tRex88

USDINR day chart analysis - Parallel channel

OANDA:USDINR   U.S. Dollar / Indian Rupee
USDINR day chart analysis - Parallel channel
Comment: Channel broken on Aug 2. We can expect USDINR to move higher.
will the rupee get stronger or weaker ?
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tRex88 deepakshamdasani
@deepakshamdasani, long term trend is bullish in USDINR (suggesting weakness in Rupees). 67 is going to be a crucial level. If 67 is broken we can expect Rupee to gain further strength.
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what does it mean ?
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tRex88 deepakshamdasani
@deepakshamdasani, it means USDINR has been trading within a parallel channel. Now its upto a trader as to how to trade based on this pattern.
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