December 4, 2016

Mtechtips MCX-SX EURINR INTRADAY trading analysis 20-09-2016

MTECHTIPS Euro traded little changed Monday as investors refrained from taking positions ahead of key central banks meeting this week.EURINR retraced more than 0.50% and settled at 74.89 levels. On the EOD chart a long bearish candle stick formation is yet indicating for bearishness in the pair, however it may remain limited ahead of U.S. FOMC meeting. On the upside, immediate resistance is seen at 75.35 sustain trade above only will expect to test 75.65.Pound traded up Monday as investors covered their short positions ahead of FOMC meeting outcome this week, even as fears of a rate cut by Bank of England in the coming months increased due to uncertainty about economic growth in the island nation following Britain’s vote to leave the European Union.

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