Mtechtips MCX-SX EURINR INTRADAY trading analysis 12-09-2016
MTECHTIPS Buy above 75.55 Target 75.85-76.10. Stop loss below 75.25 EURINR found strong support after policy makers at the European Central Bank opted not to make any changes to the ECB monetary policy, keeping its asset-buying policy steady at 80 billion Euros per month.For the first time in two years, ECB President Mario Draghi neither announced new stimulus measures nor signaled if they were in pipeline after the bank’s decision to maintain its current bond-buying policy. after hitting a low of 74.4875 in start of the week, EURINR saw a pullback towards 75.4225 and settled at 75.40 levels. On the weekly chart a long bullish candle stick is yet indicating for bullishness in the EURINR, but pair would need to trade above 75.55 in order to test 75.85-76.10.