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USDINR techincal outlook

Rupee is possibly in making the formation of three-rivers, which is a variation of complex bullish head and shoulders pattern.

Some features of this formation really help us in understanding the scenarios we may be facing. Three-rivers patterns are formed in 'gorges', i.e. after a steep fall and the bottom being formed with slowing of the momentum (fall). But this pattern takes a long time to form and market/prices are in a tight but volatile range during the formation. In case of stocks, unlike forex, the volumes are very good indicator of waning interest in the stock.

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Falkor
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