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| Hourly Chart |
USDINR is
closing in on the possible reversal zone, the zone ranges from
55.80-56.00. USDINR should complete wave {2} in this zone. I would short
in this range with a stop loss above the beginning of wave {1} at
56.41. On the down side we may start wave {3} which is always the most
dynamic wave of any impulse move, and is expected to touch the 54-52
zone. So a risk of 0.40 Paise may give you a reward of 2.00 to 2.40 Rs
to a dollar. This gives us Reward to Risk ratio of 5 to 6. I would call
it a good trade. So somewhere during today's session or tomorrow, we may get an opportunity in the 55.80-56.00 range.
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