Currencies Technical Analysis

EUR INR

The EURINR would also complete 5 wave rise from the April low if the Euro ends a third wave rally att this level. A 38.2% retracement to 72.50 is normal

USD GBP

USDGBP – has been correcting slowly for long, as long as I have maintained that wave 5 up is next and should develop. The change is from the yellow smaller triangle I considered earlier to the larger blue falling triangle in wave 4 that maybe completing. The USDGBP should be bottoming near or above 0.758. Breakout from the triangle is above 0.782. And wave 5 has a longer term target near the upper channel and 5=1 at 0.90

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Views expressed in this article are purely of the author – Mr Rohit Srivastava – a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd

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