For over a decade, the consensus around the Indian Rupee was repeatedly framed through macro narratives, policy expectations, rate differentials and economic logic. Yet structurally, the larger trend kept asserting itself. Back in 2011, when I projected a long-term depreciation cycle toward levels that seemed improbable at the time, the overwhelming institutional consensus was still […]
A Trade set up on GBP-INR Cross rate.
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 […]
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.
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.
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 […]