FxWirePro: GBP/AUD uptrend loses steam, remains on bullish path 
Buy the Dip: Gold Holds Strong at $3980, Targets $4150 
The government is ‘doubling down’ on its social media ban. But bigger penalties for platforms aren’t enough 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Despite its best efforts, Iran won’t be able to toll the Strait of Hormuz. Here’s why 
Should I take zinc or eat oysters to ward off colds, boost my immune system or improve fertility? 
FxWirePro: USD/CAD steadies around 1.4200 level , retains bid tone 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
FxWirePro: GBP/NZD remains bullish as rally continues 
Gold Flashes Bullish Signals Amidst Shifting Technical Landscape 
Bitcoin Tumbles Below $60,000 Amidst Persistent ETF Outflows 
FxWirePro: NZD/USD snaps eight-day losing streak 
FxWirePro: NZD/USD recovers slightly but bearish outlook persist 
FxWirePro: USD/ZAR changes short term trend from neutral to bearish 
The breakdown in USDINR continues with a renewed trending bias.
The break of the 67/66.55 support zone (Jan breakout/July TL) highlights the importance of Fibonacci retracement violations confirming a deeper corrective phase.
After break-away, run away gap at 65.2700 levels (refer daily charts): Gap down opening candle gravestone doji & shooting star candles, the current prices consistently well below DMAs, more dips upto 63.80 on cards.
The pair has edged lower at 65.0350 during European session sensing more weakness ahead and ended with a stern bearish candle with a big real body.
ON a broader perspective, the break out below 65.1470 (38.2% Fibonacci retracement levels) has indicated that more pullback is likely and bears are likely to resume their primary downtrend.
The current prices on this timeframe have drifted below 7&21-EMAs.
Most importantly, both leading and lagging oscillators are signaling more selling pressures with their bearish convergence to the ongoing price dips. Thereby, it seems that major trend of this pair turning into reversal phase.
Option Trade Tips:
USDINR vol-adjusted carry has jumped back to pre-tapering levels.
USDINR vol-adjusted carry has jumped back to pre-tapering levels.
So, dubious bulls on hedging grounds, earn carry through 1M USD put spreads.
Enter USDINR put spreads that offer pre-taper tantrum levels of vol-adjusted carry.
Earn carry through 2M USD put spreads.
