Thursday, January 26, 2012

Canadian Dollar against INR, 48 is the critical levels.

I could only gather limited data for CAD INR, But what I could spot from this chart is a possible zigzag correction nearing an end. We also have an ending diagonal in wave C. But since I don't have a longer term price data for this pair I cannot put into perspective this particular price move. We can spot persistent negative divergences on MACD and RSI. If we cross the 48 level on the downside, we may see further falls on this chart.

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