Elliott Wave Analysis of USD/INR

The CFO of a large corporation based in India asked me whether it is possible to analyze the USD/INR using Elliott Wave Analysis. His company has significant exposures to the foreign exchange market, and even a small move in the exchange rate of the Rupee will have a significant impact on the bottom line.

The answer to his question is a resounding YES. Infact, I have been advising many old friends in the banking sector for long not only about the USD/INR, but also about the OIS, or overnight index swaps, using Elliott Wave Analysis.

I am deliberately not publishing my most recent work on the INR because that is saved for a workshop that I plan to conduct soon in India. (Of course, a copy has been sent to the CFO mentioned above).

The purpose of this post is to share with readers that it is possible to apply Elliott Wave Analysis to just about anything that is traded widely.

P.S. I am going on a 2-week holiday to India, and so the next update will be only in April. Enjoy. Ramki

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  1. Advance welcome to you Mr. Ramki. In case you plan to come to Bangalore, the privilege will be mine to come and meet you in person. In case you don’t have plans of coming to Bangalore, wish you a very happy holiday and hope you have loads of fun during your 2 week stay.

  2. I think before that……. Indian market more likely to react more towards downside……..

    parliament meeting is on 24 march…………

    Lets see wat market says……….

    1. Niket,
      I am visiting India on a brief 2-week holiday. One reader is trying to persuade the Calcutta Stock Exchange to sponsor a workshop during my visit. Don’t know if things will move that fast in India. If there are any other events, I will post it on the blog. Regards.

  3. sir
    i am from Gujarat and a small investor, let me know when and where your work shop will be conducted,it will be very helpfull to me,its my plesure to meet you,

    1. Hello Chaudhry, I am going to be in India on a short holiday (Madras & Blore). If the workshop happens during this trip, it will be a private affair. Should some event take place in Gujarat or Bombay, this blog will surely alert everyone. Good luck in your trading.

  4. sir I am sooooo eager to meet u. sir if possible pls inform when u in blore. It will be our pleasure to be with u for sometime.

    1. Hello Harshal, I am currently on a holiday in India. I will be able to conduct seminars only when sponsored by a group of individuals or an organization. Will let you know if anything happens in Bombay. Regards

  5. Hi Ramki,

    What do you think of the weakness in the INR. Does it look impulsive to you? I had a look at your Nov 2008 post on INR. If we make some small adjustments to the counts, drop from 52.18 to 43.85 looks corrective in the big picture. The next big move in the longer term seems to have started and a new low seems to be on cards. Eager to have your count – would you do a post?

    Thanks and Best regards,

  6. Dear Ramki,

    We are seeing all sorts of things(swift and sudden drop in rupee, today RBI intervening by selling more dollars to stop the drop..etc) happening in this pair…

    I guess this definely needs some of your attention. Would you please throw your magnifying glass analysis here 🙂 ?

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