Forex Market News

Expect EURINR To Trade Lower Towards 74 Levels

The EURINR pair has been trading in descending triangle pattern and price has shown breakdown of its symmetrical triangle pattern at 74.80 levels on daily chart. Moreover, prices have been trading below its 21 DE- MA, which suggest short term trend is down.
The pair has shown breakdown of its horizontal trend line at 74.70 levels on daily chart. On daily chart momentum oscillator RSI have been trading below 60 which suggest bearishness in the prices. A momentum indicator MACD has shown negative crossover on daily chart, which add more bearishness in the prices.
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