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USDINR

24 Aug 2020 ‚óŹ 01:15 PM

USDINR fell to the 74.10 support in one day itself, that was not what I expected but what now. We closed at support and the 40 week average is at 74.08. So for this week if we close below 74.08 it signals that we are setting up for a move back to the lower end of the long term wedge pattern near the blue trendline at 72.40. This would also push the monthly momentum indicators back into sell mode by next monday. The lower end of the triangle at 74.50 that was broken is now the resistnace and the break marks start of wave z down in this leg. [triple zig-zag]

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