Telegram-канал wolfxbillionaireteam - CRYPTO WOLFX SIGNALS📈📛📛📛: Криптовалюты

CRYPTO WOLFX SIGNALS📈📛📛📛

01 февраля 2023 07:29

USDINR:

USDINR is being offered ahead of the Budget. It is going to be a volatile day in USDINR. In the offshore, USDINR is back inside the range of 81.40 and 81.80 on spot, trading near 81.74/75 levels. If prices sustain below 81.80, it would be a major false breakout but such moves have occurred in the past. When USDINR used to be ranged between 82.60 and 83.00 on spot, it broke and closed below that range, only to pull back and close near the upper end of the range, but finally, the downtrend re-asserted. Such price actions would knock any trend trader, but that’s why we have stop losses and proper position sizing. Such erratic moves also underscore the importance of hedged strategies like iron fly over unhedged strategies like a short straddle or strangle.

USDINR has an upward bias as long as prices are not closing below 81.60 levels. Trade within smaller position sizes and large stop losses. The focus will be on the policies on direct taxes and fiscal math. Volatility will be across the board, from equity to bonds to currencies.

GBPINR:

Other than the FED outcome we have a lot of data releases from the US economy, namely the Non-Farm employment change, JOLTS Job Openings, and ISM Manufacturing PMI, these releases are expected to spike up the volatility in the markets. From the UK economy we have the BoE policy, so traders might thread carefully.

The GBPINR has been facing rejection every time it attempts to move higher. On the downside, the pair has been able to find support near the 100.00 mark, so this level can act as support in the sessions to come. On the upside, we might see resistance come in near the 101.50 level.

EURINR:

The EURUSD pair has been witnessing choppy moves. On Tuesday the pair bounced off the 1.08 mark and moved higher towards the end of the session, this morning the pair seems to be under a bit of pressure, which shows classic PRE-FED anxiety. Though the data from the US economy has been supporting a smaller-sized hike, the FED chair has been defending the Central Bank’s hawkish stance. For the day there are a few releases from the US economy that might change the market mood and the risk sentiment, but traders might be careful as we have the ECB policy tomorrow.

The EURINR has been sideways and has been trading between 89.20 on the upside and 88.50 on the downside. In the sessions to come, as long as these bounds are not breached we might see consolidation.

JPYINR:

The FED continuing with the hawkish stance and the BoJ adamant about keeping the policy ultra-loose has been capping the gains in the Yen. The USDJPY pair has been range bound and moving around the 130.00 mark in the past couple of sessions.

The JPYINR pair has been facing rejection near the 64.00 zone, so in the sessions to come we might see this level act as a resistance. On the downside, we might see the support come in near the 62.60 level.