USDINR Elliott Wave forecast

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USDINR daily continuous contract


USDINR is now consolidating in a tight range of 76.1 and 75.00, this one rupee range is going to decide the upcoming trend for the currency pair.

As per wave theory, prices after completing wave (v) at 77 levels, it moved lower and completed wave a, thereafter it is in the process of forming wave b which seems to be complex correction ans last leg of wave b is on going which can test near to or 76 levels. Once this leg is over, USDINR will plunge near to 74.5 and then 74 levels.

The summation is, USDINR is not expected to move above 76.25 and as a result the overhead supply will drag prices near to 74.5-74 levels over short term.

Elliott and Neo Wave analysis is conducted for 1 month, this is an advance technical course suited for professional traders. Twice a week, 2 hours will be given for theory as well as practical application. The fees for it will be Rs. 10,500/-.

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Comments

Phani Kumar said…
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9 October 2020 at 16:26
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