USDINR-evening star pattern at 4 hour

Jun 10, 2022

USDINR

Indian Rupee at all-time low which can mean:

1. RBI will intervene next week to make the bull run slow
2. Evening star at 4 hours look promising. One should watch the next 4 hourly candle.
3. The previous high, 77.88 can be a resistance for the next consolidation. The consolidation is possible as the Dollar is at all-time high and RBI might intervene.

Jun 10, 2022

Note

4. RSI also above 70, which means reversal is possible.

Jun 10, 2022

Note

Still taking naked positions can be risky; hedging will be a great idea.