USDINR, having broken the Black LTL that I mentioned in my post USDINR: At a crucial point , is now nicely poised for a downmove. The downmove is also supported by a Wolfe wave (drawn in Blue) targeting 53.4 or lower, which also coincides with the median line of an APF (drawn in Green. Based on the WW, APF and confluence zones of some of the TLs in the expected range for the move, the likely path USDINR may follow is shown in Red.
With the break back of Blue TL, USDINR looks bullish as long as it stays above 54.32 and above the blue TL and UTL of Green APF.
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