Tuesday, August 24, 2010

A Currencies Post.: INRUSD and EURUSD

Well INR got its new symbol and is ready to rock.
Longer Term chart of INRUSD

INRUSD has entered Primary degree wave 3 up with a target of approximate ~65 to USD. This is a very aggresive target so I have broken down the targets to Intermediate and Minor.

I am considering INRUSD to reach first 48.82 (cmp 46.82), with a Stop Loss of 45.70.

INRUSD Wave Count:

 HnS and Cup and handle

Refer chart for comments:

A larger Inverted HnS and Flag possible:

Some time around in May I had done a post on EURUSD titled "EURUSD Monthly HnS", showing a larger Monthly HnS. Well, time has passed and seems EURUSD is done with Neckline Testing and is headed south.

This is updated chart of EURUSD. Refer chart for comments.

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

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