USDINR Sell opportunity to the 1D MA50
The USDINR pair made a direct hit on our 82.700 Target, which we set on our last analysis (January 10, see chart below):
Right now we see the price pulling back within a Channel Down. This is a standard pattern within the long-term Rising Wedge pattern, which as you see out of 7 Bearish Legs all broke below the 1D MA50 (blue trend-line) and only 1 managed to make just a hit-and-rebound.
As a result we are going for a moderate sell Target at 83.100 and then we will reverse to buying, targeting Resistance 1 at 83.700.
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Right now we see the price pulling back within a Channel Down. This is a standard pattern within the long-term Rising Wedge pattern, which as you see out of 7 Bearish Legs all broke below the 1D MA50 (blue trend-line) and only 1 managed to make just a hit-and-rebound.
As a result we are going for a moderate sell Target at 83.100 and then we will reverse to buying, targeting Resistance 1 at 83.700.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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