February 25, 2017

Mtechtips MCX-SX EURINR INTRADAY trading analysis 08-09-2016
MTECHTIPS Euro traded little changed during mid-European trade Wednesday as impact of weak dollar was offset by the disappointing German industrial output. The focus is on ECB policy decision tomorrow and (ECB President) Mario Draghi speech.Dollar little changed against its major rivals ahead of the European Central Bank interest-rate policy. Market expects the ECB to leave interest rates unchanged while announce quantitative easing program later in today. EURINR was unable to break its support 74.45, and witnessed 0.45% recovery rally yesterday. A long bullish candle stick formation on EOD chart is indicating for further upside move in the pair. Further, massive resistance is seen at 75.10 and a break above will expect to test 75.35-75.70, else EURINR may test 74.85-74.60 its immediate support.


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