The USD-INR chart shown below looks very bullish. After doing a perfect 62% retracement and finding support at the 44 mark dollar is strengthening. I would expect some correction or consolidation and then another rally till 52.
The rally from 39 to 52 looks very impulsive to me, and I would expect the next rally to be the same with base target of 57 and then to 65 in long term. Which actually paints a very bearish picture for equities and commodities.
The rally from 39 to 52 looks very impulsive to me, and I would expect the next rally to be the same with base target of 57 and then to 65 in long term. Which actually paints a very bearish picture for equities and commodities.
0 comments:
Post a Comment