Currencies
FRIDAY, APRIL 22, 2022
Rupee
Rupee
USD/INR
CMP-$76.45 (22.04.2022) - VIEW POINT
TREND TOWARDS FINAL HIGHER LEVELS TARGETS AFTER LONG CONSOLIDATION:
TREND TOWARDS MEDIUM TERM HIGHER LEVELS TARGETS LEVELS FINALLY:
EXPECT VERY SHARP TREND IN USD/INR, EXPECT IT TO APPRECIATE IN NEAR TERM TILL IT REVERSES:
FINAL WAVE-E of 5 for HIGHER LEVELS TARGETS: TRAIL TILL IT REVERSES:
Rupee closed @$76.45 as on 23.04.2021. It's started to rally towards all time high levels as per the view long back expected earlier on 26.02.2021.It has consolidated for a very long period of time in the range of $75 to $72. It has broken a range on upside & finally holding above $75 levels.
One can expect sharp movement on upside in short term towards final higher levels targets levels.
It holds & sharply reversed from medium term support levels of $72.30 as mentioned & expected earlier as per chart attached. One should expect $$$ to become strong in short to medium term till it holds above these support/reversal levels.
One can expect very sharp movement in USD/INR in near term towards target1-$78.50 & target2-$79.50 levels in short to medium term. It looks like final wave-C of E of 5 of ending diagonal as per overall wave counts chart attached.
It has strong support @$73.87 in short term & $73 in medium term, till it holds, one can expect rupee to sharply appreciate against USD in short to medium towards higher levels targets in short to medium term.
Momentum indicators of various time frames are also in BUY supporting this view.
Conclusively, USD/INR to depreciate in short to medium term perspectives for higher levels targets till it reverses.
USD/INR
CMP-$76.45 (22.04.2022) - VIEW POINT
TREND TOWARDS FINAL HIGHER LEVELS TARGETS AFTER LONG CONSOLIDATION:
TREND TOWARDS MEDIUM TERM HIGHER LEVELS TARGETS LEVELS FINALLY:
EXPECT VERY SHARP TREND IN USD/INR, EXPECT IT TO APPRECIATE IN NEAR TERM TILL IT REVERSES:
FINAL WAVE-E of 5 for HIGHER LEVELS TARGETS: TRAIL TILL IT REVERSES:
One can expect sharp movement on upside in short term towards final higher levels targets levels.
It holds & sharply reversed from medium term support levels of $72.30 as mentioned & expected earlier as per chart attached. One should expect $$$ to become strong in short to medium term till it holds above these support/reversal levels.
One can expect very sharp movement in USD/INR in near term towards target1-$78.50 & target2-$79.50 levels in short to medium term. It looks like final wave-C of E of 5 of ending diagonal as per overall wave counts chart attached.
It has strong support @$73.87 in short term & $73 in medium term, till it holds, one can expect rupee to sharply appreciate against USD in short to medium towards higher levels targets in short to medium term.
Momentum indicators of various time frames are also in BUY supporting this view.
Conclusively, USD/INR to depreciate in short to medium term perspectives for higher levels targets till it reverses.