joel-vg

BIG PICTURE OF USDINR (ELLIOTT WAVE)

FX_IDC:USDINR   U.S. Dollar / Indian Rupee
395 6 4
Elliott wave chart of us $ inr             (weekly chart)

the big picture

we are within the wave 3
Comment: this present down trend should not go below 57.2
(wave 4 cannot go into the territory of wave 1- as per the elliott wave)
Comment: within the downtrend (wave C) , it appears wave i,ii,iii is over.
very soon (this week) we will be in *wave 4*
*wave 4* - i expect a 38 % retracement of wave 3 which is projected to go to *65.7*
Comment: i expect the final target for wave C to be 62.2

Please do criticize if you have any other views

all views are welcome
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Comment: to conclude this down wave should be concluded by 62.5
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fully agreed ichimoku is giving the same target
Reply
joel-vg sandy
@sandy, thanks sandy !.
Reply
Can it be a Failed 5th wave happened already
Reply
joel-vg amitavasaha
@amitavasaha,

when wave ii was a simple correction , wave iv , we should expect a complex correction ,

so - i do not think it as a failed 5 th wave
Reply
@joel-vg, Please elaborate more on this .. I am also thinking that it might be a failed 5th Wave.
Reply
joel-vg simantgoyal
@simantgoyal,

please check the above updated charts and comment on it
Reply
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