The USD/INR has been able to sustain the higher values it established in the middle of last week and speculators will continue to be tested.

The Indian Rupee continues to lose ground to the USD in Forex and as of this morning a value of 79.8700 is being demonstrated.  Speculative conditions are ripe within the USD/INR currency pair as higher price action is likely causing technical traders to wonder if the 80.0000 mark is going to be challenged again. In the middle of July the USD/INR was able to trade above the 80.0000 reaching an apex of nearly 80.2200 temporarily on the 14^th of the month.

Even if the USD/INR is overbought it could go higher via Speculative Conditions

The middle of last week shook the USD/INR from a seemingly polite trading range, in which reversals lower were starting to signal evidence that the long term bullish streak from the forex pair might be slowing.  The short term trend however was proven wrong and nervous sentiment emerged again within financial institutions as whispers about more hawkish U.S Federal Reserve policy was discussed.

The publication of the Fed’s Meeting Minutes report last week indicated there is a disagreement within the U.S central bank regarding future steps to combat inflation. Troubling for traders is the fact the USD/INR is now within sight of all-time highs again, and that more fundamental news sparks will fly later this week.

Jackson Hole Talks and Preliminary GDP from U.S will affect the USD/INR this Week

The major central banks of the world this week will be getting together in Jackson Hole, Wyoming which is a symposium for financial heavyweights to discuss monetary policy. On Friday Fed Chairman Powell will speak. And before this, Thursday, the U.S will publish Preliminary GDP data. In other words traders of the USD/INR need to expect more volatility.

• If the 17.9000 mark is toppled and higher value is sustained the USD/INR could again challenge the 18.0000 in the near term.
• Behavioral sentiment is likely to remain nervous because of volatility which is certain to be caused because of policy speeches and economic data from the U.S later this week.

Traders of the USD/INR may be tempted to believe the forex pair has climbed too high and may attempt to sell. However, reversals lower in the short term will likely remain limited. Quick hitting trades are advised which are not overly ambitious today and tomorrow.

A vast sea of volatility will be demonstrated in the USD/INR later this week and risk management will be essential. The trend higher in the USD/INR may be hard to wager on for contrarians, but if support levels are tested in the short term looking for small moves upwards could prove worthwhile.

USD/INR Short Term Outlook:

Current Resistance: 79.9050

Current Support: 79.8300

High Target: 80.0300

Low Target: 79.7100

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SOL/USD is within sight of highs recently made, but the incremental gains attained by Solana remain under the shadow of speculative unease.

SOL/USD is trading above 56.0000 as of this morning, and Solana was able to trade above 57.0000 earlier in the day. On the 12^th of May during the cryptocurrency crash, SOL/USD went below the 37.0000 ratio. To put things into even better volatile speculative perspective, SOL/USD was trading above 143.0000 on the 2^nd of April. Thus, as of this morning Solana is trading roughly at 2/3’s less than its value one and a half month ago.

However, since hitting the low water mark during the broad cryptocurrency market bedlam displayed last week, SOL/USD has produced a rather polite incremental climb higher. Two days ago Solana traded above the 59.0000 price level, and for the moment this mark seems to be a rather high target for speculators who may be interested in trying to aim for this ratio as a take profit goal. However, while the broad cryptocurrency market remains nervous, traders will likely remain rather jittery about pursuing price ambitions which may seem too far away.

SOL/USD has the capability of trading fast and changes of value by one USD can develop fast.  Under the present market conditions speculators are urged to use entry price orders to pursue their wagers. While trading for the moment has the feel of a rather tranquil setting, this may prove to be rather temporary.

The recent climb of SOL/USD in the past few days may also lead to skeptics believing that Solana has produced a little too much optimism among buyers. If the level of 55.5500 begins to see a challenge below, traders who want to wager on selling positions may believe the 55.0000 price is a legitimate target. If this ratio falters and the price of SOL/USD begins to demonstrate velocity within a bearish trend, technical traders may believe the 51.6000 level is a support ratio which could be tested.

The fast trading conditions which overtook SOL/USD have become more tranquil for the moment.  However traders should not be lulled to sleep by the quiet atmosphere currently being seen. If the broad cryptocurrency market begins to produce nervous selling again, SOL/USD could certainly see lower prices challenged quickly. In the short term it appears SOL/USD may be traversing near resistance levels which could prove to be durable, and short sellers may want to wager on downside motion.

Solana Short-Term Outlook

Current Resistance: 57.7800

Current Support: 55.1300

High Target: 60.3200

Low Target: 49.7400