Quick Update on Currency Trade – Pair EURINR

On Hourly Chart – Price has started making lower Highs & Lower Lows indicating the downtrend. Head & Shoulder Pattern” clearly visible. Price has already broken the neckline. There is a Hidden Negative diversion also formed.My View is “Bearish” expecting the price to retrace to 71.75-71.60 levels if breaks the immediate support zone of 72-72.10. Below is the chart for the reference.

60 Mins Chart

Currency Update – Pair AUDUSD

Update for Currency Traders

Short Term View 

On Daily chart – Price has made a lower low and lower high indicating “downtrend”.There is “bearish flag pattern” formed inside the channel. There is a “hidden negative divergence” also formed.So my view is “Bearish” expecting the price to retrace to 0.725 – 0.715 range. Below is the Daily chart for the reference.

Daily Chart

Long Term View 

On Weekly chart – Price has made an “Inverse Head & Shoulder Pattern” and after breaking the neckline upwards, It is coming down to retest the neckline again. So my view is “Bullish”.
Buy on Dips around 0.725-0.715 range for a Target of 0.82-0.85 levels.Below is the weekly chart for the reference.

Weekly Chart


Ultratech Cement Has made a Shooting Star Candlestick Pattern at the Top of Weekly charts and RSI (14) also showing negative diversion.

Weekly Chart

On Daily Charts of Ultratech Cement, Rising wedge was broken and there is also an RSI (14) Negative diversion.

Daily Chart

Now, Looking at the patterns made ON Weekly & Daily Chart I’m Expecting a short-term correction to the levels of 4100-3900 range.