USDINR: Elliott Wave Analysis

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 USDINR 60 mins spot chart


The currency pair is moving in a very different Elliott Wave pattern and I have been scratching my head to find out the probability of the next wave to unfold. However, in my previous articles of USDINR I thought it will cross its previous ATH but after looking the current pattern, I think it will NOT.

In USDINR I have come up with 2 scenarios

1st Scenario: Prices are moving in a complex correction where it has ended wave a at 75.3 followed by wave b in a w-x-y pattern at 74.32 and now it awaits for wave c to go higher.

2nd Scenario: The pair has completed wave a at 75.75 followed by wave b at 74.32 and wave c higher 75.70 over short term.

The summation is USDINR is all set to soar till 75.7 over short to medium term.

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