Mtechtips MCX-SX EURINR INTRADAY trading analysis 19-06-2017


 

Mtechtips MCX-SX EURINR INTRADAY trading analysis 19-06-2017

Mtechtips EURINR – Bearish below 70.35 EURINR  has stalled it fall on Friday and recovered towards 70.7575 from the weekly low 70.58 as investors covered their short-term profits taking advantage of the sharp slump in the currency pair amid mixed Euro zone data release. Technical, EURINR remained as per the sell strategy given around 71.00-71.10 was almost hit first predicted level of 70.50.  Weekly chart still looks negative as pair yet trading below 161.8% Fibonacci Retracement of its July – Aug 16 gains. Hence, any rise towards 71.85-72.00 may attract huge selling activities for the target 70.65-70.20. On the other hand; pair would need to break 72.25 in order to test 72.85-73.10

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