Ascending triangle pattern in USD/INR
Forming an overall bias is really important when you want to participate in any asset class.
As most of us are equity participants, it is crucial to know the influencing factors for the equity market.
Dollar is one of the most important indicator of equity movement as most of the trades happen through Dollar and it is the biggest currency in the world.
At a high level, we have have a notion that when dollar goes high, Indian equity goes down.
In this chart, I am sharing a bullish pattern on the USD/INR chart which is not a good sign for the equity market.
If the Dollar breaks out above this triangle, it can lead to some clouds in the equity.
Keep an eye!
As most of us are equity participants, it is crucial to know the influencing factors for the equity market.
Dollar is one of the most important indicator of equity movement as most of the trades happen through Dollar and it is the biggest currency in the world.
At a high level, we have have a notion that when dollar goes high, Indian equity goes down.
In this chart, I am sharing a bullish pattern on the USD/INR chart which is not a good sign for the equity market.
If the Dollar breaks out above this triangle, it can lead to some clouds in the equity.
Keep an eye!