🧠 Wave Structure
USDINR is currently progressing inside a clean Elliott Wave 5 advance.
Price remains strongly supported inside a rising parallel channel and continues respecting the trend structure.
Wave progression so far:
Wave 1 – Completed near ₹88.80
Wave 2 – Corrective low near ₹87.60
Wave 3 – Impulsive breakout towards ₹90.10
Wave 4 – Healthy retracement holding channel mid-line near ₹89.20
Wave 5 in progress, moving toward target zone
🎯 Wave 5 Target Zones
Target Zone Levels
Primary Wave-5 Target Zone ₹91.30 – ₹92.40
Extended Wave-5 Targets ₹94.55 / ₹96.91 / ₹98.43
Long-Term Channel Top Projection ₹96.50 – ₹98.43
📍 Support Levels
₹90.10 / ₹89.20 – Immediate support
₹87.60 / ₹85.20 – Major trend support
Trend remains bullish above: ₹89.20
📊 RSI
RSI showing bullish structure and remains above support band
No major bearish divergence yet → trend continuation likely
🔥 Trade Plan (Educational Purpose Only)
Long positions valid above ₹90.75
Stop-loss: ₹89.80
Target-1: ₹91.30
Target-2: ₹92.40
Extended: ₹94.50 / ₹96.90 / ₹98.40
Bearish invalidation: Close below ₹89.20
💡 Summary
USDINR is in a clean Wave-5 breakout structure, supported by strong channel momentum.
Price is expected to climb toward 91.30 – 92.40 first, with potential extension toward 96.50 – 98.40 if global USD strength continues and domestic liquidity supports.
USDINR is currently progressing inside a clean Elliott Wave 5 advance.
Price remains strongly supported inside a rising parallel channel and continues respecting the trend structure.
Wave progression so far:
Wave 1 – Completed near ₹88.80
Wave 2 – Corrective low near ₹87.60
Wave 3 – Impulsive breakout towards ₹90.10
Wave 4 – Healthy retracement holding channel mid-line near ₹89.20
Wave 5 in progress, moving toward target zone
🎯 Wave 5 Target Zones
Target Zone Levels
Primary Wave-5 Target Zone ₹91.30 – ₹92.40
Extended Wave-5 Targets ₹94.55 / ₹96.91 / ₹98.43
Long-Term Channel Top Projection ₹96.50 – ₹98.43
📍 Support Levels
₹90.10 / ₹89.20 – Immediate support
₹87.60 / ₹85.20 – Major trend support
Trend remains bullish above: ₹89.20
📊 RSI
RSI showing bullish structure and remains above support band
No major bearish divergence yet → trend continuation likely
🔥 Trade Plan (Educational Purpose Only)
Long positions valid above ₹90.75
Stop-loss: ₹89.80
Target-1: ₹91.30
Target-2: ₹92.40
Extended: ₹94.50 / ₹96.90 / ₹98.40
Bearish invalidation: Close below ₹89.20
💡 Summary
USDINR is in a clean Wave-5 breakout structure, supported by strong channel momentum.
Price is expected to climb toward 91.30 – 92.40 first, with potential extension toward 96.50 – 98.40 if global USD strength continues and domestic liquidity supports.
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.
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.