December 10, 2016

Mtechtips MCX-SX EURINR INTRADAY trading analysis 12-08-2016

MTECHTIPS Euro snapped three-day gains Thursday as dollar strengthened after data from the world’s largest economy showed better-than-expected jobs openings in June.EURINR retraced from the 38.2% Fibonacci Retracement and settled at 74.70 levels. A long bearish candle formation is creating probability for the correction towards 74.35 and below.¬† Further, immediate resistance¬† is seen at 75.10 and sustain trade above only will expect to test 75.35-75.50

Sell around 74.75-74.85. Target 74.50-74.25. Stop loss above 74.95.

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