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U.S. Dollar / Indian Rupee

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USDINR trade ideas

USDINR-Weekly Outlook-Venkat's BlogPast week saw a gradual decline from its peak of 82.85. Now that the market would be happy to see 82.20 as safer level to hedge the Imports. Only a close below 81.70 favors further lower levels. At least for the moment, it appears that the pair seems to be in no mood to breach 81.70 on a closing basis. In such scenario we may expect a consolidation between 82.10 and 83.10. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. Market is expecting 82.10-83.10 will be protected. Deeper correction is long overdue The pair has a tendency to make surprise moves when most in the market do not expect. A few more observations: • Neither the moves in Dollar Index-DXY nor the equity have direct correlation • The raising upward channel indicate the broader range of 77.10-83.30 • The currency pair seems to be trying to make one more attempt towards 83 • As noted in the previous blog, continue to keep the following input for quick reference. o The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. o This range is continuing to be protected o Unlike in the past, the Imports (mainly the oil) are being hedged as and when there are lower prices in Oil and/or lower prices in the currency pair Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
USDINR-Weekly Outlook-Venkat's BlogPast week saw a sharp spike towards 82.80. As noted in the previous blog the previous weekly candle shows signs of reversal and it proved to be right by the spike. Now that the market would be happy to see 82.20 as safer level to hedge the Imports. Only a close below 81.70 favors further lower levels. At least for the moment, it appears that the pair seems to be in no mood to breach 81.70 on a closing basis. In such scenario we may expect a consolidation between 82.10 and 83.10. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. Market is expecting 82.10-83.10 will be protected. The pair has a tendency to make surprise moves when most in the market do not expect. A few more observations: The raising upward channel indicate the broader range of 77.10-83.30 Neither the moves in Dollar Index-DXY nor the equity have direct correlation The currency pair seems to be trying to make one more attempt towards 83 As noted in the previous blog, continue to keep the following input for quick reference. The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. This range is continuing to be protected Deeper correction is long overdue Unlike in the past, the Imports (mainly the oil) are being hedged as and when there are lower prices in Oil and/or lower prices in the currency pair Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
USDINR-Weekly Outlook-Venkat's BlogPast week saw a narrow range of 81.70-82.23. as an exception the last weekly candle shows signs of reversal. Only a close below 81.70 favors further lower levels. At least for the moment, it appears that the Pair seems to be in no mood to breach 81.70 on a closing basis. In such scenario we may expect a consolidation between 81.80 and 82.40. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. Market is expecting 81.80-82.40 will be protected. The pair has a tendency to make surprise moves when most in the market do not expect. A few more observations: • The raising upward channel indicate the broader range of 77.10-83.30 • Neither the moves in Dollar Index-DXY nor the equity have direct correlation • The currency corrected after making multiple attempts to break 83 • As noted in the previous blog, continue to keep the following input for quick reference. o The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. o This range is continuing to be protected o Deeper correction is long overdue. o The target for this move is 80.10 provided 81.70 is taken out on a closing basis o Unlike in the past, the Imports (mainly the oil) are being hedged as and when there are lower prices in Oil and/or lower prices in the currency pair Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
USDINR Triangle pattern on the 1D MA200. Trade the break-out.The USDINR pair is trading within a Triangle pattern with the 1D MA200 (orange trend-line) supporting on its bottom (Higher Lows trend-line). You can scalp inside the pattern for as long as it lasts (RSI also in a Triangle), but when a 1D candle closes outside the Triangle, trade the break-out's direction. Buy and target the 83.2900 Resistance in case of a bullish break-out, and the 80.500 Support in case of a bearish break-out. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
2
USDINR-Weekly Outlook-Venkat's Blog Past week saw a narrow range of 81.66-81.94. Gradually the weekly candles are making lower highs. A close below 81.70 favors further lower levels. At least for the moment, it appears that the Pair seems to be in no mood to breach 81.60 on a closing basis. In such scenario we may expect a consolidation between 81.60 and 82.10. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. Market is expecting 81.60-81.70 will be protected. The pair has a tendency to make surprise moves when most in the market do not expect. A few more observations: The raising upward channel indicate the broader range of 77.10-83.30 Neither the moves in Dollar Index-DXY nor the equity have direct correlation The currency corrected after making multiple attempts to break 83 As noted in the previous blog, continue to keep the following input for quick reference. The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. This range is continuing to be protected Deeper correction is long overdue. The target for this move is 80.10 provided 81.60 is taken out on a closing basis Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
4
USDINR-Weekly Outlook-Venkat's BlogPast week saw a narrow range of 81.60-82.09. The Monthly bearish candle could be one with the narrow range viz. 81.57-82.45. A close below 81.70 favors further lower levels. At least for the moment, it appears that the Pair seems to be in no mood to breach 81.60 on a closing basis. In such scenario we may expect a consolidation between 81.60 and 82.25. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. This week is crucial for the pair to break or bounce The pair has a tendency to make surprise moves when most in the market do not expect. A few more observations: • Moves in Dollar Index-DXY does not have direct correlation • The currency corrected after making multiple attempts to break 83 • The raising upward channel indicate the broader range of 77.10-83.30 • As noted in the previous blog, continue to keep the following input for quick reference. o The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. o This range is continuing to be protected o The target for this move is 80.60 provided 81.60 is taken out on a closing basis
