USDINR : Long term Elliott Wave ForecastAccording to my Elliott Wave count of USDINR, if I am correct ( being skeptical as EW count can be subjective, although all rules have been followed ) we are in minor wave A - of the Intermediate wave (3) - of the Primary wave 3 - of the Cycle wave V.
A Bulling engulfing formed on a Weekly chart suggests we have completed minor wave A , which is also a Fibonacci retracement up to 50% and the next target should be minor wave B for range Rs. 66 - Rs 66.24. (assuming it will be a Zig-Zag correction)
There after target for minor wave C target should be Rs 59 - 58.2944
I'll post more detail EW counts for the same.
