USDINR Update 10th Feb 2016
USDINR has once again breached 68 level and now has come towards 68.20 today. As per our USDINR prediction / USDINR analysis we do not see USDINR moving much higher than 68.30-68.50 spot levels mentioned. On rise now we must start selling the dollar as we are expecting the rupee to start appreciating towards 66.10-65.50 in the first round and we do not see much volatility during the move. Sure minor volatility is expected and we are not suggesting for one minute that it will be a vertical move but from a positional stand point we see this is one of the best time to sell dollar and hold longs in Indian rupee. Use this move above 68.20-68.60 to sell dollars in a proper staggered manner or sell at low risk entry points or sell at small stop loss points.
Please understand that this move towards 65.50-66.10 and then subsequent move towards 63 will only be a pullback in a larger move towards 72. USDINR will test 72-72.50 within the next 21 months. We are just writing what we see as per our charts and astro cycle and time cycles what news will come we do not know so please keep that in mind and trade accordingly.
Good Trading To You!