Short
USDINR View
Scenario 1 : Continues the Head n Shoulder breakdown (can you spot Head and Shoulder?) to achieve T1
of Head and Shoulder breakdown target &
200 EMA Support. If breaks further,
then T2 can be achieved which is a support of 2 hammers printed previously.
Scenario 2 : If it does not break and open flat or gapup,
it may consolidate here before breaking down. Range 74.5 - 74.25
Scenario 3 : It may achieve T1 and do a false breakdown of the inclined trend line (& 50 EMA) and again bounce back up.
Look for bullish candle patterns here.
of Head and Shoulder breakdown target &
200 EMA Support. If breaks further,
then T2 can be achieved which is a support of 2 hammers printed previously.
Scenario 2 : If it does not break and open flat or gapup,
it may consolidate here before breaking down. Range 74.5 - 74.25
Scenario 3 : It may achieve T1 and do a false breakdown of the inclined trend line (& 50 EMA) and again bounce back up.
Look for bullish candle patterns here.
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