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Rupee

USD/INR: Uptrend about to resume?The USD/INR (Indian Rupee) pair triggered a bullish wedge pattern recently and entered into a consolidation. The price is now trading near the 38.2% Fib level which aligns with a horizontal support level, signaling a potential continuation of the underlying downtrend. Notice that the pair hasn't reached the profit target projected by the wedge pattern yet, which lies around the 73.50 level. We are following this setup in our Telegram group and wait for a buy confirmation
ULong
by MujkanovicFX
The only level in play is 68.86=> After many requests from our followers in India we are posting an update to the USDINR map. => Here from a technical perspective we can see that there is a case to be made for the '5th wave' already being put in place... although we didn't quite reach the target for the minimum flow it came close enough. => This means the next big support level below is 68.86 which includes a confluence of major highs in 2013 and 2018. This is the 50% retrace of the final advance wave. => Rationally, the fact this level was so important on the way up and took many times to crack ...we know it will be equally important on the way down. A break below will increase confidence that a major top has been put in placed and afterwards there is very little in the ladder till 66.15. => Here actively looking to build positions to the downside and tracking 68.86 very closely. => Good luck to all those trading this one in live or looking to build positions ... or simply watching from the sideline
by ridethepig
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