Saturday, February 25, 2023

I am sharing my view on USD INR Movement as of now and predicted the two possible moves on the chart. The chart is moving in a range since 14 Feb 2023 and shrinking all the way to form an ascending triangle . I have tried to wind up its movement as shown in the chart. As USDINR has already tested the resistance level 1, 5 times, and thus the probability of breaking out is high, with support of two Moving Averages below the CMP , and ascending support line. However , it may encounter another rejection at resistance level 2 again , as it has not been tested much.

Bullish Traders , just pray that It so not touch 83.04 tonight, if you all wish it to cross the level of 83.26 on Monday. Strength must be exhausted and if it touches previous high 83.04 today, it would be a week try and it will collapse again. Best thing would be it rest today with support at 82.84 and on Monday it comes back again with a new strength and crosses the two resistances comfortable with ease.












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