💹️ USDINR: Multiple 1.618 Levels Align
USDINR has reached an important stage in its long-term Elliott Wave structure, with multiple third-wave degrees approaching their respective 1.618 Fibonacci projection levels.
On the monthly chart, the larger structure is being interpreted as a developing Wave III from the 39.01 low.
The previous major advance from 7.19 to 49.16 is labeled Wave I, followed by a corrective Wave II that ended near 39.01. From that low, USDINR has been advancing in what appears to be a powerful third-wave structure.
🌊 3rd-Wave 1.618 Confluence Zone
The significance is not that any one Fibonacci level must stop the advance. Rather, several Elliott degrees are approaching important 1.618 relationships around the same region.
USDINR is currently around 95.83 on the chart and is approaching the first major Fibonacci cluster.
📌 TP Levels
Share your view in the comments below! 👇
USDINR has reached an important stage in its long-term Elliott Wave structure, with multiple third-wave degrees approaching their respective 1.618 Fibonacci projection levels.On the monthly chart, the larger structure is being interpreted as a developing Wave III from the 39.01 low.
The previous major advance from 7.19 to 49.16 is labeled Wave I, followed by a corrective Wave II that ended near 39.01. From that low, USDINR has been advancing in what appears to be a powerful third-wave structure.
🌊 3rd-Wave 1.618 Confluence Zone
The significance is not that any one Fibonacci level must stop the advance. Rather, several Elliott degrees are approaching important 1.618 relationships around the same region.
USDINR is currently around 95.83 on the chart and is approaching the first major Fibonacci cluster.
📌 TP Levels
- 98.3556 – 99.3278
- 101.1531
- 106.9175
Share your view in the comments below! 👇
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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.
Related publications
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.