USDINR is moving in a wedge.
Longs can be added on closing basis after break of upper line.
SHORTS can be added on closing basis after break of lower line.
Not advisable to take positions on inside the wedge.
Will update more on any significant moves.
Date: 10/09/2019
This is the 3H chart.
Your positions are your own sound decisions. I am not responsible for...
Sell At 71.4725 Stoplss 72.900
Target 70
Reasons for Trade-1.Price formed bearish candlstick pattern near daily resistance
2.Daily Trend is down
3.Price reacted from important fibo level of 61.8%
4.Risk Reward 1;2
USDINR broke out all time support level 68.32 and enters into bearish teritoy and remain bearish from Jun 17/2019 high 69.95. current price is 68.23 following this trend we can expect futher down to 67.86 and 67.50 in a short period.
Today's Gaped down usdinr and other 3 pairs eurinr, jpyinr, gbpinr gaped up. following J. powell cuts fed rate again and other...
Darn!! Consolidation bull flag has broken to up.
After three days of consolidation, now USDINR shoot up if Crude Oil supports credibly we're going to see 71.50 near term.
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