USDINR - 15Nov2021
On the daily time frame, USDINR failed to continue its bullish momentum after a failed breakout 2 weeks ago. Last week price action also closed below 50MA indicating potential further downside.
On the H4 timeframe, prices have played out in the previous H&S perfectly. Now it is facing bearish pressure from the descending trendline in which we could expect it to drop to1st Support at 74.1335.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the daily time frame, USDINR failed to continue its bullish momentum after a failed breakout 2 weeks ago. Last week price action also closed below 50MA indicating potential further downside.
On the H4 timeframe, prices have played out in the previous H&S perfectly. Now it is facing bearish pressure from the descending trendline in which we could expect it to drop to1st Support at 74.1335.
This is for personal record purposes only, not financial advise or solicitation of trade.