EURINR "BOTTOM OUT" ????This is an additional study to my previous recommendation on EURINR.
Buy More At Cmp 88.6588, Strict SL 87.59 (DCB)
Eurinrtrendanalysis
Eurinr 4h. bear dive Eurinr suppose to break below and reach to level 83.50. Fib level confluences to 50% retrace upside.
Similar to Gbpinr idea also may work as well.
EURINR 4h. making lower low from 86.74We can expect another low to first impulse fib level 168%. High 86.74 and cmp 84.55 potential rejection can happen at that level it may even take quite sometime to break EQ and break below to reach 83.27.
Reason: Nothing happens as you think.
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
Your trades are your own sound decision. I'm not responsible for them.
Trade safe.
EURINR 4h time frame. thought process. 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.
