This is an additional study to my previous recommendation on EURINR. Buy More At Cmp 88.6588, Strict SL 87.59 (DCB)
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.
We 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 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. 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...