(click on the charts for better resolution)
Chart shown is USDINR EOD charts since Sep,2010 to till date along with Ichimoku indicator is added as a overlay with base parameters 3,12,18.
Ichimoku Cloud strategy
Buy if candle closes above the cloud with stoploss as the bottom of the cloud(Support)
Sell if the candle closes below the cloud. with stoploss as the top of the cloud(Resistance)
Applying the rules to the chart the Buy and Sell signals are drawn over the chart and more recently you could infer a sell signal on the EOD charts with cloud trailing resistance comes near Rs45-45.10 zone. Chances of more possibilites of rupee strengthening against dollar and also the possibilites of FII inflow into the country.
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