USD/INR created an inside day candle on Wednesday, making Thursday’s close pivotal. Daily chart also shows a symmetrical triangle pattern. The USD/INR market looks to have turned indecisive. The currency pair rose 0.34% on Wednesday but traded well within the preceding day’s high and low. Essentially, the pair created an “inside day” candlestick pattern on Wednesday, which is indicative of indecision or range play in the market. A close above Tuesday’s high of 75.946 would mean the bulls have emerged victorious in a tug of war with the bears. That would also confirm a symmetrical triangle breakout on the daily chart and open the doors to the re-test of the 2020 highs near 77.00. The pair has been restricted to a narrowing price range since April 30. While a close above 75.946 would activate twin bullish cues, a move below Tuesday’s low of 75.47 would confirm an inside day bearish candlestick pattern. However, the outlook as per the daily chart would turn bearish if and when the pair dives out of the bigger symmetrical triangle. Daily chart Trend: Neutral Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Nikkei 225 likely to remain depressed this year amid coronavirus crisis – Reuters poll FX Street 3 years USD/INR created an inside day candle on Wednesday, making Thursday's close pivotal. Daily chart also shows a symmetrical triangle pattern. The USD/INR market looks to have turned indecisive. The currency pair rose 0.34% on Wednesday but traded well within the preceding day's high and low. Essentially, the pair created an "inside day" candlestick pattern on Wednesday, which is indicative of indecision or range play in the market. A close above Tuesday's high of 75.946 would mean the bulls have emerged victorious in a tug of war with the bears. That would also confirm a symmetrical triangle breakout on the daily… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
