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INR

Weaker dollarA "long legged Doji" is a fancy name and shows indecision in the market. Since it formed after a strong bullish candle, the dollar might grow weaker against the rupee in a short term as RSI is over bought or stay range bound. This is a speculation because market may take move in any direction. Most analysts would want to watch the next few candles to check the direction of the market. These are some of the price predictions for high and low (readers discretion advised) 21.06 Monday 75.24 73.02 22.06 Tuesday 76.15 73.89 23.06 Wedn 76.06 73.82 24.06 Thursday 76.24 73.98 25.06 Friday 76.18 73.92
by daerontrading
USD INR - INR to enter into Stronger Regime with volatilityDated 04/02/2021 17.48 hours PERCEPTION INR TO GET INTO STRONGER REGIME USD INR has good support at 73-72.63. The level of 73 it has held well since September 20. Resistance is at 73.30. The chart is is making lower tops since November 20. Overall the major peak for USD INR has been in March 20 when equities world over crashed. The peak in March 20 was formed at 77.416. Most the time price were around 76.38. All the above formation is for Wave (d) and spike for Wave (e) Long Term Price Analysis year 2008 A long term (a),(b) and (c) structure is visible. Wave (c), unfolded in a,c,d,e Wave d appears to be end now at or around 73-72.65. A breakout above 73.30 can set a rise to for Wave e to be around 74.528 to end Wave (c). If that happen then expect USD INR for deeper correction which will mean a strong INR regime. If current support of 73-72.65 is violated with acceleration on downside then expect 23.6% retracement 68.40. In that case Wave (c) ended at peak 77.416. Weaker INR regime may not be long last one now. The time is for stronger INR regime in time to come over few years. One spike of weakness for INR can be seen before a strong INR begin to unfold.
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by hitendravasudeo