Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
9 Jan 2020

USD/INR Technical Analysis: Probes three-week winning streak, heavy below longer-term resistance trendline

  • USD/INR awaits fresh clues after Wednesday’s pullback from key resistance.
  • 38.2% Fibonacci retracement, ascending trend line since July in focus.
  • Multiple barriers on the upside before 73.00 round-figure.

USD/INR stays modestly changed to 71.48 amid the initial Indian session on Thursday. The pair dropped towards retesting the weekly low of 71.35, flashed yesterday, as taking rounds to 71.38 at the open. However, mild recoveries could be spotted after a heavy fall the previous.

Read: Moody’s: India's fiscal flexibility hindered by high debt burden, weak debt affordability

Even so, the pair stays on the back foot while reversing from a downward sloping trend line since mid-December 2018, also observing the declines below 50% Fibonacci retracement level of October 2018 to July 2019 fall.

With this, USD/INR prices are likely to keep the losses while targeting 71.00 and 38.2% Fibonacci retracement level of 70.80. However, an upward sloping trend line since July 2019, near 70.72, can cure the pair’s further weakness ahead of 70.00 psychological magnet.

On the upside, 72.00 can offer immediate resistance ahead of 61.8% Fibonacci retracement, at 72.40, also prior to challenging the multi-month-old resistance line that currency stays near 72.57.

In a case where buyers manage to take-out the 72.57 mark, December 2018 top surrounding 72.82 will hold the keys to pair’s rise towards 73.00.

USD/INR weekly chart

Trend: Pullback expected

 

Jan 9, 2020

Australia: A surprise surge in the trade surplus – ANZ

ANZ analysts point out that Australia’s trade surplus surged to AUD5.8bn in November, well above their and market expectations. Key Quotes “The rise i
Read more Previous
Jan 9, 2020

Germany: Industrial production likely to show more strength in November – TDS

Analysts at TD Securities suggest that after declines in Sept-Oct, their early model looks for Germany IP to show a bit more strength in November with
Read more Next