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USDINR

USDINR Bearish View & Road Ahead!!USDINR would fall from current levels and probably make new loves below 66 levels.. Overall Rupee made a 5 wave down move from the top of 69 levels after which gave a 3 wave a-b-c correction with in the trend channel and is now ready for further down move. Happy Trading!! Siraj Hudda, CFTe Web: www.prowaveanalysis.com Skype: sirajhudda Email: contactus@prowaveanalysis.com Facebook: www.facebook.com Twitter: twitter.com LinkedIn: in.linkedin.com
Short
by SirajHudda
NIFTY - Snooze Continues - 6/21/2016Throw any international or domestic good or bad news at NIFTY and it just doesn't want to budge. This month is already shaping up as one of the lowest range month in recent history and kind of trader's nightmare. You can trade it if it goes up or down but how could you trade if it just doesn't move at all ! Well, one may argue that by selling options premium but you have to be mindful that the events occurred this month were huge - Fed meeting, RBI rate meeting, RBI Governor Raghuram Rajan exit news, 100 % FDI in major sectors are just to name a few. And if you ask any trader to earn option premium against such events, she will probably call you nuts ! We advised traders not to get sucked into the initial volatility during the news of Rajan's exit because market may cheer it as good news came out right. But unfortunately we didn't get a bounce big enough to sell at good levels. If government is thinking that by just cutting rates it will produce a panacea then they are kidding themselves. Market hasn't cheered 100 % FDI in a way it used to earlier is the sign of what's coming. No international investor knowingly invest in a country where he is certain about 20 / 30 % currency devaluation in near future, not to mention lawlessness and poor infrastructure. It is a blessing that Fed hasn't hiked yet and may not hike soon. Otherwise internal problems with external forces to throw the currency out would have made the spike in USD/INR even worst. Let's wait a watch, when and how this consolidation breaks and then we will take our next step.
NSE:NIFTY
by BombayBulls
Is USD/INR Going To Breach 70 Now?This is what we have to say about Mr. Raghuram Rajan's decision to leave Reserve Bank Of India ( RBI ) after the end of his current term in September. This is what happens when you state the obvious to politicians. He is the only central bank chief with chutzpah to tell governing politicians that central bank can't cure it all with just cutting rates ! At some point they need to pick up the baton to reform and enact policies to progress. So he didn't has much choice. Either keep on cutting rates or do whatever pleases to the boss or show them the finger and leave. Besides his rising international acceptance and appeal wasn't going smoothly with someone who likes to grab all the attention whenever India is mentioned in international media. Guess who? ;) We are not sure how markets will open on Monday because conventional wisdom says it will go down, but we have our doubts. Because in short term market may think that now he is going to be replaced with someone who will definitely start cutting rates and let the banks roam freely and that may cause markets to rally. And of course USDINR is going to breach 70 mark in no time ! We have been bearish rupee for long time and there are obvious reasons for that. Here is what we said last year about rupee. bombaybulls.com In a nutshell, nothing happens with empty promises of reform and someone who knows the country well, should be aware of the fact that it is not going to change in our lifetime at least !
Long
by BombayBulls
1
USD/INR - Possible Cypher, Keep an eye on 38.2% & 61.8% Fib CDPossible cypher formation on USD/INR pair. CD leg in the making, but needs to climb and see a daily close above the trendline resistance and previous support (broken previously) around 66.7812 The initial targets for an expected bullish move remain at the 38.2% and then the 61.8% fib level for the CD leg. The current daily candle is signalling indecision. Fundamentally, the press speculation on the Indian Governor Raghuram Rajan, and the GST (single tax) debate are the key points to take into consideration. Globally, 'brexit' and a falling dollar are the key risks for the Indian currency. The bullish argument fails if we see a break and close below the uptrend line around 66.45-47 zone.
by TurnedTable
USDINR: Promising downtrendUSDINR is right against the downtrend mode offering a very low risk opportunity to go short if we get a new daily low. The first entry, has a tighter stop, so risk half on this one, and half on the larger 3 atr stop entry. There are two possible targets, one at 65.44 and the other longer term target at 64.2882. If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year. Cheers, Ivan Labrie.
Short
by IvanLabrie
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