thanks for the useful thread..
it would be good for the learners here.
I would feel that it would be more helpful, if you could post your inferences based on the chart analysis..
It seems USD-INR marked short term top, and now a corrective leg is on, need to watch closer to 55 levels, although momentum indicators are saying a corrective action in progress, prices need to break 55 for greater confirmation
Ideal first TGT should be 53.5-53 zone
Watch ADX peaking out with +DMI divergence and -DMI also cleared above its recent peak with great length, so this are signs of retracing pattern(on chart it is wrongly shown plz spare me for this one)(REad chart as red is +DMI and green -DMI)
Its a aggressive trader trade as prices correct to golden ratio 61.8% retracement on weekly charts with channel support marked yellow zone
On daily too it formed a positive divergence and possible trade setup with stoploss on closing basis