EUR/INR Elliott Wave and Forecasting

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EURINR is moving down after making a high of 92.33 in the month of August 2013. We have shown you the next possible move for EURINR in our Elliott wave segment.

From the below chart, prices is moving in a double corrective pattern, wave a was an impulse wave in which wave v was truncated followed by wave b which got completed at 86.78 in the month of January 2014, wave c was in a expanding diagonal pattern and was completed at 79.52 in the month of May 2014 and then it moved up and has completed wave x at 82.48 in the month of August 2014. Currently it is moving down in the form of wave a of the second correction, which means more two waves are pending. The current wave a can come down till 79.41

The bias for this pair is negative as it can test its previous pivot low of 79.41 in coming trading sessions.


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