Mtechtips MCX-SX EURINR INTRADAY trading analysis 10-10-2016
MTECHTIPS Sell below 74.20 Target 73.65-73.20. Stop loss above 74.45.
Euro weakened after the release of European Central Bank’s (ECB) September monetary policy meeting that dashed fears of tapering by the central bank to the world’s largest monetary union. It also indicated that the central bank is committed to maintain its massive bond buying programme until the end of Mar, “The minutes of the ECB meeting on 8 September provided no encouragement for talk of asset purchases being ‘tapered’ soon. on the weekly chart EURINR trading on verge of symmetrical triangle (continuation) pattern, which is holding since February 2016 which saw a consolidation in between 77.94-75.63 levels.This week a break below 74.20 could witnessed decent fall towards 73.50-73.00.