A chart says more than a thousand words!
As the technical analysis suggests, The #usdinr is once again all set to give a bullish breakout of an ascending triangle pattern.
Here are three fundamental reasons that can also support this breakout.
- Federal Reserve's preferred inflation indicator, The US core PCE price index has increased by 4.7% annually, beyond market estimates of 4.3% and rising from December's rate of 4.6%.
- FOMC minutes signal that policymakers will increase interest rates and keep them higher for longer to tame unsustainable price growth.
- A fall in the Indian foreign exchange reserve from 575.27 billion to 561.27 billion this month and rising US bond yields will also strengthen the dollar against the Indian rupee.
Note: This post is only for educational purposes. Trade at your own risk.
#forex #usdinr #trading #technicalanalysis
#federalreserve #newsupdate #interestrates #inflation
As the technical analysis suggests, The #usdinr is once again all set to give a bullish breakout of an ascending triangle pattern.
Here are three fundamental reasons that can also support this breakout.
- Federal Reserve's preferred inflation indicator, The US core PCE price index has increased by 4.7% annually, beyond market estimates of 4.3% and rising from December's rate of 4.6%.
- FOMC minutes signal that policymakers will increase interest rates and keep them higher for longer to tame unsustainable price growth.
- A fall in the Indian foreign exchange reserve from 575.27 billion to 561.27 billion this month and rising US bond yields will also strengthen the dollar against the Indian rupee.
Note: This post is only for educational purposes. Trade at your own risk.
#forex #usdinr #trading #technicalanalysis
#federalreserve #newsupdate #interestrates #inflation
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.