Currencies

On 4^th October 2018, I wrote, “If we look at the current chart of INR the target for the pattern comes at 76 -77 and INR should depreciate to those levels in the next 1.5 years.”

It has been almost 1.5 years and INR is trading at a low of 75.25. If we look at the given chart of INR the weakness in INR will continue. I expect INR to depreciate to 78 and beyond in the current year. 

On 18^TH November 2016, I wrote, “If we look at the given chart of DXY it seems that DXY is ready to move up to 120 levels. If DXY closes above 100 levels by the end of December, the target will be 120.”

Dollar index did not move as expected. It made a high of 103 in January 2017 and then fell to 88 levels. Since then it has gradually been moving up and has currently crossed 100 levels. If we look at the yearly chart of DXY index it is showing a classical bull formation. The breakout I was expecting in 2017 may happen in 2020. I expect Dollar bull market to continue and my target for DXY stays at 120 levels. Expect Euro, GBP, YEN and other currencies to fall.