USDINR: Watch closely for an insane 2024 rally.

USDINR is trading inside an Ascending Triangle on the 1W timeframe, with the 1W technical outlook constantly bullish (RSI = 59.515, MACD = 0.267, ADX = 38.795). This is despite 8 failed attempts in the last 9 weeks to close a 1W candle over the top of the Ascending Triangle, which on any other occasion would be considered a sign of weakness. With the 1W MACD on a Bullish Cross though and the whole pattern supported by the 1W MA50 in July, we expect a bullish breakout to take place soon.

The chart on the right which is on the 1M timeframe shows the incredible upside potential of the pair every time it breaks out. If we get the candle close we want, look for a buy and at least a +12.60% rise (TP = 92.000).

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