October 27, 2016

Mtechtips MCX-SX EURINR INTRADAY trading analysis 14-09-2016

MTECHTIPS Euro traded little changed during European trades Monday as investors await comments from ahead of speech from key US Federal Reserve officials for cues on possible timing for the next rate hike.EURINR retraced from the day high 75.5950 and tested 75.222 before closing at 75.2550. On the EOD chart a strong reversal from 50% Fibonacci Retracement of its previous fall is yet indicating for bearishness in EURINR. However, pair would need to trade below its crucial support 75.20 it in order to test 73.80-73.65.Else, probability for momentum gain towards 75.55-75.75 could arise with stop loss below 75.20




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