GBPINR Just broken the trend line.Sell with the sl 99.80 with the target of 98.30
If breaks and stays below 98.30 then it may go below 200 ma.
Target and sl explained in the chart.Trade with your own risk.Happy trading.
Jpyinr and Usdinr.
After a retracement to 93 and then drop below today's low 91.90.
Reasons:
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
It would be really interesting if GBPINR moves in this parabolic circle. 93.59 is the zone to decide which way. 94.95 and 96.13 basically will be round up level.
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.
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...
TREND ANALYSIS
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