USDINR trade ideas
Will INR recover?No signs of recovery in INR as it has broken past its long time resistance. A break below 69.00 is must where a the USD/INR pair could lead to a potential short setup.
(Very) Long term analysis for INRAs of today, my very long term analysis for INR is as shown in the chart.
I will update the chart if I see any major change in the structure
USD/INR - Charts show a scary picture going forwardUSD/INR
Monthly Chart
CMP 70.32
A nice VCP pattern breakout observed.
Previous VCP pattern breakout propelled USD by 40%;
If history repeats, USD/INR likely to touch levels close to 98-100 in a similar time frame (around 2 years).
THIS IS NOT A TRADING CALL AS POSITIONS CANNOT BE TAKEN FOR SUCH A LONG PERIOD OF TIME.
VIEW NEGATED AT 60.
INDIA WANTS TAKE PROFIT FROM TRADE WAR.Smart money take position from INR. This triangle seems bullish.
USDINR completing four year long Cup with HandleVery interesting price action, succesful completion of this pattern will break the Indian rupee to all time low as far as it could depreciate to near 80 level
USDINR Good Opportunity to shortUSDUNR has been week due to global cues. All cross currencies are gaining opposite to USD which will help to strengthen the rupee in upcoming week. This week i will be bearish on USDINR for the TGT 66.5237 and 66.1413
Learning Wyckoff Method-2.9 DISTRIBUTIONthe downside target has been calculated from the point figure chart provided in this link ....
invst.ly
Disclaimer..Not an investing/trading recommendation
Wait for the breakout#USD is testing markets with formation of wage.
Wait for the breakout! Looking at the global economic stability and oil market, I expect to go long.
USDINRLike the NIFTY 50 index, we are bullish on this pair, USDINR.
1. LL, HH formation
2. price actions above 21EMA
3. breakout of channel line, allowing buyers to buy on dips, nice.
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 : 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
LONG RUNWe will get a pull back from support zone and after that we will take a flight to the Take Profit zone. Trade Carefully :)
