Forex Trading USD INR Technical Analysis

By | April 5, 2013

USD INR 4 hour chart is trading in a perfect symmetrical triangle , volatility has almost died signalling the advent of big move in round the corner. This is what we discussed 2 days ago 

USD INR is trading at 1 month low and very near to breakout on weekly charts, signalling another big upmove is round the corner, Lets discuss in details.

USD INR 4 Hour Chart

usdinrh4

USD INR 4 hour chart broke the symmetrical triangle on upside , Target for triangle breakout comes at 55.889

 USD INR Daily Chart

usdinrdaily

As per Daily charts INR is trading above 200 DMA, signalling long term trend has turned has bullish.55.105-55.348  is next zone of resistance and supply zone.

 

 USD INR Weekly Chart

usdinrweekly

Weekly charts are signalling a breakout above 54.860.Higher time frame breakout is most powerful, so USD INR trend is looking extremely bullish above 54.860. Bullishness in INR signals bearishness for Nifty.

 

Buy above 55.1600 Tgt 55.3042,54.4458 and 55.7117 SL 55.0600

Levels are mentioned are USD INR April Future

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