Advertisement Heavy swings in the dollar make highly profitable trades

The USD/INR is trading near the 82.3900 mark as of this writing. Readers are urged to compare the rate of the currency pair as they look over this article to the actual market price to get an idea of the volatility which remains abundant in the USD/INR. The record highs being demonstrated are also causing rather wicked reversals lower, the combination of gaps, all-time highs and sudden momentum downward is creating a dangerous landscape for speculators who are trying to take advantage of perceived technical trends.

Yes, the bullish upwards momentum in the USD/INR remains strong and betting against this climb is wildly dangerous . Pursuing reversals lower should be done with extreme care and the use of take profit orders to escape with worthwhile trades when they are produced is encouraged.Yesterday's Opening in the USD/INR was Dangerous but Expected

After going into the weekend with strong upwards momentum, yesterday's opening in the USD/INR produced an astonishing gap higher. A mark of nearly 82.8000 momentarily was seen, but it quickly vanished as a reversal powerfully took the USD/INR to a depth around the 82.3300 ratio. This level is now serving as a rather intriguing support level.

The record height of the USD/INR has developed within the framework of a long term bullish trend which has seen many other emerging currencies lose value against the USD. Rhetoric from the U.S continues to feed the bullish trend and the notion that a hawkish interest rate policy remains intact serves as support for the USD/INR.Risk Management and Entry Price Orders are Essential in the USD/INR

• If a trader wants to pursue the USD/INR they should certainly use an entry price orders to make sure their fill meets expectations. Strong fluctuations in the USD/INR can prove very costly when the market action goes against a trader.
• Traders should keep their targets realistic when wagering on the USD/INR and patience is needed. The USD/INR moves fast, but waiting for a target to be achieved always feels like it is taking longer than expected.

  The USD/INR remains . The 18.3700 to 18.3500 levels could be viewed as intriguing short term support ratios to ignite long positions for speculators. While short sellers may feel compelled to test highs when resistance is 'achieved', they should be careful as they bet against what has become a solid bullish trend which has been rather consistent.USD/INR Short Term Outlook:

  Current : 82.4520

  Current Support: 82.3300

  High Target: 82.6170

  Low Target: 82.2490

  Ready to trade our ? Here are to choose from.

MENAFN12102022000131011023ID1105005992