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...
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...
Commentary: GBPINR 4h time frame. bear flag got reject and brokeout to upside. facing strong resistance zone at 85.1537. following weekly time frame gbpinr formed h&s and still remain in bear trend.
Upcoming week thought process: gbpinr is in bear trend and gave a pullback facing 85.1537 strong resistance following another resistance at 86.6605. projecting...