Jahir_Jack

Darn!! Consolidation bull flag has broken to up

OANDA:USDINR   U.S. Dollar / Indian Rupee
Darn!! Consolidation bull flag has broken to up.
After three days of consolidation, now USDINR shoot up if Crude Oil supports credibly we're going to see 71.50 near term.
Comment: I just noticed. if anyone confused about the price action and the strength of sudden uptrend just check out weekly candle and monthly candle. you will understand that such a huge movement can't be ignored as to why this kola beri D happening? something we won't get it but riding the rally as market suggest is most beneficial I guess. 7th Jan Volume up+ price up from lowest double bottom. 8th Jan Volume up + price up. after three days of market indecision 14th Jan Volume up+ price up. again with some historical data released price spiked sudden.
One thing to notice is that Crude Oil hovering near it's first pull back after a big rally but USDINR seem not caring that much. Caution should be noted if crude oil not levels up in accordance.
Comment: It's look like uptrend is over after hitting 71.50 resistance. it broken crucial support of 71.15, 71.11
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