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USD/INR PRICE ACTION ANALYSIS: WATCH THIS KEY LEVEL


“So folks just watch out the USD/INR Price action around the zone 64.25-64.00. Also keep an eye on this week’s economic calendar and News events”.

This is following weekly chart of USD/INR. There are few things we can point out by looking at this chart.
USD/INR Price action analysis November 2

USD/INR has fallen down from 67.00- 64.50. From last 3 weeks (almost nearly an October) Price is holding around 64.50 which is just above the key level of 64.25 and 64.00. And also by looking at the Market structure we can see that Price action is in long-term uptrend. (Look at the red diagram in the chart). Market structure is from our proprietary price action analysis. All these show that, USD bulls are still in track. From these following observations we can conclude, there is more chance that USD/INR will once again moves upside by touching the key level zone at 64.25-64.00.

From the perspective of Macroeconomics, three prime factors that influence the market conditions are:
1.US Federal reserve and their monetary policy cues
2.RBI’s Interest rate commitment
3.China’s economic situation.

So folks just watch out the Price action around the zone 64.25-64.00. Also keep an eye on this week’s economic calendar and News events.Remember today is November 2, 2015, A new month which means new economic releases and reports; it will add heavy volatility in the markets. Traders stay safe and happy trading.

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Trading Predator

About the Author:

Balaji is a Speculator, Investor and Trader (All in All!!!) and self published author. Trading in the Markets since decade, have seen more ups and downs along with institutional trader's lifestyle. He usually trades Nifty, Bank Nifty, Commodities, Futures cum Options around both Indian and global Markets. Balaji applies highly analytical and systematic Price Action strategies He blogs passionately about Trading strategies, Price Action Trading, Technical analysis, Macro events, Market setups, Financial and Economical topics. Apart from Trading and Blogging, Balaji also mentors aspiring Traders and Investors on becoming successful in highly competitive financial Markets.

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