TurnedTable

TurnedTable

Possible cypher formation on USD/INR pair. CD leg in the making, but needs to climb and see a daily close above the trendline resistance and previous support (broken previously) around 66.7812 The initial targets for an expected bullish move remain at the 38.2% and then the 61.8% fib level for the CD leg. The current daily candle is signalling indecision....

TurnedTable

Looking at the hourly chart we can see a probable bullish cypher formation T1 at 32.8% retracement of CD at 83.529, and T2 at the 61.80% retracement of the same at 83.926.

TurnedTable

A double top on the hourly chart Bearish target at 0.8783