USD/INR - Triangle pattern breakout above 83 levels
USD/INR has formed a triangle pattern.
(although the last leg of triangle seems incomplete, but it is likely to happen; And we will have to follow what price says on the charts :) )
82.9 - 83 has been resistance zone for few days now (Hrly candle close above 83 will confirm the upside move).
Above 83, the move can be quite fast and target is coming to 85+ (in 1 wks time).
SL: daily candle close below 82.8
(although the last leg of triangle seems incomplete, but it is likely to happen; And we will have to follow what price says on the charts :) )
82.9 - 83 has been resistance zone for few days now (Hrly candle close above 83 will confirm the upside move).
Above 83, the move can be quite fast and target is coming to 85+ (in 1 wks time).
SL: daily candle close below 82.8
Trade active
Nearing resistance level.Any breakout above 82.99 may give a sharp momentum upside.
Trade active
Looks like this time it will breakout above 82.99, fingers crossed :)Trade active
USDINR is above 83, looks like break out. If this sustains above 83 levels for a day then we may see sharp up-move towards 84 and then 85. Good to watch 83 or 84 call options for good returns :)
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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.