USDINR: Change of trend (Part 1)
USDINR Spot hourly chart anticipated on 15th November 2021
USDINR Spot hourly chart happened on 26th November 2021
In my previous update about the pair, I had mentioned, "USDINR is all set to move higher from here and can reach till 75.5 over short term once the level of 74.7 is crosses decisively."
Prices have surpassed the important resistance of 74.7 and has been trading above 75 levels, my level of 75.5 is still intact as 74.7 will now act a a support.
To read the previous article on USDINR you can click on the below mentioned link
https://www.marketanalysiswithmeghmody.com/2021/11/usdinr-completion-of-corrective-pattern.html
The falling channel is taken out and prices are now moving in a higher highs and higher lows which is a positive formation. I will be monitoring the move in this pair after it crosses or sustains above 75.5 (spot). Now one can trail stop to 74.5-74.6 for the above mentioned target.
Comments