February 20, 2017

Mtechtips MCX-SX EURINR INTRADAY trading analysis 05-08-2016

MTECHTIPS Euro extended fall after Bank of after the Bank of England slashed its interest rates for the first time since 2009 to counter economic consequences of UK’s historic exit from the European Union last month.EURINR retraced from the day high 75.5725 and settled at 74.81 levels. Intraday price action resulted in formation of Bearish engulfing pattern which is indicating for bearish trend reversal in EUIRNR. Further, massive resistance is seen at 75.60 and pair would need to trade above this level in order to test 76.00 and above.Sell around 74.80-74.85 Target 74.40-74.25. Stop loss above 75.00.


Comments are closed.

NOTE : You are advised to take your position with your sense and judgment.The views and investment tips expressed by users on MCXStar.com are their own, and not that of the website or its management. MCXStar.com advises users to check with certified experts before taking any investment decisions. If any other company also giving same script and recommandation then we are not responsible for that. We have not any position in our given scripts. Visiting our web one should by agree to our terms and condition and disclaimer also. All credit goes to original authors of post on this website. Website owner is not responsible for any loss due to your own decision or judgement. Thanks for Visiting our Website.