#HNT USDT
HNT IS HAVING MAJOR TRENDLINE SUPPORT AT 2.552 So for now One can take a long Trade in HNT from The 2.552 zone.
HNT IS HAVING MAJOR TRENDLINE SUPPORT AT 2.552 So for now One can take a long Trade in HNT from The 2.552 zone.
#Matic Usdt
Matic is having very strong horizontal support at 0.9526
From that zone, Matic will Shoot Up.
Matic is having very strong horizontal support at 0.9526
From that zone, Matic will Shoot Up.
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#MANA/USDT
Signal Type: Long
Leverage: Cross 20x
Entry Targets: 0.6525 0.6150
Take-Profit Targets:
1) 0.6550
2) 0.6575
3) 0.6600
4) 0.6640
5) 0.6690
6) 0.6740
7) 0.6800
8) 0.6870
Stop-Loss: 0.5900
Signal Type: Long
Leverage: Cross 20x
Entry Targets: 0.6525 0.6150
Take-Profit Targets:
1) 0.6550
2) 0.6575
3) 0.6600
4) 0.6640
5) 0.6690
6) 0.6740
7) 0.6800
8) 0.6870
Stop-Loss: 0.5900
#BTC/USDT ANALYSIS
BTC is on the verge of a long descending trendline resistance. It is trading above Ichimoku cloud and MA 100 and attempting to do a proper breakout.
A solid breakout of the descending trendline resistance would be another strong confirmation of the bullish trend in the market.
If it rejects from here, there might be a potential situation of retesting the horizontal support of $19K to make a higher low above it.
BTC is on the verge of a long descending trendline resistance. It is trading above Ichimoku cloud and MA 100 and attempting to do a proper breakout.
A solid breakout of the descending trendline resistance would be another strong confirmation of the bullish trend in the market.
If it rejects from here, there might be a potential situation of retesting the horizontal support of $19K to make a higher low above it.
USDINR:
USDINR opened marginally higher, around 81.40 on Jan futures, due to the sell-off in the equity markets. Yesterday, US economic data once again confirmed the theme that 2023 is about a slower economy and vanishing inflation. U.S. retail sales fell by the most in a year in December, pulled down by declines in purchases of motor vehicles and a range of other goods. A weaker consumer spending is also dragging US industrial production and capacity utlisation in the factories. Lower growth and weaker commodity prices are enough to push US wholesale inflation deep into the negative territory on a month-over-month basis. All in all, US Fed has a limited window to keep pushing rates toward 5% from 4.5% now. The US bond market continues to bet on rate cuts from the Fed, during the second half. The longer the Fed delays the rate cut, the bigger can be the risk of economic/financial accidents in the economy and the markets.
US Dollar Index and US Dollar against Asian currencies have ticked up due to risk-off sentiments but lack of support from the US bond yields would mean that USD can face selling pressure at higher levels. USDINR has support around 81.20 and resistance near 81.50 and 81.75/90 zone on Jan futures. Our bias remains downward. We would look to sell on the rise and our stop on the positional shorts will be above 81.90 levels. Once the pair breaks below 81.20, we can see prices test the 80.80/95 zone.
GBPINR:
As mentioned in the earlier write-ups, there are two stories that are dominating the GBP, one is the inflation sustaining near the multi-decade high, and the second is the interest rate differential that is expected to widen, as the BOE is expected to opt for the higher than expected rate hike when the FED is expected to reduce the pace of tightening. Looking at the price action in the GBPUSD pair, the 2nd story seems to be unfolding.
The GBPINR pair, since the past couple of sessions, has been trading with a bit of a bullish bias, yesterday the Jan futures ended the session near the 100.50 mark. in the sessions to come, we might expect the 101.00-101.20-mark to act as a resistance and on the downside, we might see the support come in near the 100.00.
EURINR:
Bloomberg reports about the ECB members considering smaller-sized hikes after the energy prices have cooled off substantially from the highs, putting a lot of pressure on the EURUSD pair. Today the traders will be focused on the Lagarde, speech wherein they will be looking for hints and clues about the next move by the central bank.
