USD/INR clocked a high and low of 69.04 and 68.35, respectively, on Tuesday before closing at 69.01. Essentially, the pair created a bullish outside-day candle – the day began on a pessimistic note, but ended with optimism. So, the immediate bearish setup, as indicated by the downward sloping 5- and 10-day moving averages (MAs) and lower highs, lower lows stands neutralized. A short-term bullish reversal would be confirmed if the spot closes today above 69.04 – the high of the bullish outside-day. That looks likely as the 14-day relative strength index (RSI) is still reporting oversold conditions. That said, a close below 68.35 – the low of the bullish outside-day – would signal a continuation of the sell-off, although, with oil rallying, the downside looks limited. Daily chart Trend: Bullish 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 Bitcoin, Ethereum, Ripple overview: rangebound trading with bearish bias prevails FX Street 4 years USD/INR clocked a high and low of 69.04 and 68.35, respectively, on Tuesday before closing at 69.01. Essentially, the pair created a bullish outside-day candle - the day began on a pessimistic note, but ended with optimism. So, the immediate bearish setup, as indicated by the downward sloping 5- and 10-day moving averages (MAs) and lower highs, lower lows stands neutralized. A short-term bullish reversal would be confirmed if the spot closes today above 69.04 - the high of the bullish outside-day. That looks likely as the 14-day relative strength index (RSI) is still reporting oversold conditions. … 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.
