October 25, 2016

Mtechtips MCX-SX EURINR INTRADAY trading analysis 06-09-2016
MTECHTIPS EURINR retraced from the weekly high 76.34 and settled at 75.1075 down 1.27% for the week. Euro remained broadly lower tracking to the strength of the greenback which gained on hope of upbeat US private jobs data. However actual data came below than expectation. Sell strategy given on rise 76.15-76.25 was successful with pair drop towards second target 75.20. This week, ECB meeting and Mario Draghi’s press conference may drag volatility on 8 September a turn back from the symmetrical triangle is yet indicating for bearishness in the EURINR. On the other hand, break above the 76.40 only could give decent bullish rally towards 77.50-78.00 and above.


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