USDINR TA; When/Where Will It Fall?Hey Traders,
The United States Dollar has risen significantly VS the Indian Rupee.
This brings us to the question, when will it fall?
Here's my TA view.
INRUSD trade ideas
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).
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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.
USDINR - A big move may comeA big movement can be seen in USDINR at any time. Perhaps this movement is indicating a decline. USDINR looks weak on technical charts.
USDINR ShortHello Traders,
Its good time to short the USDINR again and hold for mid term, Target given on Chart.
Thanks
USDINR Bullish ContinuationAs it confirmed our entry and is looking bullish. Because it formed Bullish Flag. Indeed it is a continuation pattern so yes I'm in. RR described in the chart and all other details are also mentioned in the chart. Drop a comment if you come across the chart. Thank you
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.
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Swing trade during the FOMC meetingThe swing in 4H time frame is still in the impulse wave of the daily swing.
The impulse of the 4H time frame swing has started(DB neckline breakout level 83.2500)
Caution :: FOMC meeting on 20 Sep'23 11:30PM IST and the current market price is at the weekly resistance of the ascending triangle pattern.
USDINR time to for LongHello All,
Its time to buy USDINR at this open market price 82.1100 FUTURE and hold , Again hopefully we can see 83+ on deck.
Target price 1 and 2 marked by Arrow.
USDINR_LONGA USDINR long setup. Using DOW theory and realizing that the chart is making higher highs and higher lows as well as in a major uptrend it seems like the secondary trend should continue. The trade setup is for two buy stops at 1% risk at TP1 and TP2.
What to expect in FOMC meeting on 19/20 Sep'23The market looks bullish in daily time frame.
The FOMC meeting on 19/20 Sep'23 is expected the pause the interest rate at 5.50%, which keeps the USDINR less volatile. If the interest rate is increased USDINR will be bullish.
There is 3 more trading sessions to decide the direction.
www.federalreserve.gov
www.forexfactory.com
www.nseindia.com
Buy at dipshello traders,
The market is at the verge of the ascending triangle breakout.
The market is bearish today, so adding small positions at every possible dips at the far out of the expiry will be fruitful once the breakout happens and rally starts.
Range bound in 4H time frameDaily time frame took a support at the weekly support(Ascending triangle pattern).
4H timeframe the market is in range bound. The range bound has broke out, aggressive traders can consider to enter the marker, conservative traders may wait for the re-test and consider the swing.
POSITIVE MOOD FROM MOON LANDING SAVED INDIAN RUPEE, FOR NOWWe love sentimental trade ideas. There is nothing better trade than those stemming purely from sentiments. We shared timely long USDINR pair and we have attached the link below.
The positive sentiments from Moon landing drove INR higher yet on macro level, this changes NOTHING .
Congratulations to India and all Indians!
-Signalwyse Team
What's the next move ?The CMP(current market price) is at weekly resistance zone.
Below scenarios can happen:
1. Bear :: If a daily candle closes below 82.5920, advisable not to enter the market as the triangle is about to converge leading to triangle breakout & also the Risk: Reward ratio would be small.
2. Bull :: If a weekly closes above 83.2850, this is a ascending triangle breakout. The target for the weekly breakout will be 86.7317. This target will take time to reach.
Best advisable to add 1 or 2 lots in far out of the expiry(like 3 or 6 months far expiry after the breakout)
USDINR to drop to 75 levelsThis looks like a failed pennant breakout for USD. Very likely to see sharp reversals, next support is at Rs. 75 levels.
Bull swingDaily is in Bull trend, but at 4H time frame the market is in range bound.
If a 4H candle closes above 83.1575, then bull will be in control.
The risk : reward ratio is 1:2.68 to 1:3.58.
USDINR Indian Rupee Long TradeSome traders will buy straight up the pullback
back into the demand/support/break-out retest
area while others will wait for a potential Stop hunt
liquidity search of those traders and buy after that
happens. I always like the idea of waiting for confirmation
on smaller timeframes (1hr/4hr)....
What are you looking for?
USD breaks out against the Indian RupeeTypically the upside breakout of an ascending triangle will travel 1X to 2X in distance equal to the height of the triangle at its widest point. This would imply an advance toward 86 and possibly toward 88. $USD/INR. The best way to play this is with Singapore futures IMO
Double top neckline breakout In weekly the market is in Ascending triangle pattern. where the current market price is at weekly resistance.
In daily time frame there is change in trend(from bull to bear) formed by double top neckline breakout, so the market is expected to fall further till the weekly ascending trend line(support).
After the DT neckline breakout now the market is in retest, a good level to sell where minimum risk : reward ratio is 1:2.5
$USDINR Breakout Daily ChartFX_IDC:USDINR Breakout Daily Chart watch closely for a test of the horizontal line. The USD/INR exchange rate is important to the U.S. stock market because it affects the cost of investing in Indian stocks for U.S. investors. When the USD/INR exchange rate is high, it means that it costs more U.S. dollars to buy a given amount of Indian rupees. This makes Indian stocks more expensive for U.S. investors, which can lead to a decline in demand for these stocks. Conversely, when the USD/INR exchange rate is low, it means that it costs less U.S. dollars to buy a given amount of Indian rupees. This makes Indian stocks cheaper for U.S. investors, which can lead to an increase in demand for these stocks.
In addition to the cost of investing, the USD/INR exchange rate can also affect the profitability of U.S. companies that do business in India. When the USD/INR exchange rate is high, it means that U.S. companies that export goods and services to India earn more rupees per dollar. This can boost their profits. Conversely, when the USD/INR exchange rate is low, it means that U.S. companies that export goods and services to India earn fewer rupees per dollar. This can hurt their profits.
Overall, the USD/INR exchange rate is an important factor that can affect the U.S. stock market in a number of ways. It is important for U.S. investors to monitor this exchange rate and factor it into their investment decisions.
Here are some specific examples of how the USD/INR exchange rate can affect the U.S. stock market:
If the USD/INR exchange rate rises sharply, it could lead to a decline in demand for Indian stocks by U.S. investors. This could cause the prices of Indian stocks to fall.
If the USD/INR exchange rate falls sharply, it could lead to an increase in demand for Indian stocks by U.S. investors. This could cause the prices of Indian stocks to rise.
If the USD/INR exchange rate remains high for an extended period of time, it could hurt the profitability of U.S. companies that do business in India. This could lead to lower stock prices for these companies.
If the USD/INR exchange rate remains low for an extended period of time, it could boost the profitability of U.S. companies that do business in India. This could lead to higher stock prices for these companies.
USDINR breaks higher after Indian inflation jumpIndian appeared to have been having success in driving down inflation of late, with CPI falling back from over 7% to 4.8% in the past year. However, the 7.4% retail inflation rate announced today provides a dramatic shift to the landscape, marking the highest rate in 15-years. That has been largely attributed to food prices, which is so heavily weighted that it accounts for nearly half of the overall CPI figure. With that in mind, the whopping 11.51% food inflation rate seen in June managed to drive a similar surge in the headline figure.
For markets, this has seen the rupee weaken, with USDINR rising up towards resistance at 83.28. Coming off the back of a prolonged period of consolidation, it looks likely that we are set for a potential upside breakout. With that in mind, a move through 83.28 resistance would signal a possible impending surge for the pair. To the downside a move below 83.60 would be required to negate that bullish view.
