December 4, 2016

Mtechtips MCX-SX EURINR INTRADAY trading analysis 19-08-2016

MTECHTIPS Euro extend gains for the fifth consecutive trading session Thursday tracking weakness in the greenback on fading hopes of a Federal Reserve rate hike in the near term after minutes from the Federal Reserve’s July meeting showed policymakers would go slow in terms of a near-term rate hike.EURINR settled with a gain of 0.31% at 75.7350.  A Long bullish candle stick formation is indicating for further upside move in EURINR.  Further, pair would need to trade above 75.95 in order to test 76.10-76.35. Stop loss below 75.80.

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