USD/INR: Trapping both buyers and sellers
USD/INR’s daily chart shows the currency pair is trapping both buyers and sellers.
A symmetrical triangle breakout confirmed on April 21 was short-lived. On similar lines, the breakdown confirmed on Thursday ended up trapping sellers on the wrong side of the market.
Thee daily RSI is now trapped in a bearish channel.
I would buy once the RSI breaches the top end of the falling channel. That will likely power a sustained break above 77.
Alternatively, Thursday’s low of 74.93 is now the level to beat for sellers. A violation there would confirm a bearish reversal.
A symmetrical triangle breakout confirmed on April 21 was short-lived. On similar lines, the breakdown confirmed on Thursday ended up trapping sellers on the wrong side of the market.
Thee daily RSI is now trapped in a bearish channel.
I would buy once the RSI breaches the top end of the falling channel. That will likely power a sustained break above 77.
Alternatively, Thursday’s low of 74.93 is now the level to beat for sellers. A violation there would confirm a bearish reversal.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.