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.