Currencies
Friday, June 22, 2012
Rupee
RUPEE:
Rupee has supassed level that I was looking for i.e-$56.28 for Bearish case as mentioned earlier. Its currently trading around $56.80 levels.
But recent rise from low of $54.82 (07/06/2012) is not convicing me for wave-III up case started so far.
It has also faulter around 1.382 levels in previous instances as per chart attached in october 2011 ( Expanding Flat case), that kind levels comes @ $57.20-57.30 (1.382) in present case.
These is the level to watchout for before concluding trend reversal in RUPEE..
$56 is now becomes crucial Support for short term for Bullish case. It should not have to come below it, if wave-III UP started..
But recent rise from low of $54.82 (07/06/2012) is not convicing me for wave-III up case started so far.
It has also faulter around 1.382 levels in previous instances as per chart attached in october 2011 ( Expanding Flat case), that kind levels comes @ $57.20-57.30 (1.382) in present case.
These is the level to watchout for before concluding trend reversal in RUPEE..
$56 is now becomes crucial Support for short term for Bullish case. It should not have to come below it, if wave-III UP started..
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Indian Rupee Exchange Rate