📌 USD/INR Weekly Chart – Double Top Analysis
After a sustained uptrend, USD/INR is showing potential signs of a reversal with a well-defined Double Top pattern on the weekly timeframe.
✅ Pattern: Double Top (Weekly)
✅ Key Resistance: ~87.00 (tops)
✅ Breakdown Level: 83.76 (watch for confirmed weekly close below)
✅ Target Projection: ~80.76 (based on measured move)
✅ Stop-loss: ~84.70 (ATR-based level)
📉 Bias: Bearish on confirmed weekly close below 83.76 with increased selling volume.
🔎 Volume Note: Look for higher volume on breakdown to confirm selling pressure and pattern validity.
✅ Commentary:
This classic double top setup suggests potential trend exhaustion after an extended move up. A weekly close below the 83.76 neckline with strong volume would strengthen the bearish signal, targeting ~80.76 in the medium term. ATR-based stop-loss placement provides tactical risk management above recent support
After a sustained uptrend, USD/INR is showing potential signs of a reversal with a well-defined Double Top pattern on the weekly timeframe.
✅ Pattern: Double Top (Weekly)
✅ Key Resistance: ~87.00 (tops)
✅ Breakdown Level: 83.76 (watch for confirmed weekly close below)
✅ Target Projection: ~80.76 (based on measured move)
✅ Stop-loss: ~84.70 (ATR-based level)
📉 Bias: Bearish on confirmed weekly close below 83.76 with increased selling volume.
🔎 Volume Note: Look for higher volume on breakdown to confirm selling pressure and pattern validity.
✅ Commentary:
This classic double top setup suggests potential trend exhaustion after an extended move up. A weekly close below the 83.76 neckline with strong volume would strengthen the bearish signal, targeting ~80.76 in the medium term. ATR-based stop-loss placement provides tactical risk management above recent support
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.