USDINR: Neo Wave Expanding Triangle Running Variation

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 USDINR spot daily chart


In my previous article for USDINR, I was in a conclusion that there is an extracting triangle in wave y and then it can slump down towards 73.5 levels. However, prices continue to move higher thereby negating the extracting triangle.

To read the article of USDINR Extracting Triangle, click on the below link

https://www.marketanalysiswithmeghmody.com/2022/02/usdinr-neo-wave-extracting-triangle-in.html

Here in the above chart, I think prices are now moving in a Neo Wave Expanding Triangle which is a Running Variation. This will end wave b on the higher side and wave c down will open leading it till 74.3 levels over short term.

Running Variation in Expanding Triangle is more like a trending move up and looks like moving in a higher highs and higher lows.

The summation is USDINR can reverse the direction any time soon and can test the level of 74.3 (spot ) over short term.

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