Short trades can be initiated on EUR INR as correction is due after ~3 weeks of rally. Strict stop loss should be placed as it is currently trading above 200 EMA on daily charts. I'd recommend trailing your stop loss once it starts moving in our desired direction.
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
Your trades are your own sound decision. I'm not responsible for them.
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.
Risk:Reward = 8-12 times
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...
EURINR is on short term recovery path after giving breakout from Head & Shoulder pattern. Falling trend line suggests upside is capped at 78.90-79 region. 5 DEMA is still below 13 DEMA .Today's close above 78.20-78.25 may turn it upward. As long as 80.40 (38.2% retracement of entire fall) holds on daily closing basis, we can expect pair to pursue H&S target of 72....