Technical Analysis - USDINR, USDCNY, Euro and US 5 Years T Notes
USD INR USDINR has been falling for a while and reached the lower end of a falling channel from the NOV top. At the recent low we have formed a ending diagonal shown in blue. This at the lower Bollinger band with positive divergences in the RSI and momentum in buy mode we have a set up for a bottom. Will the next move end up being a X wave retracing the 3 month decline or the start of a larger move up? That we will answer based on the impulsive behaviour of the rise. 61.8% of the A-B-C fall is at 68 so that would be the initial objective. 67.12 the 40dema would be the first important resistance. USD CNY USDCNY - starts its next move in wave v of III towards 7.05 at the upper end of the long term channel US 5 Years T Notes US Yields made new multi year highs today. I decided to move away from the 10/30 year charts that I usually use because they did not give me a clear indication that we were in wave 4. So the 5 year note was a good idea. The Monthly cha