December 8, 2016

Mtechtips MCX-SX EURINR INTRADAY trading analysis 15-09-2016

MTECHTIPS Euro traded little changed during afternoon trades ahead of key central bank meetings due next week. EURINR retraced from the day high 75.59 and tested 75.15 before closing at 75.2925 levels.  On the EOD chart a strong reversal from 61.8% Fibonacci Retracement of its previous fall is yet indicating for bearishness in EURINR.  Hence, short term sell can expect around 75.45-75.50 for the target 75.25-75.00. Stop loss above 75.65. On the upside, immediate resistance is seen at 75.65 sustain trade above only will expect to test 75.95-76.10.

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