* On the daily chart, EURINR (Aug) has given a downward breakout from its “Double Top Formation”, which confirms bearishness.
* Moreover, price has formed a “Falling Window Formation” which indicates bearish control.
* Furthermore, price is trading below its “Parabolic SAR” which confirms a downward bias in the counter.
* Also, momentum indicator Stochastic (6) has given a negative crossover, which confirms negative momentum.
* Additionally, RSI (14) has crossed below its overbought zones which signals weakness in the pair.
* Based on the above technical structure, we expect a bearish movement in EURINR (Aug) towards 85.90 levels in the near term.
Sell EURINR (Aug) @ 88.07 SL 89.30 TGT 85.90
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