Today Lets discuss about the trading strategy for USDINR. How to do analysis from USD INR live chart?
As you know in the previous sessions we have promoted trading using Price Pattern trading strategy. So to continue with that series here we are going to show what could be the trading strategy using live USDINR chart?
Talking Points from www.dailyfx.com
– Dollar Index (ticker: USDOLLAR) finishes near multi-month highs on Yen and Aussie Dollar tumbles
– Volatility might slow in the week ahead, but keep an eye on key event risk in Japan
– Have a strong opinion on the Dollar? Voice it through FXCM currency baskets – US dollar
Lets start USD INR live chart :
- Daily Chart =>
From long term it shows a continuation to down trend, then right now it is under strong consolidation and expecting to some strong news – which will break the resistance level at 64.00 or support level at 60.91
Weekly Chart (USD INR live Chart)=>
Considering the previous trend is uptrend. We can consider this as an retrace to previous up trend and see the continuation again at 50%, though it is under strong consolidation but I feel strongly that if you are on bullish side then you can Hold your orders and see next resistance level at 64.00
Monthly Chart (USD INR live Chart)=>
Pennant break out, a strong UPtrend, and now consolidation – wait for some pattern formation if you wanna to enter into a long trend.
Video useful for your trading
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