USDINR rally ahead, consolidation seems complete. #USDINR
USDINR has been moving sideways since last Oct . It has shown no net movement in the last whole year.
The sideways move has taken the shape of an triangle and seems to have been completed . The latest upmove from the wave marked E is the first leg of the new rally. This should take the price to 84.50. A higher target is 86.30 but that will depend on the structure we see when we hit 84.50.
Interesting to note that wave C of the triangle has resolved as a triangle as well- a triangle within a triangle
This pattern will be invalid if we go below 81.65
The sideways move has taken the shape of an triangle and seems to have been completed . The latest upmove from the wave marked E is the first leg of the new rally. This should take the price to 84.50. A higher target is 86.30 but that will depend on the structure we see when we hit 84.50.
Interesting to note that wave C of the triangle has resolved as a triangle as well- a triangle within a triangle
This pattern will be invalid if we go below 81.65
Michael @ SolomonsView
Twitter - @SolomonsView
Twitter - @SolomonsView