FX_IDC:USDINR
Analysis on 12th December 2022
>Wave Count - Possibly Beginning of Correction Wave C on bigger cycle.
>Strength - Between the both the tops shown in chart there is a Berish Continuous Divergence.
USDINR possible and aligned Elliott wave structure of multi time frames from monthly to hourly.
Monthly chart
Weekly chart
Daily chart
4 Hourly chart
1 Hourly chart
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USDINR does not seem to come down with global inflation and Russia Ukraine war going on. With Fed Chair Powel testimony on 22-06-2022, he has clearly said that recession should not be provoked. It means that though inflation in US is on higher side Fed is highly unlikely to increase interest rate by 100 bps. According to a poll by Reuters experts see a similar...
Interesting Price Action and charts pattern are being observed in USD/INR currency pairs.
1. The Cup and Handle Formation.
Cup formation can continue or Handle pattern can be formed and price can shoot up. As global situations are pacifying. We believe, rupee
should get bit stronger.
2. All time high Resistance
We...
usdinr
as per chart
usd getting power
while inr loosing the same
the pair given a breakout
thus shorting inr and buying usd as per above will work
usd may move beyong 75.5 zone as well
while support at 73 areas
Long...
....
INR will be weak in the coming days.... Target- 78 ....
....
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Thank You,
@VishwajeetSharma
The first leg of irregular correction has started to appear from 77.01. Now a trading opportunity is visible on price charts which can drag prices lower to:
i) 74 being 100% extension of wave A in an ideal case
ii) 73.22 being 138.2% extension of wave A in most cases
iii ) 72.70 being 161.8% extension of wave A on rare occasion
A break below 75.40 would provide...
