TradingShot

USDINR Still bearish but we move our target a little higher.

Short
FX_IDC:USDINR   U.S. Dollar / Indian Rupee
This is an update to our November 27 2023 idea on the USDINR pair where we issued a sell signal exactly at the top (Higher Highs trend-line) of the 1 year Rising Wedge pattern:


Our 82.600 Target hasn't yet been hit but due to the slower than expected decline, we have to modify our target and move it a little higher to 82.700, which marks a projected contact with the 1W MA50 (blue trend-line).

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