USD/INR - Testing support, ready for the next rally

USD/INR testing support, ready for the next rally?

Since the 58.20 low this cross has tested the support-line multiple times and every time the support-line has protected the downside for the next move higher. I do think this will be the case this time too. but we need a break above minor resistance at 60.42 to accelerate prices higher in wave (iii) to 62.47 and possibly even higher to 64.15.

Only an unexpected break below 59.74 will delay the immediate upside pressure for a decline closer to 59.62 before a new push higher could be expected.

Duane
2014-08-29
Hey EWS,

Great work on the GBPCAD and the NZDCAD. These are the type of opportunities that I am looking for, monthly turns caught with daily or hourly entries. Easy money!!

Duane
Hani
2014-06-06
I have been a fan of you blog for several years!
I am so impressed at your renewal.
Elliott wave analysis is so difficult to me, but so interesting and useful.

Thank you
Hani
JT
2014-06-23
Its been a pleasure over the years I have been following you and even better as a member the education you provide in my view is invaluable you can read books as I have but to see how you evolve your ...