Forex Rates / USDINR
Error fetching: cURL error 28: Operation timed out after 2000 milliseconds with 0 bytes received
USDINR 8 Month Forward Futures RatesError fetching: cURL error 28: Operation timed out after 2001 milliseconds with 0 bytes received
USDINR 6th Nov 2015 Update
USDINR today has entered our target zone of 65.70-66 Spot Rates which we were were expecting and predicted when USDINR was hovering around 64.50 area. We had clearly predicted this move well in advance. From now on we do not see significant weakness in rupee vs the US$ for the next few trading days.
USDINR Minor Trend is Down. USDINR Major Trend is down. Overall we see USDINR will now beginning to stabilize over next 2-5 trading days as there are important time cycle supports for USDINR between 9-12th Nov 2015. Also astro cycle will be more supportive for the rupee and we see INR appreciating against the US$ from now on towards 15th Dec 2015.
As per our USDINR analysis / Forex Rates prediction we have recommended / Advised our importers to begin closing hedging positions initiated around 64.30-64.50 (USDINR Spot Levels Mentioned). As of now see the next wave of INR appreciating towards 63 (USDINR Spot Levels Mentioned)
We will be looking to build shorts in US$ in the next few trading sessions. We do not see USDINR depreciating beyond 66.22 (USDINR Spot Levels Mentioned). Overall the risk reward ratio is in favor of selling $ for now vs INR.
Good Trading To You!