USDINR-evening star pattern at 4 hour

USDINR

Indian Rupee at all-time low which can mean:

1. RBI will intervene next week to make the bull run slow
2. Evening star at 4 hours look promising. One should watch the next 4 hourly candle.
3. The previous high, 77.88 can be a resistance for the next consolidation. The consolidation is possible as the Dollar is at all-time high and RBI might intervene.

Kommentera:

4. RSI also above 70, which means reversal is possible.

Kommentera:

Still taking naked positions can be risky; hedging will be a great idea.