Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

USDINR Short Term Overview – Apr 2020

33 sec read

USDINR retreated from its All time high on last friday after RBI has decided to reduce the fixed reverse repo rate under liquidity adjustment facility (LAF) by 25 basis points thus discouraging banks from keeping their surplus funds with it.

RBI also ensured liquidity for small non-banking financial companies (NBFCs)

Last friday USDINR Futures formed value area lower compared to thursdays trading sesssion. Mid-Day drop is bought back around the intermediate support zone 76.40-76.50 and remains as the key support zone for the upcoming trading session. And the Previous all time high is currently acting as a support zone.

USDINR Hourly Charts

However if price breaking the zone 76.40-76.50 can bring the short term downside target to 76 and 75.70 levels. Sometimes a break below downside is much needed for more upside targets.

But do I think the upside in USDINR is over?
Not yet. We are not out this ongoing currency crisis. If any break on the downside is limited.

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

[Limited Period] Free Mini Certification Course on Market Profile

Market Profile is one trading tool that professional traders would never like to miss in their trading arsenal. This Mini Course on Market Profile...
Rajandran R
1 min read

Beginner’s Guide to Market Profile

Kickstarting your market profile learning? then you cannot miss this webinar where you get to know the basic building blocks of Market Profile and...
Rajandran R
23 sec read

Converge Meet 2020 – Preview Webinar Series

I am very much excited to announce the 5th Edition of Converge 2020. This time converge 2020 comes with 5 Days of Virtual Market...
Rajandran R
1 min read

Leave a Reply

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