In this Educational post, I will be sharing the most basic and simple harmonic pattern: Formation of the Pattern 2. What to look in the pattern 3.

Targets This is a new series of Harmonic Patterns , where I shall be discussing about the below patterns: Expected rise in price after 7days period. The support near Expected rise up to We will get a pull back from support zone and after that we will take a flight to the Take Profit zone. I would wait for a break of the trendline and consolidation above the trend line to go long. The daily RSI shows higher bottom formation.

USD/INR exchange rates | Forex Trading

With that in mind, one should watch out for a rebound from USDINR is currently in a channel moving up, however I think its only a consolidation and if that channel is broken to the downside, we may see it go down to If it breaks up and breaks out of the trend line, then it will be a deeper pullback, however I dont think thats happening now anytime soon.

The pair has found support around Today's positive candle would confirm a bullish price RSI divergence and open doors for a technical correction to Also watch out for the breach of the descending trend line on the daily RSI.

That would add credence to the bullish price-RSI divergence. The marked entry is the origin of the selling pressure. The volume was high on that selling pressure. When price revisits that zone, expecting the pending sell orders would push the price lower again. Forms runaway gap to break major supports: The breakdown in USDINR continues with a renewed trending bias. After break-away, run away gap at INR is on fire following ruling party BJP's victory in Uttar Pradesh elections. The monthly chart suggests a dovish Fed could yield a sell-off to the monthly MA That means a pip drop.

The move could happen in a day or two if the Fed keeps the rates unchanged. USDINR 2 hour SPOT and not Future chart. If you look at longer term charts, the downmove in USDINR was corrective. A test of Hello guys, We have a good buy and sell setup but wait for break-out.

Another interesting trend-line presents as the reality dawns upon markets that the dollar may be rolling over. Happy to see INR covering some ground.

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Will this free fall of USD, will it test Yearly support line of of Private Messages Chat Ideas Published Followers Following Priority Support.

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