EURINR Neo Wave Diametric Pattern

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 EURINR daily continuous chart


From the above daily continuous chart, prices are moving in a sideways to negative direction after a dynamic rise, this can be seen as a move to digest the recent gains. Also there is a certain percentage where prices can retrace, if not then reversal is the beginning orelse a correction. At present it has retraced 50% and it is likely to go and test 61.8%.

As shown in the chart, from Neo Wave perspective, prices are moving in a diametric pattern which has seven legs in it (a-b-c-d-e-f-g). Here in this case wave g is pending on the downside which can drag prices near till 87.6-87.5 levels.

The summation is EURINR is hovering near resistance and can sink near to 87.6-87.5 levels over short term.

 

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