The EURINR pair has been facing rejection near the 88.80 level for the past couple of weeks, this level is expected to be a crucial resistance zone in the sessions to come. On the downside, the immediate support is placed near the 87.80 zone.
JPYINR:
The USDJPY pair witnessed a huge surge in volatility after the BoJ policy, as the central bank kept the policy unchanged. Initial reactions were the sell of the Yen which pushed the USDJPY pair higher toward the 132.00 handle, later during the session the risk sentiment turned and we saw the dollar gain strength, leading to a reversion in the USDJPY pair towards the 128.00 level. This morning there were commentaries from Takatoshi Ito, who is a contender for BoJ governor, wherein he mentioned that the BoJ might not tweak the YCC at least until April, however, he mentioned that they might choose to abandon the negative rate, provided they saw development in the inflation and the wage growth.
JPYINR January futures found support near the 62.30 handles and moved higher toward the end of the session. In the sessions to come, we might see the pair find resistance near the 64.00 mark and on the downside, we might see the support come in near 62.30.
USDINR opened marginally higher, around 81.40 on Jan futures, due to the sell-off in the equity markets. Yesterday, US economic data once again confirmed the theme that 2023 is about a slower economy and vanishing inflation. U.S. retail sales fell by the most in a year in December, pulled down by declines in purchases of motor vehicles and a range of other goods. A weaker consumer spending is also dragging US industrial production and capacity utlisation in the factories. Lower growth and weaker commodity prices are enough to push US wholesale inflation deep into the negative territory on a month-over-month basis. All in all, US Fed has a limited window to keep pushing rates toward 5% from 4.5% now. The US bond market continues to bet on rate cuts from the Fed, during the second half. The longer the Fed delays the rate cut, the bigger can be the risk of economic/financial accidents in the economy and the markets.
US Dollar Index and US Dollar against Asian currencies have ticked up due to risk-off sentiments but lack of support from the US bond yields would mean that USD can face selling pressure at higher levels. USDINR has support around 81.20 and resistance near 81.50 and 81.75/90 zone on Jan futures. Our bias remains downward. We would look to sell on the rise and our stop on the positional shorts will be above 81.90 levels. Once the pair breaks below 81.20, we can see prices test the 80.80/95 zone.
GBPINR:
As mentioned in the earlier write-ups, there are two stories that are dominating the GBP, one is the inflation sustaining near the multi-decade high, and the second is the interest rate differential that is expected to widen, as the BOE is expected to opt for the higher than expected rate hike when the FED is expected to reduce the pace of tightening. Looking at the price action in the GBPUSD pair, the 2nd story seems to be unfolding.
The GBPINR pair, since the past couple of sessions, has been trading with a bit of a bullish bias, yesterday the Jan futures ended the session near the 100.50 mark. in the sessions to come, we might expect the 101.00-101.20-mark to act as a resistance and on the downside, we might see the support come in near the 100.00.
EURINR:
Bloomberg reports about the ECB members considering smaller-sized hikes after the energy prices have cooled off substantially from the highs, putting a lot of pressure on the EURUSD pair. Today the traders will be focused on the Lagarde, speech wherein they will be looking for hints and clues about the next move by the central bank.
The EURINR pair has been facing rejection near the 88.80 level for the past couple of weeks, this level is expected to be a crucial resistance zone in the sessions to come. On the downside, the immediate support is placed near the 87.80 zone.
JPYINR:
The USDJPY pair witnessed a huge surge in volatility after the BoJ policy, as the central bank kept the policy unchanged. Initial reactions were the sell of the Yen which pushed the USDJPY pair higher toward the 132.00 handle, later during the session the risk sentiment turned and we saw the dollar gain strength, leading to a reversion in the USDJPY pair towards the 128.00 level. This morning there were commentaries from Takatoshi Ito, who is a contender for BoJ governor, wherein he mentioned that the BoJ might not tweak the YCC at least until April, however, he mentioned that they might choose to abandon the negative rate, provided they saw development in the inflation and the wage growth.
JPYINR January futures found support near the 62.30 handles and moved higher toward the end of the session. In the sessions to come, we might see the pair find resistance near the 64.00 mark and on the downside, we might see the support come in near 62.30.