Amidst this negative background the USDINR is bound to see a periodic thrust to the upside. The strong upward charge seen in March may have hit resistance zone around 78 but then the potential to move towards that levels still exist. The resistance zone is a confluence of a Fibonacci extension as well as modified Upper channel of the Pitchfork that shall aim to...
The price action has so far only been indicating straight bullish candles. Will the red Trendline have any impact? .. is what we need to see.
USD Inr has given good breakout. All levels given in chart. I am a simple person who follows simple things without complication. This call is only for educational purpose. Awaiting for your comments. Correct me if I am wrong.
elliott wave of usdollar indian rupees - daily chart
Look t the momemtum of moving upward. Expeccted downward move from approx. 13 APRL 2020 . The speed or momemutm which these currencies are going up is expected to fall at the same speed.
Look here two scenarios, 1) rounded downside move toward the main channel OR 2) without breaking narrow channel with up side move with volume rising. This is really confusing for trade so, still, avoid trading without any breakdown.
I have clearly mentioned that 70% chance to up break-out . Exactly happened What I had written but... This break-out can still continue to up move... just wait till.
No projections. Will observe further and post.