Jpyinr and Usdinr.
After a retracement to 93 and then drop below today's low 91.90.
1. Rsi divergence
2. Price closing lower low
3. Price following a downward slope parallel channel
4. There's a 50 and 618% retracement at 93.00
High 97.7764 and low 86.0067 in between there's a huge margin gape. In the four-hour time frame, there's a small H&S formed. Price 94.7263 has been rejected to the upside. Keeping in mind last week's mid-price is 90.8238.
Conclusion: I'm looking for a price target 90.8238 as the downside and if price holds above 90.82 then possibly bullish again and 97.77 would...
Pound has break all its resistance levels by making a bottom at the 83.35 levels.
And within a month it has given an incredible returns of up to 10%.
Now it is again try to test its major resistance levels which can lead it to another highs of 94.80-95 levels. So,
Buying Levels if it crosses Rs. 92.50 Levels.
For the TG: 94.85 levels With the SL: 90.14 Levels.
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Wait for entry setup, if available then Long/short.
R:R is good.
The pair was moving in a steep rising wedge pattern from the past 1.5 months. GBPINR, in the previous session, gave a daily close below the lower trend line of the wedge pattern, confirming a breakdown. In doing so, the pair also breached crucial support of 21 days EMA (88.1609). Now, it is susceptible to heavy selling that can take the price to 86.5692. The stop...