FX_IDC:USDINR
Looking at the daily chart of USD/INR we can see a breakout at 86.68 level. And now there is a retracement from 87.95 levels. The question is whether it will make a new high or not, should we remain bullish on USD?
Let's refer the history to find a high probability answer.
From Oct'18 prices consolidation for 1.5 years. During this period...
NSE:NIFTY has corrected by 3500 pts (13.3%) from its high of 26,277 in Sep’24.
In post COVID era this is the 2nd biggest correction in terms of % and biggest in points.
Let us use Elliot wave theory and the Fibonacci retracement tool
Wave Time Start to End Points (percentage from top)
Wave (X) ( (i) to (ii)...
