FX_IDC:EURINR In my analysis posted on 12.05.2020, this correction channel was overlooked. At present the price action is deviating the correction to uptrend. 1D close above the channel shall be bullish signal. Targets are mentioned on chart.
Please comment with your views, agreement / disagreement.
Hi friends
Please let me know if you have taken this trade.
Also let's discuss if there is any expectations in managing this trade.
akumarkatiyar
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wow
hemanathanvicky
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Ram,
I comply with your view. I thought it would respect the channel and make a reversal, but i see it is breaking the channel. My Views were Bearish previously, but I am Neutral on EURINR for 1 to 2 days. Lets wait and see.
Thanks and Regards,
Hemanathan Gopalan
Hari-Ram-Kumar
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@hemanathanvicky, Thank you Hemanathan for posting your views. It is really means a lot for me.
Yes even I was bearish about the pair in my previous posting on 12.05.2020. Even the pair looks to be bearish based on historical chart referred below. But a clear bearish pattern is lacking at the critical historical resistance near the targets.
But the recent upward momentum was a continuation of bullish trend from historical support. Lets wait and see the price action and patterns formed at the targets to confirm on future long term direction.
Please let me know if you have taken this trade.
Also let's discuss if there is any expectations in managing this trade.