GBPINR Elliott Wave Analysis

 GBPINR daily fut chart

GBPINR hourly fut chart

From the above daily chart, Cable has just crossed its previous resistance level marked by horizontal line and it is currently trading above it, a sustainable move above this level will infuse buying pressure soaring it above its recent high. RSI which has relieved from overbought zone is now picking up momentum.

As per hourly chart, the pair is moving in a higher highs and higher lows and it is on the brink to cross its previous high. Also there is least possibility for prices to move down from current levels as it is positively poised.

Elliott Wave theory suggests that, prices are moving in wave v in which it is on the brink to complete wave iv of wave v of wave c, once this is completed wave v of wave v will start surging it ill 101 levels.

The summation is GBPINR is all set to move in a positive direction and can cross its previous high in coming trading session ending it near to 101 levels.


Learn Technical Analysis in our 4 month course to help you to identify better trade setups. This course will be conducted every twice in a week for around 2 hours. This theory can be applied on all free floating markets. In this course learn from basic to advance and the fees for the same will be Rs. 12,000/-

Elliott and Neo Wave analysis is conducted for 1 month, this is an advance technical course suited for professional traders. Twice a week, 2 hours will be given for theory as well as practical application. The fees for it will be Rs. 10,500/-.

Classroom training and webinars both are available. If you reside in Mumbai, classroom training is conducted in Vile Parle near station and Borivli Station. For inquiry and registration call +919324174580.


Popular posts from this blog

USDINR: Will it cross 83.00?

Nifty in Ending Diagonal Pattern?

GOLD and Elliott Wave Counts