Decoding 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...
USDINR has been trading in the 83-80 area since October 2022. The USDINR has been consolidating for nine months and is on the verge of breaking over the 83 barrier. If it breaks over 83 per USD, the pair might go to 86 within 6 months. When the rupee reaches 86 per USD, the Indian central bank may interfere. The ultimate target for Primary Degree Wave 3 may be 90...
The Rectangular Pattern in Wave IV suggests that the USDINR may rocket higher towards 86 before the end of the year. Because of the barrier rectangle pattern, the pattern is quite bullish.
Reserve Bank of India has conveyed to the market that they are close to the end of rate hiking cycle. India has not increased rates as much as FED or most of other DM central banks Indian rupee is close to end of consolidation above the long term wedge. Is it going to lose more value and reach towards 88? #Nifty #Banknifty #USDINR #Rupee
Considering a uptrend in 15 min on intraday basis. Forming a upmove until the resistance.
USDINR is rising on rising sharply due rising crude oil prices this week, as European nations has said No to Russian Oil. USDINR is looking strong and can head to levels of 77.8 where it can face huge resistance. If USDINR manages to trade above 77.8 levels on daily and weekly timeframes, then it is heading towards 78.5 levels. If BEARS managed to hold USDINR...
USDINR has been trading in an Upward Parallel Channel, since last year end till now. Recently it has hit the upper top of the channel at 77.88 levels. Its a SELL till 77.4 and if it breaks 77.4 level with good volume, it can further drift down to 77.17 levels. 76.94 to 77.1 7 is a Buy Zone, where can be a bounce back but till that time, its a Short.
USDINR has been bouncing off a long rising trendline since early 2021, and in fact has seen what you could reasonably call a clear uptrend on the larger timeframes since 2008. On the 12H chart and virtually all lower timeframes we're seeing oversold RSI reading, either with strong divergence (higher RSI, lower price) or flattening RSI with lower price, pointing...
USD INR breaking out from weekly time frame same time breaking triangle pattern also RSI is going above 50 NIFTY may react and slip down keep our long
DATE: 22 NOV 2021 INSTRUMENT: USDINR TREND: BUY TYPE: POSITIONAL. TIME FRAME: DAY CMP: 74.370 BUY ABOVE: 74.370 STOP LOSS: 73.933 TGT 01: 74.81 TGT 02: 75.03 TGT 03: 75.32 RISK DISCLOSURE: We are not S E B I registered analysts. VIEWS EXPRESSED HERE ARE FOR OUR RECORD PURPOSES ONLY. Please consult your personal financial advisor before investing. We are not...
The US dollar has gone back and forth during the trading session on Thursday as we hang around the ₹75 level. The ₹75 level in the past has been resistance, and it certainly looks as if it is the same situation now. I believe the market testing this major resistance barriers a sign of just how weak India is at the moment, as traders around the world continue to...
The US dollar has enjoyed a relatively large move to the upside against multiple currencies for the last couple of months. It has been no different againts the Indian rupee, as emerging markets in general have struggled. With concerns about increasing coronavirus figures, global growth slowing down, and simple inflation, the US dollar has been what most people...
The USD/INR is near the 74.3600 price level as of this writing and has seen a low of nearly 74.2800 in early trading. However, when today began, the USD/INR was near the 74.5500 ratio as the pair tested highs last seen on the 12th of November. The Forex pair has seemingly created a rather restrained consolidated price realm the past handful of trading days; yes,...
The USD/INR is trading near the 74.9000 juncture in early trading today, after actually trading above the 75.0000 juncture briefly yesterday. Volatility in the USD/INR has increased as resistance levels have proven vulnerable and reversal off highs occur in swift choppy motions. After breaking through the 74.7000 level yesterday, the USD/INR saw an impetus of...
L O N G T E R M S I P T R A D E DATE: 20 MAY 2021 INSTRUMENT: USDINR TREND: SELL TIME FRAME: DAY CMP: 73.160 SELL BELOW: 73.118 STOP LOSS: 73.30 TGT 01: 73 TGT 02: 72.84 TGT 03: 72.70 TGT 04: 72.323 TGT 05: 72.70 DISCLAIMER: We are not S E B I registered analysts. Please consult your personal financial advisor before investing. We are not responsible...
The current structure of USDINR is still weak and is probably moving towards 72.65 levels. The current chart shows two technical possibilities that suggest goos support zone in the 72-73 range. At First, there is trendline support, that the prices broke in April 2021, and the same trendline would now act as a support. Secondly, there is also a harmonic pattern...
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