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USDINR

30 Aug 2020 ‚óŹ 12:02 PM

USDINR closed far below the 40 wek average as the first major confirmation of a trend break. The next thing to watch out for is a fall below 72.40. At that point prices will overlap with the previous high and makie the entire advance from the 2019 bottom appear 3 waves. That would fit my theory that the move was wave E of a long term ending diagonal. At that level, 72.40, also is the rising trendling from the Jan 2018 bottom and a close below it would break that trendline as well.

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