USDINR Future
Monthly
- It is going through the consolidation in the range of 72.5 to 74.5
- Inherant it is still uptrend
Weekly
- Rejected to go above 74.5, this is 10th time it has to touched to the level of 74.5 and rejected, with Bearish engulfing, evening star pattern.
- For me it is likely to continue the bearish trend for sometime, till 73.
Daily
- Again a bearish pattern, Double Top, friday's candle is closed below neck line so likely to continue bearish from here onwards.
News may Impact
- Jul 28, 23:30 USD Fed's Monetary Policy Statement
- Jul 28, 23:30 USD Fed Interest Rate Decision
As the monthly, it is UP trend and currently, it's going through the consolidation phase. Also in the coming week, High Impact news is coming, it is a bit risky to stay invested for a long time. My strategy would be to continue holding till we get the outcome of Tuesday's meeting (Jul 28, 23:30 USD Fed Interest Rate Decision ), and then we can decide if we really want to continue or how.
https ://www .tradingview .com /x/ QDKyktCG/
Thank You!!
Avinash Sawant
+91 9975415566
Monthly
- It is going through the consolidation in the range of 72.5 to 74.5
- Inherant it is still uptrend
Weekly
- Rejected to go above 74.5, this is 10th time it has to touched to the level of 74.5 and rejected, with Bearish engulfing, evening star pattern.
- For me it is likely to continue the bearish trend for sometime, till 73.
Daily
- Again a bearish pattern, Double Top, friday's candle is closed below neck line so likely to continue bearish from here onwards.
News may Impact
- Jul 28, 23:30 USD Fed's Monetary Policy Statement
- Jul 28, 23:30 USD Fed Interest Rate Decision
As the monthly, it is UP trend and currently, it's going through the consolidation phase. Also in the coming week, High Impact news is coming, it is a bit risky to stay invested for a long time. My strategy would be to continue holding till we get the outcome of Tuesday's meeting (Jul 28, 23:30 USD Fed Interest Rate Decision ), and then we can decide if we really want to continue or how.
https ://www .tradingview .com /x/ QDKyktCG/
Thank You!!
Avinash Sawant
+91 9975415566
