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INDIAN RUPEE / U.S. DOLLAR

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INRUSD trade ideas

USDINR- Broke the resistance zoneUSDINR has broken the falling trendline and also broke past an important horizontal resistance region of 78.15 - 78.20. This was broken with a huge candle. With this move, it has not only broken the horizontal and trendline supports, but also the tend of LL-LH. This is a clear bullish signal. However, we can't go away with the fact that the central bank may step in to control these levels. Let's see how the follow-through candles develop today and tomorrow on Daily timeframe. It shall retain the 78.15 - 78.20 region for further up-move.
by rjoshicool
USDINR looks strong on Daily & Weekly timeframe, heading to 77.8USDINR 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 further upward movement or if RBI intervenes, then it can fall back to retest 77.4 levels. P.S. Most of this movement in USDINR this week would be dependent on how CRUDE OIL performs in global markets.
Long
by simplyansh
USDINR - 19Apr2022USDINR - 19Apr2022 On the daily, price is bouncing higher after a triangle breakout with upside target to around 78.200, Before that could take place it has to close above 78.6% Fib retracement at around 76.758. On the H4, price faced bearish pressure from the 1st Resistance at 76.4250 yesterday. H4 is still playing out its previous h&s pattern. If price actions close above right shoulder highs at around 76.60, we can invalidate the H4 h&s and expect upside to the daily triangle target. Disclaimer: This is for personal work record purposes only, not financial advise or solicitation of trade.
by TTMFS
USDINR - 06Apr2022USDINR - 06Apr2022 On the weekly, USDINR dropped back to 20EMA support. On the daily, price is also at Fib confluence support with a doji candle closed yesterday. We could expect a short-term bounce today. On the H4, USDINR continued its h&s downside target to 74.35. However, price is currently at daily and Fib confluence support. It could have a short-term bounce first before going lower. This is for personal record purposes only, not financial advise or solicitation of trade.
by TTMFS
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