USDINR RISING WEDGE FORMATION (SHORT)

17 באפר׳ 2020

USDINR is forming a rising wedge formation which indicates a further decline in prices at any point of time. Traders may wait to complete the formation and take a short position accordingly. This would also be an important reason to shoot up the Nifty index higher further. Hence, its better to be long on indices and short on this currency pair after breaching the wedge.