Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

USDINR Medium Term Technical Analysis Overview

29 sec read

Bullish Momentum in USDINR Kickstarted during the start of June 2018 and most likely to extend till the Sep 2018. USDINR also tested all-time high 70.89 on 14th Aug 2018. What is really missing compared to the majority of the EM Currencies is that Extreme bullish momentum seems to be missing thus far.

Here is the quarterly market profile view of USDINR where currently medium-term supports are developing around the zone 69.3 levels. This quarter USDINR spent most of its time balancing around 68.75 levels with possible value building higher. Momentum and value gearing up higher. Possibly, in this situation, one can think about an extreme bullishness in USDINR here reflecting inline with the majority of the EM currencies sentiment.

Short-term and Medium-term Bias remains bullish as long as the short term support at 69.3 holds possibly 72-73 levels are expected faster by Sep 2018.

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

ChatGPT4 Interpretation About USDINR Price Action Analysis

I'm impressed by the analytical and reasoning capabilities of ChatGPT4, which inspired me to evaluate its image-processing skills, specifically in interpreting basic candlestick charts....
Rajandran R
2 min read

Simplifying Money Transfers: The New IMPS Rule

In today's fast-paced world, the ease of online money transfers has become an indispensable part of our financial lives. Whether it's paying bills, sending...
Rajandran R
2 min read

Technical Analysis: USDINR Trading Range Breakout and RBI’s Monetary…

Since October 2022, the USDINR currency pair has exhibited a notable compression in its trading range, with a significant resistance level observed around 83....
Rajandran R
1 min read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More