USDINR: Fresh longs could come-in here

usdinr

I like the way the USD/INR is forming a base of sorts at its 100-DMA at 64.788. Ahead of tomorrow’s FOMC meeting and with a backdrop of China’s rate cut, the chart tells me to go long on USD/INR for a target of 65.22 and then 65.70 (200-DMA). stops are seen below 100-DMA at 64.788

Advertisements

UK GDP and Long GBP/CHF

UK Q3 GDP is due for release in ten minutes. Going by the charts, I believe we are in for a positive surprise. I like the GBP/CHF pair heading into the event.

gbpchf

I prefer adding a long in GBP/CHF. Check out how the pair has enjoyed a bullish break on the daily chart yesterday.

Gold at USD 1240/Oz by year end

  • Say Bye Bye to Fed rate hike talk! I dont see it happening in December, not in March and probably not in 2016.
  • And by the way, a 10 basis point or 5 basis point hike not really a hike !
  • Coming to the point – Gold could rally to USD 1240 by year end. December rate hike is out of question

Gold monthly chart

gold monthly

If I look at the monthly chart, I get the feeling the metal is on its way to kiss the channel resistance around USD 1240/Oz by December end.

October close is just 4 days away. Friday’s closing above 10-month SMA at 1173 would add to my bullish view.

I anyways believe gold is gold in non USD terms 🙂