EURINR 5th Wave starts

 EURINR 4 hour chart spot


In the above chart, the pair is moving in a higher highs and higher lows which is a positive formation. Currently prices are moving precisely in a rising channel and it is near to the support of the channel. On the downside it has a very crucial support of 87.40 levels, which I think will be protected (closing basis).

RSI has enough vacuum on the upside which can take prices higher going ahead.

From Waves perspective, prices are moving in wave v in which it has completed wave i and possibly wave ii. This will unfold wave iii of wave v higher near till 89.50-89.90 price range. The bias remains positive for the pair.

The summation is EURINR will continue to move higher with support of 87.40 (closing basis) and on the upside it can test the price range of 89.50-89.90 levels.


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