Hello & welcome to this analysis
USDINR topped out on 10th Feb @ 88 to see a sharp reversal all the way till 4th April when it formed a bullish Harmonic Deep Crab pattern @ 85 that too lead to a more sharper bounce back till 9th April when it formed a bearish Harmonic Reciprocal ABCD pattern near the top end of the slanting channel.
From there we have witnessed yet another steep downward move which is currently resting at the lower end of the slanting channel. Failure to hold 84.45 - 84.35 could lead to a further downward move till 83.70 where it would attempt to form a bullish Harmonic ABCD pattern that could coincide with DXY bullish harmonic pattern near 95.
So if you have exposure to currency for any reasons whatsoever - overseas trips, college fees, business, commodities trading, etc - this might be of help to you.
Disclaimer - Not a trading advise, kindly do your study carefully before taking a decision
USDINR topped out on 10th Feb @ 88 to see a sharp reversal all the way till 4th April when it formed a bullish Harmonic Deep Crab pattern @ 85 that too lead to a more sharper bounce back till 9th April when it formed a bearish Harmonic Reciprocal ABCD pattern near the top end of the slanting channel.
From there we have witnessed yet another steep downward move which is currently resting at the lower end of the slanting channel. Failure to hold 84.45 - 84.35 could lead to a further downward move till 83.70 where it would attempt to form a bullish Harmonic ABCD pattern that could coincide with DXY bullish harmonic pattern near 95.
So if you have exposure to currency for any reasons whatsoever - overseas trips, college fees, business, commodities trading, etc - this might be of help to you.
Disclaimer - Not a trading advise, kindly do your study carefully before taking a decision
Trade closed: target reached
83.70 achieved now at a bullish harmonic abcd
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.