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