Friday, August 8, 2014

Elliott wave analysis of USD/INR - The 161.8% extension target at 61.78 almost tested

USD/INR is almost testing the 161.8% extension target at 61.78

Since my last update on July 31, we have seen a perfect impulsive rally and is sitting just below the 161.8% extension target at 61.78 (the high till now has been 61.73). Even if we does see a set-back from 61.78, it should only prove short-lived and it should just be a matter of time before the next impulsive rally breaks right through resistance at 61.78 for a continuation higher to 62.93 and possibly even higher.

Short term support will be found at 61.19

If you find this post interesting, then you should consider joining the Elliott Wave Surfer Service. Click at the link and see, what I have to offer

No comments:

Post a Comment