Forex are the biggest market in the world where trillions of transactions are executed between millions of people and the sword for this battle is the channel,
Indian Rupee is in lime light now a days as it has depreciated against US Dollar.
Understanding impact of USDINR on stock market along with Elliott wave counts and inter-market analysis.
It was the month of February 2016 in which Indian Rupee made a high at 68.89 level and then appreciated towards the level of 66 by April 2016.
USDINR has continued to move in narrow range environment from last few months.
One of the most traded currency pair in the world EURINR is currently engaged within a triangular structure testing the investors through random movements.
Euro Index is in intermediate downtrend since 2008.
Elliott wave application on USDINR is shown in below chart.
Elliott wave application on Japanese Yield is shown in below chart. Advanced technical analysis concepts are applied to see the trend.
There is correlation between USDINR and Indian Stock Market which we have mentioned many times in our research.