This Week EURINR - Outlook : 25.11.2019
* After last few weeks of consolidation, last week EURINR pair opened at 79.70 and inched till the high of 80.15 but it once again failed to hold at higher levels and finally settled on a flat note at 79.68.
* Last week, it precisely tested the immediate trend line resistance and ended forming inverted Doji
candle stick pattern. Going forward, 80.20 is likely to hold as immediate resistance and it could once again slip the pair till lower band supports of 78.60 levels.
* The momentum indicator RSI has also stuck in narrow range at 53 mark and stochastic indicator has made negative crossover on weekly chart signifying bearish strength.
* For the week, we expect EURINR pair to once again slip lower till the immediate support of 78.90 then 78.40 levels and thus recommend selling on minor pull back around 80.00 levels.
Join Whatsapp 9841986753
Whatsapp Number : 91-9094047040 / 91-9841986753
* Last week, it precisely tested the immediate trend line resistance and ended forming inverted Doji
candle stick pattern. Going forward, 80.20 is likely to hold as immediate resistance and it could once again slip the pair till lower band supports of 78.60 levels.
* The momentum indicator RSI has also stuck in narrow range at 53 mark and stochastic indicator has made negative crossover on weekly chart signifying bearish strength.
* For the week, we expect EURINR pair to once again slip lower till the immediate support of 78.90 then 78.40 levels and thus recommend selling on minor pull back around 80.00 levels.