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You are here: Home / Forex / USDINR Hourly Future Charts March Overview – I

USDINR Hourly Future Charts March Overview – I

March 10, 2014 by Rajandran 5 Comments

USDINR

 

The recent strengthening of the USDINR currency is due to the continuous buying of FII’s for the past 15 days into India Equity Market. Interestingly FII’s are the net buyers for the past 4 months and this march so far they had invested close to Rs 6,034.50 crore into the debt segment. And so USDINR Futures (MCX-SX) currently looks oversold on the hourly charts.

USDINR Futures had tested a low 61.2 and currently trading at 61.4 and looks little oversold. And currently the resistance zone comes around 61.58. Reverse your position to positional longs if the resistance breaks on the higher side.

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Filed Under: Forex Tagged With: Forex, USDINR

About Rajandran

Rajandran is a Full time trader and founder of Marketcalls & Co-Founder of Traderscafe, trades mostly using discretionary Trading Concepts like Market Profile, Trading sentimental analysis, building timing models, algorithmic trading models. Instructs professional traders, full time traders & aspiring full time traders. Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.

Comments

  1. OSK says

    March 10, 2014 at 12:36 am

    How do u arrive at your conclusion 62.29 is point that invalidates your above view?

    Reply
    • Rajandran R says

      March 10, 2014 at 6:52 am

      Its a simple mean reversion strategy and so the recent lows are kept as Initial Support and the Fibo retracement levels as targets.

      Reply
    • Rajandran R says

      March 10, 2014 at 11:49 am

      Oops it was a wrong chart and wrong analysis as it was Feb Futures. Changed the Chart and change in the strategy too.

      Reply
  2. dhiren says

    March 17, 2014 at 1:23 pm

    hi rajan
    i want to add usdinr pair to mt4 for studying its charting, can you please help me how to do the process.

    Reply
  3. quraishi a.latif says

    March 18, 2014 at 1:06 pm

    goods charts

    Reply

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