USD / INR Update

USD / INR Update. As on Friday 21 Oct 2022. CMP 82.80. Posted at 9:30 am.

Bottom line : The thrust from the larger 4th wave triangle has met requirements for the larger 5th wave.  A reversal could be on the cards.

Both counts below show the potential of a reversal.  Count 1 shows temporary reversal followed by new all time highs, while the other shows USD INR is completing a larger 5th wave and the impending top could hold for months, if not years.

Count 1 : This shows an intermediate degree wave 3 nearing a top.  Under this count, next significant move is to below 80 to complete a 4th wave, before further new all time highs.


Count 2 : This count shows the potential of a larger 5th wave in it's final stages.  Under this count, the rupee would strengthen to below 75 (4th wave of lower degree).

Triangles are often penultimate waves within impulses.  The 5th wave has met the triangle width measurement and looks ripe for a larger reversal.