EURINR 4h time frame. thought process.
Updated
EURINR 4h time frame. sharp move from 76.1501 to 77.6148.
Using baseline chart. as we can see level 77.6239 is a strong resistance.
although eurinr is in bear trend following weekly time frame it formed an H&S.
for trade setup upcoming week. look for a consolidation pattern breakout either side of that white box, chances are price retracement at 50%, 61.8% fib level after a huge move. looking rsi is at overbought zone watch for any bear or bull divergence and pattern breakout.
I'll keep updating throughout the week as price react. currently technical bias still remain bearish following long time frame.
Using baseline chart. as we can see level 77.6239 is a strong resistance.
although eurinr is in bear trend following weekly time frame it formed an H&S.
for trade setup upcoming week. look for a consolidation pattern breakout either side of that white box, chances are price retracement at 50%, 61.8% fib level after a huge move. looking rsi is at overbought zone watch for any bear or bull divergence and pattern breakout.
I'll keep updating throughout the week as price react. currently technical bias still remain bearish following long time frame.
Note
This is huge move...Nothing special but disaster ahead like Indian equity market.
we will have to wait for join the trend as it gives pulllback or slow down otherwise no chance til it reverse itself.
Note
Hi, I just published a new idea on USDINR do check there's a interesting story.
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