• Forex

    Update on USD/INR – 10.Feb.2015

    USDINR tips

    HI all,
    The pair USD/INR opened with a gap down at 62.3475 against yesterday’s closing LTP 62.39
    Closest resistance of 62.39 was not broken in the morning session as the pair was in Overbought zone and it went upto 62.13(Daylow) without any bullish pullback.
    But bulls gained upperhand in afternoon session and started slowly their rally towards 62.40 (Dayhigh). Closing LTP was near Dayhigh, 62.3975
    Technical Analysis:-
    DMI analysis shows Bears are still strong and I expect a selling at tomorrow morning’s opening session. 62.0950 was the target which was left unhit today in the lower side.
    62.42 & 62.48 are the closest resistances.
    Nifty analysis:-
    Nifty opened with gap down at 8499.95 which was purely in oversold area that helped it to bounce back upto 8683.50 levels. Closing was at 8625.
    Positive GDP data from India which came out yesterday evening helped Nifty to close in green while BJP was totally outperformed by AAP (Aam Aadmi Party) in New Delhi elections.

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  • Forex

    Update on USD-INR – 9.Feb.2015

    USDINR tips

    Hi all,
    Welcome back after weekend.
    Today we saw USD/INR opened very high at 62.2050 against Friday’s closing LTP of 61.9150. Hence my target for Friday 62.0650 was hit before opening. On Friday, I wrote I was expecting the pair to touch 62.06 atleast...
    This could be due to positive NFP data from U.S and some technical reasons which I wrote on last Friday’s blog post.
    After opening and recording a Daylow of 62.1950, the pair rallied upto 62.4350 (Dayhigh). Closing LTP was 62.39
    Technical Analysis:-
    It was a pure bullish day for USD/INR where it opened well above Fibo pivot. The resistances at 62.22 and 62.39 were broken and 62.56 is the resistance that was left unhit.
    Williams %R indicator showed that the pair is in Sell zone but DMI indicator and IV analysis gave a strong Bullish signal. Also Nifty and BSE Sensex plunged today due to exit poll results from New-Delhi which were probably against BJP govt: in the center.

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  • Forex

    Update on USDINR – 6.Feb.2015

    USDINR tips

    Hi all,
    You are reading my 100th post in the category “Forex”.
    USD/INR opened at 61.9950, a bit higher than yesterday’s closing LTP 61.97. As said in my blog post yesterday I hope the selling will continue atleast upto 61.86, the Daylow was 61.8625 and then pair started to bounce back upto 62.0350 (Dayhigh). I was expecting the pair to touch 62.06 atleast but Bulls lost their way at 62.0350. Hence the pair went down again and closed at 61.9150.
    Analysts may say that the market lost its momentum by waiting Non Farm Payroll (NFP) from U.S. in the daytime. Anyhow NFP data came out a bit earlier and seems positive for US Dollar.

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  • Forex

    Update on USD-INR – 3.Feb.2015

    USDINR tips

    Hi all,
    In yesterday’s blog post, I said that markets were anticipating a rate cut. But RBI today announced no change in Repo, Reverse Repo rates. A change was made in SLR which didn’t make any big move in the market.
    Nifty was in red since today morning. But it recovered a bit in the late afternoon.

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