DislikedUSDINR seems for me an aspect for going short longer term. 1st reason: EWP (http://www.forexhit.com/learn-forex/...principle.html) seems at 5 and it could be time fo a correction. 2nd reason: positive interests when going short (carry trade). actual DR1 @ 59.57 The rest seems to play a correct money management. FXcubeIgnored
Cube in da house!!! :-)
What a surprise. Hope all is running well. Have missed your postings lately in your threads
Will put the link into my blog roll of my Forex blog - thank you for that
Hmm, both of my brokers, Duka and FXCM have no USDINR. Found a chart at GCI
What I see is, that on weekly TF the last impulse up from the 53,63 low came out of a triangle.
So the actual impulse up should be the final one.
Question is: is impulse over or not?
Hard to say. As often, the trust out of a triangle is sharp. So they often come with no very clear substructure.
I would not be surprised, when we right now only would develop a subwave 4 of 5.
On daily TF the structure of the recnt move down looks like a 1-2, 1-2, 1-2, but that can be a corrective move also.
But overall, with apropriate money management, this may play out very good
62,50 may be a very safe target to short, if you are not willing to take the bet, yet