EURINR: Impulse wave

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 EURINR daily chart


As seen in the above chart, prices have crossed its series of tops at 91.5-91.70 levels which was acting as a crucial resistance. The pair crossed this resistance decisively and closed above it on strong footing giving an strong indication that the trend is positive and can move higher going ahead. There can be a counter correction coming into this pair which can be utilized as a buying opportunity.

From Waves perspective, prices have completed wave 1/A and 2/B and has opened wave 3/C which can move higher from here. Also wave C or 3 will be impulsive in mature where wave 1 of wave C/3 is on the brink to complete that can start wave 2 lower near to 91.00 levels which can be a buying opportunity.

The summation is EURINR is positively poised and can move higher once there is a dip close to 91.00 levels for the level of 94.50.

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