be Rs 59 - 58.2944
I'll post more detail EW counts for the same.
Long on USD INR Expected rise in price after 7days period. The support near 64.550 region, making a pole pattern. Expected rise up to 65.22
for short term
Long term growth expected up to 66.45
USD/INR – Watch for a rebound from 64.1864.18, which is the 261.8% fib expansion level acted as a strong support earlier this month.
The daily RSI shows higher bottom formation. With that in mind, one should watch out for a rebound from 64.18 levels, although only a subsequent break above 64.80 (Apr 20 high) would signal the bear trend has bottomed out there and could yield test of supply around 65.21 levels.
USDINR (Monthly) Short -INR appreciates till 60Short at 64.70
Target 59.5
Stop 66.71
Risk to Reward: 1:2.5
USDINR - Bullish divergence, potential for recoveryThe pair has found support around 64.76 (227.20% Fib extension). Today's positive candle would confirm a bullish price RSI divergence and open doors for a technical correction to 65.20 and 65.61 in the short-run.
Also watch out for the breach of the descending trend line on the daily RSI. That would add credence to the bullish price-RSI divergence
USDINR could test 63.33 on dovish FedINR is on fire following ruling party BJP's victory in Uttar Pradesh elections. The monthly chart suggests a dovish Fed could yield a sell-off to the monthly 50-MA 63.33 levels.
That means a 200 pip drop.The move could happen in a day or two if the Fed keeps the rates unchanged.
USDINR longUSDINR 2 hour SPOT (and not Future) chart. If you look at longer term charts, the downmove in USDINR was corrective. It now looks like an ED type of pattern (Purple lines) with multiple divergences on MACD/Fisher. A test of 66.56 to 66.58 would complete the pattern.
SHORT USDINR, Free fall of @USDHappy to see INR covering some ground.
Will this free fall of @USD, will it test Yearly support line of 2016 of 66.5?
TECHNICALS | USDINR Uptrend-Line.Another interesting trend-line presents as the reality dawns upon markets that the dollar may be rolling over.
USDINR LongLast week USD showed weakness against other major currencies except INR (#USDOLLAR - Dollar Index).
Strange to see Indian currency not gaining against USD in-spite of good economy data.
Setup even indicates further depreciation in INR. Watch for breakout!
TCS Short for 2000...Trend Correction is Getting Over, IT has started to look weak, TCS is at Upper Trend Line and at Major Resistance, Volumes are lower op Trending Up, Target Can be of Around 2000, 1700 with short from around 2400.
BankNifty @ 8000 Fundamentals -
1.. High Deposit Rate, Low Credit Growth
2.. NPA Crisis
3.. Low Intrest Rate = Low NII
4.. Scams in Banks
5.. Property Rates Going Down
6.. Global Sell Off Imminent
Technicals -
1.. Second Mountain + Head & Shoulder in Weekly
2.. Magnet Crossing Below
Short Nifty for the targets of 7900, 7500 and moreTheir is a very good sell opportunity in nifty currently, this wave can take nifty all the way down to 7500 in near term. bank nifty will add most pressure, INR will get weaker which will act as a catalyst.
$USDINR has hit upper trendlineA perfect hit to the upper descending trendline. Not overbought though, still it wasn't on the last two touches.
