USD / INR Analysis

USD / INR Elliott Wave Analysis. As on 25 Feb 2021. CMP 72.40. Posted at 2:50 pm.

Our stop loss below 72.50 was taken out, for a tiny loss on the trade.  Price continued to decline to 72.25.

The pattern has been re-worked.  The new structure is also looking ripe for a reversal.  But once bitten, twice shy, and we will await further confirmation before entering a long trade i.e. long USD / INR.

A different ending diagonal appears to be complete or near complete at 72.25.  Price should rapidly make it's way above 74 under this count.

There is no change to the larger structures.