Eurinrshort
Rising wedge in EURINREuro to Indian Rupee pair (EURINR ) has been forming rising wedge for some time on the Daily time frame. This is also supported by fall in momentum as shown in the RSI.
The pair has rejected bulls for last few days. Conditions look ripe for a fall in price toward wedge target zone of 86.8 on the EURINR spot pair. SL may be kept above previous high, around 89.30.
EURINR Looks weak: Short opportunity on the chartsEURINR is looking weak as previous 2 weeks high is acting resistence.
StochRSI also showing early signs of reversal.
The chart is pretty much clear and very straight forward.
Date: Sunday, 13th Oct 2019
Short below 78.214
SL: 78.590
Open Target
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EURINR: Buy@ 77.83, SL@76.94 T1@79.30 T2@81.20EURINR is close to its multi month support level and is a good buy with a better risk to reward ratio.
Buy EURINR ONLY AROUND 77.83 (CMP: 78.135) with Stop-loss of 76.94 and Target 1 at 79.30 and Target 2 at 81.20
Please Note!!! Trade the script only after consultation by your financial consultant. We are not SEBI Registered and hold no liability for the scripts we mention our observations on. This is purely based on Technical analysis any trade done on this analysis is purely be traders responsibility.
EUR INR CURRENCY DRIVE Forex AdvisoryEUR INR Spot at 79.99, after testing the high 80.35, It’s highly expected market would be corrected till 79.33-30 (65%), and 78.54 (35%), as it’s break 79.84, in coming sessions, traders can go for short and also take premium advantage for coming sessions. Exporters are advise to hedge at least 60-70% at 79.80 to 80.04, and Importers are free to hedge till 78.60.
ON the other hand if it’s also forming Bullish Flag, if it’s break 80.24, will test 81.30 ( EUR INR Bullish less chances as EUR USD is expecting to depreciate till 1.2010)
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