USD/INR -True Targets, Strategies, Near-term Fx Price Movements.
|URGENT PAIR USD/INR – DAILY CHART:
Downtrend USD/INR Open- 71.05, Target - 67.85, Resistance- 73.85
| Asset |
|---|
| Dollar Index Spot |
| USD/INR |
ULTRA SPECIFIC CETERIS PARIBUS STRATEGY:
“Without strategy and execution, a great idea will remain just a good idea.”- Dominic
By keeping in mind the projected target price constant trade frequently 3- 4 times a day. Maintain proper margin for carry forward. Trader should maintain back up to 600 points (approx) if opposite scenario happen. Hold the open positions overnight in case of verified short term trend for maximum profit.
Always maintain a portfolio of EUR/INR, JPY/INR, GBP/INR,and USD/INR and distribute total trading volume among them.
DXY FUNDAMENTALS TODAY
UNIQUE TRADING PROCESS:
Trading process is based on ZIGZAG Analysis and combining with ADX. First, predicting buy/sell any type (limit/stop) intra day. Second, identifying any type of hourly candlestick pattern formation, it is suggested to enter 1st position (buy/sell) at any level between the average of daily entry and sl price.
Third, try to book initial quick profit to verify predictions validity. This process can be repeated twice or thrice in sidewise market. Also distribution of positions by averaging method will be helpful. This way we can maximize intra day profit, provided that the daily market direction is verified and holds true.
Fourth, on the fundamental side we will check the price action more during the news in economic calendar on CPI (Consumer Price Index) data of USA and INDIA. Trade deficit data is important to follow for more volatility.
ASSETS THAT INFLUENCE USD/INR THE MOST
- Currencies: USD, CNY and GBP.
- Commodities: Gold, oil and silver (India is a major oil and commodity importer).
- Bonds: T-NOTE 10Y (10 year United States Treasury note) and GIND10YR (India Government Bond Generic Bid Yield 10 Year).
- Indices: S&P BSE SENSEX (S&P Bombay Stock Exchange Sensitive Index), NIFTY (National Stock Exchange of India's benchmark stock market index for Indian equity market) and NSE (National Stock Exchange of India Ltd).
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