USDINR dropped to 66.88 yesterday down 17 paisa. As we have been saying we do not see significant upside in USDINR from here and USDINR has good resistance between 67.02-67.10 Spot Rates. On rise towards 67.02-67.10 we can take short selling positions in USDDINR as we see a target of 65 and then even 63. Longer term we will see 72 but for this move we will see 65 and then towards 63 in the short term. Hence traders can sell on rise towards resistances. Due to FED meeting in this week we could see volatility spike up in USDINR and due to current astro cycles we could see people in panic (in price terms we are not expecting any significant move, but as astro cycles are showing us that people will begin to panic and take stupid decisions at that point in time only to regret doing that a few minutes later) Hence it is our request that keep cool, have lots of water, consume more of fruits and take rest and sleep as much as possible.
USDINR Minor Trend is neutral. USDINR Major Trend is down / bearish. On rise the strategy is to sell (when to sell, where to sell, how much to sell etc all details will be given to clients live during market hours, if you are trading only on the basis of this post please trade with proper risk management systems and please avoid over trading at all cost.)
Good Trading To You!