Technical Analysis GBPINR – short term
A Trade set up on GBP-INR Cross rate.
Research
Prepare yourself for a ‘sterling’ decline
Cable (GBP/USD) has been moving in a triangle pattern since 2009 and yesterday’s sharp and convincing dip below 1.5630 marked the end of this triangle formation. Cable’s monthly chart (above) with its Elliott Wave count shows that the currency is embarking on its 5th wave of decline. The target for this breakout is mammoth – Over the […]
USD breaks out of range
The regulars of this blog would recall my August post on the USDINR cross rates. Within that larger picture, the short-term is moving to the next stage. A narrow consolidation after a powerful move and a wide range bar. The next stage of Rupee weakness is here.
USD breaks out of range
The regulars of this blog would recall my August post on the USDINR cross rates. Within that larger picture, the short-term is moving to the next stage. A narrow consolidation after a powerful move and a wide range bar. The next stage of Rupee weakness is here.
Indian Rupee set to weaken; long term could get ugly
The Indian currency realised its triple bottom potential at the 43.85 level as the currency moved past 46 against the USD yesterday. The chart below shows the one year daily price movements of the currency and the bottoms are marked by the red oval. The price objective of the triple bottom pattern works out to […]