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Binance Futures, ByBit USDT
#TOMO/USDT All entry targets achieved
Average Entry Price: 0.4139 💵

Binance Futures
#TOMO/USDT Take-Profit target 1 ✅
Profit: 15.2192% 📈
Period: 1 Hours 32 Minutes ⏰

Binance Futures, ByBit USDT
#BAL/USDT Take-Profit target 1 ✅
Profit: 16.4046% 📈
Period: 3 Hours 41 Minutes ⏰

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USDINR:

USDINR continues to oscillate between 82.50 and 83.00 levels on spot. A strong US Dollar Index on the back of higher than-expected US whole sale inflation and hawkish comments from US central bank members have failed to trigger a breakout. Last December USDINR was caught in a narrow range near 83.00 and before breaking down. But during that period, US Dollar Index declined by over 10 percent and hence convergence was expected. But this time around, if US Dollar Index continues to inch higher, then the longer the USDINR remains near 83.00, the breakout zone, the greater the risk of an eventual breakout.

Till the time the bullish breakout is not occurring, one can always consider the following trades:

Short USDINR with SL and reverse and above 83.00 on spot on a closing basis.

Sell straddles or strangles but with a small position size and adequate stop losses.

We would prefer iron fly, as it is hedged and can handle false breakout moves. USDINR has support near 82.50 and then 82.30 levels.

(Expected range for the day: 82.60-83.00. Intra-day Bias: Rangebound)


GBPINR:

The risk sentiment has been the major driver for the GBP this week. The FED expected to maintain its hawkish stance and keep the terminal rate high for longer than expected, while the BOE expected to mellow down and opt for a dovish stance triggered a major sell-off in the GBPUSD pair. As of now, the pair has managed to move below the 1.20 mark. The GBPINR could see a negative open and might move lower toward the 99.00 mark during the day. On the upside, the 100.00-100.20 zone is expected to act as a resistance.

(Expected range for the day: 98.70-99.35. Intra-day Bias: Rangebound)


EURINR:

The FED members echoing hawkish gave the Dollar a boost and pushed the Dollar index above the 104.00 mark, at the same time we had the ECB members who have been telling that the policy rate decisions will be dependent on the data from the EUROAREA, this was taken as fairly less hawkish by the traders and the EURUSD pair witnessed a massive sell-off. The EURINR has been moving between 88.00 and 89.00. In the sessions to come these levels will act as crucial support and resistance points.

(Expected range for the day: 87.95-88.55. Intra-day Bias: Rangebound)


JPYINR:

The recent data releases and the words of the FED members have made it clear that the central bank is looking to keep the interest rate high for longer than expected. This has pushed the US 10-year bond yields higher, which in turn has pushed the US Dollar higher. This has put the YEN under a lot of pressure. The JPYINR pair has been under a lot of pressure for the past couple of sessions, on Thursday the pair also broke below the 62.00 zone. In the sessions to come, we might see the pair find support near 61.30. On the upside, we might see the resistance come in near the 62.20 level.

(Expected range for the day: 61.30-61.90. Intra-day Bias: Rangebound)

Binance Futures, ByBit USDT
#INJ/USDT Entry target 1 ✅
Average Entry Price: 3.781 💵

#INJ/USDT
Signal Type: Long
Leverage: Cross 20x

Entry Targets: 3.781 3.350

Take-Profit Targets:
1) 3.810
2) 3.840
3) 3.880
4) 3.930
5) 3.995
6) 4.070
7) 4.150
8) 4.250

Stop-Loss: 2.900

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