Binance
#WAN/USDT All take-profit targets achieved 😎
Profit: 9.3898% 📈
Period: 19 Days 14 Hours 39 Minutes ⏰

Binance Futures, ByBit USDT
#TOMO/USDT Take-Profit target 7 ✅
Profit: 66.5712% 📈
Period: 3 Days 10 Hours 30 Minutes ⏰

Binance Futures, ByBit USDT
#TOMO/USDT Take-Profit target 7 ✅
Profit: 61.4498% 📈
Period: 1 Days 23 Hours 50 Minutes ⏰

Binance Futures, ByBit USDT
#TOMO/USDT All take-profit targets achieved 😎
Profit: 76.4585% 📈
Period: 3 Days 11 Hours 45 Minutes ⏰

USDINR:

USDINR is stuck within a broad range of 82.40/50 and 82.90/83.00 levels on spot. There have been media reports of the central bank intervening in the offshore markets to keep the pair stable during after-hours. There are no fresh triggers for a trend to develop and hence over this week as well we may see the range hold. Range trading is beneficial for two kinds of traders, option sellers, and scalpers. Option sellers can focus on short straddles and strangles if they are looking for intra-day or 1-2 day theta play but expiry-related traders can focus on hedged strategies like Iron Fly. Iron fly trades require lower margins than unhedged strategies but one has to wait with them till expiry or close to expiry.

A well-defined range is also beneficial for scalpers. One can look to go long near 82.50 with SL below 82.35 on a spot-closing basis. Exit and reverse to short near 82.90 with SL above 83.05 on a spot-closing basis.

(Expected range for the day: 82.55-82.90. Intra-day Bias: Rangebound)


GBPINR:

The Bets of the FED tightening have gone up again, earlier the traders were speculating that the interest rates would remain higher for longer, but after the FED members mentioned that the central bank is flexible with the interest rate and they might opt for a higher rate in the coming policy, increased the bets of a 50 BPS increase in the coming policy. This brought the GBPUSD pair under a lot of pressure, at the moment it is hovering near the 1.20 mark.

The GBPINR pair was hammered quite a bit in the previous week. the Feb futures broke below the 99.00 mark. This week we might see some relief rally, which might take the pair higher toward the 99.50 zone. On the downside, if the pair managed to break below 98.50, we might see further sell-off which could take the pair lower towards 98.00 and eventually towards 97.30.

(Expected range for the day: 99.30-99.90. Intra-day Bias: Rangebound)


EURINR:

The economic calendar for the Euro is fairly empty, we only have the German and the French PMI data release. So the Euro will mostly follow the US Dollar through the week. The EURUSD pair seems to have stabilized near the 1.06 mark.

The EURINR pair moved lower towards the 88.00 mark, in the sessions to come, if the pair break below the 88.00 zone, we might see further sell-off in the pair, which could push the pair lower towards the 87.50 and eventually 87.00 mark.

(Expected range for the day: 88.20-88.70. Intra-day Bias: Rangebound)


JPYINR:

The speculation around the FED opting for a bigger 50 BPS rate hike in the coming policy has pushed the US 10-year bond yields higher, this has put the Yen lower and the USDJPY pair higher above the 134 mark. The JPYINR pair has been facing some sell-off, on Friday the pair broke and closed below the 62.00 mark. In the sessions to come, the pair is expected to find support near the 61.00 mark, and on the upside, we might find the pair face rejection near 62.10-62.50.

(Expected range for the day: 61.50-61.90. Intra-day Bias: Rangebound)

USDINR:

USDINR is stuck within a broad range of 82.40/50 and 82.90/83.00 levels on spot. There have been media reports of the central bank intervening in the offshore markets to keep the pair stable during after-hours. There are no fresh triggers for a trend to develop and hence over this week as well we may see the range hold. Range trading is beneficial for two kinds of traders, option sellers, and scalpers. Option sellers can focus on short straddles and strangles if they are looking for intra-day or 1-2 day theta play but expiry-related traders can focus on hedged strategies like Iron Fly. Iron fly trades require lower margins than unhedged strategies but one has to wait with them till expiry or close to expiry.

A well-defined range is also beneficial for scalpers. One can look to go long near 82.50 with SL below 82.35 on a spot-closing basis. Exit and reverse to short near 82.90 with SL above 83.05 on a spot-closing basis.

(Expected range for the day: 82.55-82.90. Intra-day Bias: Rangebound)


GBPINR:

The Bets of the FED tightening have gone up again, earlier the traders were speculating that the interest rates would remain higher for longer, but after the FED members mentioned that the central bank is flexible with the interest rate and they might opt for a higher rate in the coming policy, increased the bets of a 50 BPS increase in the coming policy. This brought the GBPUSD pair under a lot of pressure, at the moment it is hovering near the 1.20 mark.

The GBPINR pair was hammered quite a bit in the previous week. the Feb futures broke below the 99.00 mark. This week we might see some relief rally, which might take the pair higher toward the 99.50 zone. On the downside, if the pair managed to break below 98.50, we might see further sell-off which could take the pair lower towards 98.00 and eventually towards 97.30.

(Expected range for the day: 99.30-99.90. Intra-day Bias: Rangebound)


EURINR:

The economic calendar for the Euro is fairly empty, we only have the German and the French PMI data release. So the Euro will mostly follow the US Dollar through the week. The EURUSD pair seems to have stabilized near the 1.06 mark.

The EURINR pair moved lower towards the 88.00 mark, in the sessions to come, if the pair break below the 88.00 zone, we might see further sell-off in the pair, which could push the pair lower towards the 87.50 and eventually 87.00 mark.

(Expected range for the day: 88.20-88.70. Intra-day Bias: Rangebound)


JPYINR:

The speculation around the FED opting for a bigger 50 BPS rate hike in the coming policy has pushed the US 10-year bond yields higher, this has put the Yen lower and the USDJPY pair higher above the 134 mark. The JPYINR pair has been facing some sell-off, on Friday the pair broke and closed below the 62.00 mark. In the sessions to come, the pair is expected to find support near the 61.00 mark, and on the upside, we might find the pair face rejection near 62.10-62.50.

(Expected range for the day: 61.50-61.90. Intra-day Bias: Rangebound)

Binance Futures
#ATOM/USDT Closed due to opposite direction signal ⚠

Binance Futures, ByBit USDT
#ATOM/USDT Entry target 1 ✅
Average Entry Price: 14.115 💵

Binance Futures
#HOT/USDT Take-Profit target 3 ✅
Profit: 49.6516% 📈
Period: 23 Days 19 Hours 33 Minutes ⏰

Binance Futures, ByBit USDT
#LINK/USDT Take-Profit target 4 ✅
Profit: 33.8089% 📈
Period: 1 Days 17 Hours 55 Minutes ⏰

Binance Futures
#HOT/USDT Take-Profit target 4 ✅
Profit: 62.2822% 📈
Period: 23 Days 19 Hours 41 Minutes ⏰