USDINR - Mother Child Candlestick or Bullish Harami Above 64.70

Apr 10, 2017

There is a mother child candlestick pattern or bullish harami. Once it starts moving above 64.70 & holds above that likely it could put end to INR appreciation for sometime & dollar could start moving up against rupee.

We shall look for 65.50-65.70 as the possible target zone- which I will have to come back to see whether that projection will be met. First, we need a move above 64.70 & it should hold above that level.

Fall was too impulsive from 68.35 so Indian Markets jumped like a rocket.

Previous Update- Can Rupee Capsule power Nifty & BankNifty

Apr 18, 2017

Trade closed manually

18th April2017

Closing this post at 64.57 Price