24 Aug 2020 ● 07:24 AM
USDINR has failed to breakout above 75.15, the top end of the triangle pattern. This means that the triangle itself might be the 'x' wave that I was expecting and we may not go higher towards the top trendline near 75.75 anymore. If an X wave is complete then the next move should be down below the lower blue line at 74.61. In other words if we break 74.61 the trend down may accelerate towards 74.10 near the trendline of all the previous lows of the last 4 months.