by SYFXTF
USDINR-Weekly Outlook-Venkat's BlogPast week saw a narrow range of 81.79-82.31. The Monthly candle shows a bearish candle. A close below 81.60 favors further lower levels. It was indeed a short lived gain past 82 after almost 2 months. At least for the moment, it appears that the Pair seems to be in no mood to breach 81.60 on a closing basis. In such scenario we may expect a consolidation between 81.70 and 82.60. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. A few more observations: The currency corrected after making multiple attempts to break 83 Moves in Dollar Index-DXY does not have exact correlation The raising upward channel indicate the broader range of 77.10-83.30 As noted in the previous blog, continue to keep the following input for quick reference. The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. This range is continuing to be protected This week is crucial for the pair to break or bounce The pair has a tendency to make surprise moves when most in the market do not expect. The target for this move is 80.60 provided 81.60 is taken out on a closing basis Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
USDINR-Weekly Outlook-Venkat's BlogPast week saw a narrow range of 81.57-82.14. The Monthly candle shows a bearish candle. A close below 81.60 favors further lower levels. After almost 2 months the currency broke the support at 82.05. There is not much change in the earlier observations of the likely scenario which would be a consolidation between 81.60 and 82.15. Break below 81.60 could lead to a sharp move towards the target of 81.10 and finally 80.60. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. A few more observations: • The currency corrected after making multiple attempts to break 83 • Moves in Dollar Index-DXY does not have exact correlation • The raising upward channel indicate the broader range of 77.10-83.30 • As noted in the previous blog, continue to keep the following input for quick reference. o The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. o This range is continuing to be protected o This week is crucial for the pair to break or bounce o The target for this move is 80.60 provided 81.60 is taken out on a closing basis Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
USDINR -Weekly Outlook-Venkat's BlogPast week saw a narrow range of 81.80-82.45. The Monthly candle still shows a bearish candle. We need to see a daily close below 81.60 for further lower levels. After almost 2 months the currency broke the support at 82.05. There is not much change in the earlier observations of the likely scenario which would be a consolidation between 81.60 and 82.45. Break below 81.60 could lead to a sharp move towards the target of 80.60. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. A few more observations: The currency corrected after making multiple attempts to break 83 Moves in Dollar Index-DXY does not have exact correlation The raising upward channel indicate the broader range of 77.10-83.30 As noted in the previous blog, continue to keep the following input for quick reference. The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. This range is continuing to be protected The increased volatility and wild swings likely to continue The target for this move is 80.60 provided 81.60 is taken out on a closing basis Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
USDINR-Weekly Outlook-Venkat's BlogPast week saw a narrow range of 82.04-82.48. The Monthly candle still shows a bearish candle. We need to see a daily close below 81.70 for further lower levels. The currency shows extraordinary resilience and refusing to move below 82. There is not much change in the earlier observations of the likely scenario which would be a consolidation between 81.70 and 83.10. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. A few more observations: • The currency corrected after making multiple attempts to break 83 • Dollar Index-DXY is likely to continue the familiar range of 101-105. • The raising upward channel indicate the broader range of 77.10-83.30 • As noted in the previous blog, continue to keep the following input for quick reference. o The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. o This range is continuing to be protected o The increased volatility and wild swings likely to continue Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
USDINR-Weekly Outlook-Venkat's BlogPast week saw an unexpected selling towards 82.05 which gave opportunity for the importers to hedge partly and the pair later closed at 82.31. The Monthly candle still shows a bearish candle. We need to see a daily close below 81.70 for further lower levels. This month being the year end it appears less likely that we may see lower levels. Most likely scenario would be a consolidation between 81.70 and 83.10. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. A few more observations: The currency corrected after making multiple attempts to break 83 Dollar Index-DXY is likely to continue the familiar range of 101-105. The raising upward channel indicate the broader range of 77.10-83.30 As noted in the previous blog, continue to keep the following input for quick reference. The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. o Will this range be protected for one more time? We may get further clues by the end of this week o The increased volatility and wild swings likely to continue Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF
USDINR-Weekly Outlook-Venkat's BlogPast week saw a heavy buying interest as the support at 81.70 was holding for the second week. The Monthly candle still shows a bearish candle. We need to see a daily close below 81.70 for further lower levels. This month being the year end it appears less likely that we may see lower levels. Most likely scenario would be a consolidation between 81.70 and 83.10. There could be choppy moves within this range. A close outside this range requires re-assessment of risk/direction and target. A few more observations: The currency corrected after making multiple attempts to break 83 Dollar Index-DXY is likely to continue the familiar range of 101-105. The raising upward channel indicate the broader range of 77.10-83.30 As noted in the previous blog, continue to keep the following input for quick reference. The 82.75-83.25(with error adjustments) zone is the Fib projection of July 2011 to July 2013. Hence, the importance. If breached, we may see another spike towards 85.70. Will this range be protected for one more time? We may get further clues by the end of this week The increased volatility and wild swings likely to continue Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
by SYFXTF