Market Analysis With Megh Mody

EURINR is moving in a positive direction after forming a bottom of 65.74 on 13 th April 2015. As of now prices are moving in stiff range of 74-77 levels. Currently the pair is protecting the level of 74 and can move closer till 76.70-77 levels over short term. Faster retracement from the top will give first indication of a reversal, followed by breaking of 74. A sustainable move below 74 will open the possibility of 69-70 levels over medium term (2-3 months). From wave perspective, EURINR is moving in a diametric pattern, which has seven legs in it (a-b-c-d-e-f-g). Diametric formation is a complex structure which is difficult to identify, as at first it will look like a expanding triangle and then it will form contraction. Currently EURINR is in the last leg of diametric pattern which is wave “g”. This wave is corrective in nature though it can also form more complex structure going ahead. To conclude, EURINR is expected to move higher closer to 76.80-77 levels in near term

The next tutorial for Elliott Wave and Neo wave concepts will be scheduled on 23rd and 24th April 2016. This will be a webinar set for two days 6 hours each. The course fee will be 6000/- for two days. Requirement for Webinar w ill be Team Viewer 7, Yahoo messenger and Headphone and Mic. Interested candidate can mail me for further details on meghmody@gmail.com

This excerpt is taken from "The Commodity Waves" which is a daily publication, published before the market opens. MCX Silver has formed a .... pattern at ... levels. On ..., prices reversed from the high of .... and closed at day’s low ..... For a .... to complete, it is important for prices to break the level of .... on the .... From Wave perspective, prices are moving in a .... pattern. A..... all are internally .... in nature. As of now prices have completed wave ... at .... levels and will start wave .... in the ..... In short, the bias is.... this bullion metal as it will test the level of ....levels in near term. Breach of .... will open further negative ... MCX Silver Daily 1st month contract

We were continuously saying that USDINR is expected to dip till 66.50 levels from 14 th March 2016. On Friday, “we will continue to be negative for this pair as it can move down till 66.50 or even lower.” the pair closed at 66.50 levels- Anticipated happened. As shown from the above daily chart, the major trend continues to be positive for this pair as it is moving in a higher high and higher low formation and prices are persisting in the rising channel. To change the trend from positive to negative, it is imperative for prices to break the rising channel and also break the level of ... decisively From wave perspective, the pair has opened wave ... on the downside. Wave ... is ... in nature and will have ... waves in it.  In short,...... USDINR Daily anticipated on 6th March Happened on 18th March 2016.

The next tutorial for Elliott Wave and Neo wave concepts will be scheduled on 26th and 27th March 2016. This will be a webinar set for two days 6 hours each. The course fee will be 6000/- for two days. Requirement for Webinar w ill be Team Viewer 7, Yahoo messenger and Headphone and Mic. Interested candidate can mail me for further details on meghmody@gmail.com

This excerpt is taken from our daily publication "The Forex Waves" dated 8th March 2016 , In which we had mentioned that “ resilience can be observed in this pair which can take prices near till 96.60 levels over short term.” The pair on 11 th March 2016 made a high of 96.61 thus achieving our above mentioned level. GBPINR which is negatively poised is currently showing some strength in order to relieve from the oversold zone. It can possibly reach near to the resistance of the falling black channel which is placed at ... levels. As per Wave theory, prices are moving in a .... pattern. The current up move is slow which can be termed as wave .., also it is corrective in nature. This leg can extend going ahead as it is clear that wave ... of wave ... has open up. In short, we will continue to be .... in this pair as it can move near to ... levels. GBPINR Anticipated on 8th March 2016 Happened on 11th March 2016

In last six sessions USDINR has dropped from 68.80 to 67.07 levels thus shedding 2.51%. However, the channelized move continue to suggest that the trend is positive, but it is clearly stating that the channel support will be tested and can possibly break going ahead. Last week the retracement from the top was faster, thus engulfing previous four week bars on weekly charts, indicating that the trend has changed from positive to negative for this pair. The next support will be at 66.50 levels. Any move below the support of the channel will open further negative possibilities and can start stealth bear trend. From wave perspective, prices from the bottom of 2014 till the top of 2016 moved in a complex correction pattern. The recent three legs before the steep fall completed wave... of wave ... of wave... Now the next leg on downside has started. In short, after breaching 67.50 levels, prices now can test the level of 66.50 going ahead. Any move below .... will make this pair