USDINR 8th Feb 2016
As per our USDINR analysis / USDINR Prediction last week did show us early signs of turn around and we are expecting a final move towards 68.50-68.30 and then begin the move towards 63-63.50 spot levels mentioned. Those who are holding USD must start moving out of USD at higher levels and convert them to INR. (this must be done especially if you are holding AED,SAR,KD as we see these currencies being devalued by 15/20 percent) and we see INR appreciating in the near term towards 63.50-63.
USDINR short positions can be taken above 68.30 in a staggered manner or at low risk entry points or at consolidation and break down points. We do not expect any significant upsides beyond 68.50 in the near term but as per our longer term analysis we see USDINR taking out 70 and nearing 72 also so please keep in mind we are not predicting the revival of the Indian economy and hence the strength in the Indian Rupee. It will just be another tricl played out thanks to the powerful deception that Rahu ( North Node) will create and make the smartest of investors believe that now on everything is absolutely fine with the Indian economy but in reality we see only a “Bina Karan Tezi cycle” this rally will not be backed by any fundamental triggers or real GDP growth.
Good Trading To You!