Sell EURINR below 80.1700 Target 79.20 SL 80.88 - GEPL Capital
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Chart for the day
EURINR (Daily) - 80.6725
Observation
* Prices of EURINR has been respecting the down trending trend line since April 2021, Prices have shown a reversal by taking resistance from the trend line (29th June 2022)
* On 6th July 2022 prices gave a breakdown from symmetrical triangle, which was forming since March 2022.The break down was carried by high volumes.
* Post the breakout we had witnessed that MACD had a negative cross over, In the latest trading session we witnessed prices have confirmed downtrend by forming lower high formation on MACD and sustaining below ZERO line.
* We can spot increment in the volumes, indicating more selling pressure.
Inference
Sell below 80.1700 Target 79.20 SL 80.88
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