EURINR spot pair has formed inverted head and shoulders on the 2H chart. The currency pair is breaking out of that formation. We can wait for a retracement to enter long for a measured move target of 83.5.
eurinr is nearly break out
if you are trading in this currency wait for right entry
and enter the right candale Conformation
and risk rewardt ratio is 1:5
EURINR has been moving sideways with a downward bias over the last few days post the peak on Dec 3rd. The sideways move has traced an W-X-Y pattern. The pattern also resembles a 'FLAG' pattern as per classical chart analysis. Considering the previous sharp move , one can expect a continued upsurge following a break of the upper trend line
The subsequent move...
Price is coming near a long term channel support also near horizontal support, can go long after watching activity near level for target of upper
channel boundary.
Eur/inr sell activated Today.It is Keep rising from 78 for few months.Now trend is broken in 4h.i used daily chart for sl and tp.
Target 1 - 87.8
Target 2 - 86.5
good luck all.
