USDINR: A Completion of Corrective Pattern

 USDINR Spot hourly chart



As shown in the above chare, prices are moving in a falling channel and it awaits for a bullish break. As far as lower highs and lower lows are intact prices will continue to respect the falling channel resistances and supports.

However, as per the wave theory, prices have completed a corrective pattern (a-b-c) and it is all set to move higher which can possibly give bullish break in a falling channel. The other possibility is if it converts into double correction, which will reverse prices from the channel resistance.

The summation is 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.

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