USDINR is range bound right now but is on the verge of a breakout. Might see a good move if either side is broken.
RSI downtrend line was tested a couple of times but is still intact since March. Can go Long if it's broken.
Previously i have posted a view of trend termination near 74.50 , it seems trend is about to extend little bit more than expectation ,
I am looking for one more side ways consolidation before heading for 73.50 , One can look to trade in the range bond or wait for Last correction to complete
for Position trade for Next up side move till 82.50 to 84.00
USD/INR to take decisive move to hold or break the key support level of 74.48 on or before Aug 10. Fundamentals indicate break of support level and to touch the next even stronger support at 73.54.
Considering the factors like India's recent trade surplus, US elections and Dollar index in weak zone, if the level of 73.54 is broken, then the next support is at...
Note: This is for educational purpose only.
Long term trend is bullish. Seems like bullish in short term trend. But unless the channel is broken, can't determine a clear accumulation or distribution phase.
In the daily time frame, USDINR had been forming the Symmetrical Triangle Pattern from mid-March. The prices started the southward journey after witnessing a pullback from the upper trendline. Recently, the pair managed to piece the lower trendline and likely to extend the southward journey. Further, the dots of the Parabolic SAR indicator are above the prices,...