Wednesday, August 22, 2012

USDINR indecision continues!

4 Hourly Chart
USDINR as pointed out in our last post is still indecisive, more than a couple of possibilities exists, but the range has now narrowed down to between, 55.92-55.065. A break below the 55.065 level should be good for equities, and conversely a break above the 55.92 levels may suggest some weakness.
An interesting thing to note here is that below 55.065 levels, the possibility of a triangle in wave [4] takes a backseat, it will be postponed to say the least. But if we move up without violating 55.065 and break above the 55.92 levels, the up trend is almost confirmed. If the up move persists after breaking out from 55.92 level, we may even see prices reaching 58-60 range.


nath said...

why do you keep on posting when a wave count or direction is not clear.
kindly post only when counts and directions are clear providing low risk trading oppurtunity.dont occupy whole space.we are missing others posts with clear counts

Dean Market Profile said...

Its really difficult to understand "uncertainty", let alone embrace it. But that's alright, uncertainty is not everyone's cup of tea. But I would still say I did not intend to cause anyone trouble!