yashp1
Short

Bearish on EURINR for a few weeks after the rate hike decision

FX_IDC:EURINR   EURO / INDIAN RUPEE
Hi everyone!
I love your support!
I am Bearish on EURINR             based on patterns on the daily and weekly chart.
There is a European central bank rate decision in a few days which will decide the direction of the trade and bring volatility into the market.
Important zones of support at 73.70 have been broken and a retest of that level can be expected before price moves lower.
Only and only once price reaches 72.6850 do I think of entering a trade.
The order will be as follows.

  • Entry to sell once price touches 72.71
    Stoploss at 73.9
    Target profit at 70.25

Edit the trade and bring the stop loss to break even when price reaches 70.90. At this point exit half the position and secure some profit.
As always trade safe.
R u sure?
Reply
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