USD-INR Chart

man4urheart

Well-known member
#1


Latest chart of USD-INR.

-It has risen to its 50% target.
- Price has taken support at its trendline marked with red color line.
- 20 day EMA = 41.2
- Also 50 Day EMA = 40.6 has crossover the 200 day EMA= 40.3, which implies this price rise is going to sustain at higher levels
 
Last edited:
#2
Thanks for the helpful chart.
This looks like one of the charts I've seen on forex trading windows.
Are there any forex trading firms that use INR as one of a pair? I thought it was illegal to trade INR yet.
 

man4urheart

Well-known member
#3
Time to revisit the chart

USD-INR Chart

Daily Chart



200 Days View



As shown earlier support is acting as resistance. Can we cross it? Time to watch!

There is also MACD divergence, a little correction! Trendline holds we will watch!
 
Last edited:

San Yad

Active member
#4
I think it's not good sign for SENSEX, Many of you would have read that financial markets are linked. in fact , the link between Sensex and the Indian Rupee (Dollar-rupee) is worth noting.

However, a strong dollar-rupee rate is not a good sign for the stock markets as there is a negative correlation between the two.

I personally think that a break above Rs 43 may be triggered by a further down move in the Indian stock markets.

Well, other major factor affecting the currency is the Crude Oil Prices which is still boiling (that is another instance of an inter-market linkage).

So, equity market investors ...keep an eye on the Dollar-Rupee and Crude Oil prices.

Cheers!
 

man4urheart

Well-known member
#5
Weekly Chart



- Rounded bottom in blue Arc, from where rally started!
- Also note 50 EMA red line in most bullish orientation, It will rise above 200 the Orange line!

Daily Chart



We did cross the resistance at 43 and now sit at next resistance 47! for target of 49 or above!

The earlier resistance 43 will act as support in case there is correction!

Can we cross the next resistance 47, we will see in coming days. MACD has made its new high and wildest swing.

Right now it is going stay near that price!

Also note, 50 EMA and 200 EMA is in one of the most bullish orientation!
 
Last edited:

man4urheart

Well-known member
#6
We did cross the resistance at 43 and now sit at next resistance 47! for target of 49 or above!
We achieved the target today! What's next I will look at charts in evening!

I was looking at TCS hedge positions, if my calculations are right they would be betting dollar at 38.2 for this quarter and it has gone till 49!

Taking average rate of 47 for this quarter, I expect MTM losses for hedge as 36,74,38,910 OR 36 Crores!

Last quarter it was 10 Crores approx!
 
Last edited:
#7
USD - INR chart

Hello!

As the sensex approaches 9k, will the dollar approach 50? I know I'm asking for a prediction, but if you're planning to sell USD, what would be a safe bet? Sell or wait n watch? :)

Cheers
 

man4urheart

Well-known member
#8
We achieved the target today! What's next I will look at charts in evening!

I was looking at TCS hedge positions, if my calculations are right they would be betting dollar at 38.2 for this quarter and it has gone till 49!

Taking average rate of 47 for this quarter, I expect MTM losses for hedge as 36,74,38,910 OR 36 Crores!

Last quarter it was 10 Crores approx!
My rough calculation was not good.....

They were hedging at 44 as per CEO statement!

But they did make significant lossses as dollar is at 50 now!:D

Did you notice we also crossed 49 $ resistance!
 

man4urheart

Well-known member
#9
USD Reaching it's climax!



- MACD and RSI Divergence!
- A topping pattern(Double Top) in formation!
- Might improve sentiment in Equity market!
- It should return to Dark Blue line during correction!

This also implies, that USD vs INR should also must have hit its peak or climax. So lets see the action from here!

Keep a watchful eye!
 
Last edited:

man4urheart

Well-known member
#12
Firstly following post from my friend Corey! has a very long term Dollar chart...It is Interesting to understand the big picture of Dollar!

I am giving a link for same to his page!

http://blog.afraidtotrade.com/long-term-structure-of-the-us-dollar-index/

The above post is very precious as none of us have such a long term data for Dollar. Knowing that dollar is still heading down inspite of short term up/down reactions can have a big impact on what you think about US markets and economy!

--------------------------------------------------------
Now coming back to chart I posted in above post no. 11

MACD as forecasted, made price correct to 200 EMA in below chart and support drawn didn't hold!



I also feel we might be making a H&S pattern(drew the neckline), but that is a guess and not confirmed. Let's wait for few weeks to clear up the structure!

Apologies: Last post was not clear enough and alchemist deleted same!
 
Last edited:

man4urheart

Well-known member
#15
Action on daily chart



We broke below the support and came up. But can we cross the resistance at 50 EMA. I think we would test and come back down! Lets see what market does than rather predict!

It would be good time to keep strict stop loss on your IT positions


Weekly action




We took support at Dec08 lows, all major EMA looking downwards. We should see new lows in coming weeks!
 

man4urheart

Well-known member
#16


A interesting find on weekly chart!

We are having a strong support area. Is it possible that we are in 2 wave of a bull run?

If that is case we should start the 3 rd wave up for new highs!
 

man4urheart

Well-known member
#18


This is the long term downtrend in Dollar and we should soon reverse it!

You can see dollar is in downtrend since last 30 years. from the year I was born to today, I think in next 30 years we should reverse it and my rest life should see it going up!

The rally in 2008 -2009 was actually a rally in bear market!

I think we are near bottom. Especially on weekly charts it is forming a H&S pattern, but right shoulder is still in making

 
Last edited:

man4urheart

Well-known member
#19


Falling from triangle!

But this is last leg in big picture and I am bullish on Dollar as per wave counts!

Target is 43.966 which is 61.8% of rise!
 
#20
Man4 ji,

Can you clarify on your view? USD is currently around 48. If you are bullish on dollar then its value should increase > 48.

How come the target is between 43-44?

Regards,
Sudhanshu
 
Top