This Week EURINR - Outlook : 18.11.2019
* EURINR pair started the previous week on a flat note at 78.84 and from there it once again inched slightly higher till 79.62 and finally settled at 79.32.
* For another consecutive week, pair continued hover within the narrow range of 77.80 – 80.00. In the last week it almost tested upper band resistance and settled below that. Going forward, an immediate resistance is placed around 79.80 - 80.00 and surpass above that will provide clear bullish break out and could extend till the neckline resistance of Head and shoulder pattern placed at 81.00 then 82.50.
* On contrary, if it fails to surpass the resistance of 80.00 then it could once again retrace toward lower band support of 78.30 then 77.80.
* As currently the pair is trading near the upper band resistance, a convincing surpass above 80.00 will provide clear breakout and thus we recommend buying above 80.00 mark for upside levels of 81.00 then 81.60 for the week.
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* For another consecutive week, pair continued hover within the narrow range of 77.80 – 80.00. In the last week it almost tested upper band resistance and settled below that. Going forward, an immediate resistance is placed around 79.80 - 80.00 and surpass above that will provide clear bullish break out and could extend till the neckline resistance of Head and shoulder pattern placed at 81.00 then 82.50.
* On contrary, if it fails to surpass the resistance of 80.00 then it could once again retrace toward lower band support of 78.30 then 77.80.
* As currently the pair is trading near the upper band resistance, a convincing surpass above 80.00 will provide clear breakout and thus we recommend buying above 80.00 mark for upside levels of 81.00 then 81.60 for the week.