USDINR - 17Jan2022
On the weekly, price dropped to 50MA before bouncing back. On the daily, it is bouncing back to retest the 200MA where it is expected to face bearish pressure around 74.400
On the H1, price played out the triangle pattern perfectly to 74.2250. On the H4, with the consolidating taking place, there could be a possibility of bouncing up to daily resistance at 74.40 before facing bearish pressure.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the weekly, price dropped to 50MA before bouncing back. On the daily, it is bouncing back to retest the 200MA where it is expected to face bearish pressure around 74.400
On the H1, price played out the triangle pattern perfectly to 74.2250. On the H4, with the consolidating taking place, there could be a possibility of bouncing up to daily resistance at 74.40 before facing bearish pressure.
This is for personal record purposes only, not financial advise or solicitation of trade.