Intermarket relationship is one of the tools which can help traders for better and high probability trades.
EURUSD and EURINR exhibit brilliant relationship. This
relationship may differ in magnitude but at the end of the day which trend
prices are following is important. It is also very vital to know the pattern,
so one can place his or her bets accordingly.
is the part of research taken from “The Forex Waves Short term update” which
provides the short to medium term outlook on USDINR, GBPINR, EURINR and JPYINR.
This report includes important level for each currency pairs with proper risk
EURINR 60 mins chart spot:
after gaping action on 25th June 2014 prices have done nothing but
consolidated in a range.
For EURUSD, prices are might forming
inverse head and shoulder pattern which is bullish sign for EURO and this will increase buying
pressure in EURINR.
As shown in 60
mins chart, prices have managed to sustain the gap and currently consolidating
near 82.30 level. The reason behind this consolidation is that EURUSD is forming bottoming pattern and
so far we do not have any positive price confirmation. Break of the pattern
will provide positive sign and it will accelerate the buying pressure in EURINR
currency pair which will take prices towards higher levels. In short……….
So trade with
objective tools and subscribe to The Forex Waves Short Term Update.
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