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Dealmoney - Commodity Daily - 20-Mar-20	Download pdf

EURINR

EURINR has given a breakdown from Head & Shoulder pattern & price giving close below the neckline, implying bearish trend for the price. Meanwhile, the momentum indicator RSI at 33, also supportive of the bearish bias. Price is having an immediate resistance of 81.7, with an immediate support around the levels of 80.60/80.00 for the coming session. With the above analysis, we expect bearish bias to continue and sell on rise strategy could be implemented from the level of 81.9-82.2 with a protective stop loss above 82.5 with the target of 80.50/80.0.