AbhishekHSinghCMT

USDINR- Key Zones 67.15- 66.20(Another Clue for Indian Markets)

Long
FX_IDC:USDINR   U.S. Dollar / Indian Rupee
5
It's a complex correction W-X-Y (Where Y is taking the form of a triangle) in Dollar Rupee- likely giving us 2 clues -which I have my eyes set on.

Either it breaks 66.20- Key level & 65.95 critical levels on a daily closing basis, then I will really think that Indian Markets are bullish .

Else
If dollar rupee breaks on the upside, above 67.15 -then likely suggesting one leg for dollar rupee is still pending as suggested in my long term analysis as well shown below- which indicates that the Indian Markets likely could bounce on account of U.S. Elections but as soon as USDINR protecting downside 66.20 initially & goes above 67.15 should give us a major clue that the Indian Markets already had put a top@8969.

Invalidation Levels
If Nifty goes above 8969- in the bounce back, which is expected to give the bulls some hope & Dollar Rupee will go below 66.20 & 65.95 on a daily closing basis.

Impatient About Acche Din
Comment: 07:15 Hrs 7th Nov2016

Hilary gets clean chit from FBI- Dow Futures 200+ SGX Nifty- 70+

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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