Bored of Indian Markets, looking at the Forex charts. Although, I don’t trade them … Forex markets are highly liquid and traded 24 x 5 so, very convenient for traders around the world. But, I’ve heard that its not legal to trade, except for the currency pairs offered by Indian brokers they are USDINR, EURINR, GBPINR & JPYINR and volumes are not all that attractive.
Any case, below are GBPUSD Weekly Chart and EURUSD Daily chart
GBPUSD – A long contracting triangle which means consolidation for a big move once that triangle is broken. I think we will go UP at least till 1.85 levels post break of the triangle
EURUSD – broken from triangle formation, 1.274 is the resistance and think we will visit 1.26 levels
GBPUSD Weekly
EURUSD Daily
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