USDINR - Elliott Wave Analysis

by Dean Market Profile on Wednesday, November 07, 2012 in Currencies, Elliott Wave, Long Term, USD INR

This is a weekly chart of USDINR. The count suggests that we should now come down in wave (D). The possible target would be in the 49 range. Please be mindful of the fact that this is a weekly fractal, and correspondingly take much more time to complete.

This daily chart shows the developing wave (D) id detail. We may be forming a {W}-{X}-{Y} correction. Lets see where prices take us. Presently prices are facing resistance in the 55-55.25 zone.

About Dean Market Profile
Dean is a fulltime trader for last 13 years. He is passionate about technical analysis. His instruments of choice are Nifty and banknifty futures and options. His main analysis and trading tools include advanced techniques like Market Profile, Voilume Spread Analysis and Order FLow Analysis. Dean is a teacher at heart and loves sharing his learnings with committed traders. You can check out his courses here...

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Wednesday, November 07, 2012

USDINR - Elliott Wave Analysis

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