USD INR : WILL IT BREAK THE RESISTANCES THIS TIME

I am sharing my view on USD INR Movement as of now and predicted the two possible moves on the chart. The chart is moving in a range since 14 Feb 2023 and shrinking all the way to form an ascending triangle. I have tried to wind up its movement as shown in the chart. As USDINR has already tested the resistance level 1, 5 times, and thus the probability of breaking out is high, with support of two Moving Averages below the CMP, and ascending support line. However , it may encounter another rejection at resistance level 2 again , as it has not been tested much.

Please share your views !

Comment:

HIGH 82.922
CMP : 82.835

If we carefully see, the volume is very low currently as compared to the one we had during day sessions. These are operators manipulating the price. Thus it may Come down and take the new support , be it 82.76 or 82.66 . Thus those who can book profit now , book . Or wait for Monday first session. On Monday Exit with your profit and re-enter with hammer or Green Engulfing candle at new support, Which could be I believe 82.76 or 82.66.

Also , India's FOREX Reserve is at 11 Week Low. Hence we will see Rupee depreciating more, and USDINR Crossing 86 in March.

Please boost , if you like my idea.

Trade active:

Bullish Traders , just pray that It so not touch 83.04 tonight, if you all wish it to cross the level of 83.26 on Monday. Strength must be exhausted and if it touches previous high 83.04 today, it would be a week try and it will collapse again. Best thing would be it rest today with support at 82.84 and on Monday it comes back again with a new strength and crosses the two resistances comfortable with ease.