Dollar Index & Rupee - Explosive Move from 88 lows- What Next?
Wishing you happy trading week ahead
Important - 88.00 to 88.25
Have discussed about following instruments
- Dollar Index
India Rupee Last Idea
AUDUSD in the rupee idea
When I wrote or published my first piece on dollar index in year 2016 - I was pretty sure we are going to have or see a stronger dollar in days & years to come ahead.
We adjusted our count & moved wave 4 bottom at 88.25 lows assuming to be a larger flat in shape suggesting us that we have stronger dollar to come next as compared to wave 4 triangle earlier.
Explosive move from 88.25 lows turned everything in favour of dollar bulls & gave the first clue of a stronger dollar which is yet not finished.
Going ahead – It could travel to 105 & more possibly 110 levels next on upside
Holding 88.25 as most important low it can move upside & breach of recent low -88.25 could violate all counts & views suggested ahead.
Short Term Strategy
Push from 88 lows to 97 Highs recently is impulsive in nature where 93.00-93.50 could be next for a higher push upside.
Long Term Strategy
Equality Target of Wave 3 distance which comes to 110 could be plausible target on upside & minimum distance of 103-105 zone would be next step ahead.
Do not take this as suggestion to buy /sell & consult your financial advisor for creating any position/positions in the market.
Dollar Rupee Updates - Getting Most Important Clue from Inverse AUDUSD
India Rupee as suggested last in the comments to a colleague -not to jump at 72.50's -wait for correction in dollar rupee to 68.50-69.50 - happy to see that -Dollar Rupee had a fall from 73 Highs to 71.80
Next Support Comes at 70.50-70.75 zone -Going below 70.50 we shall look for 69.50-69.75 zone