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Mtechtips MCX-SX EURINR INTRADAY trading analysis 19-08-2015

Mtechtips MCX-SX EURINR INTRADAY trading analysis 19-08-2015
Mtechtips EURINR – Crucial support 72.30 below can sell with stop loss 72.45. Target 72.00 and below Euro traded down for the fourth consecutive day Tuesday as upbeat economic data in the US raised bets of a Federal Reserve rate hike in September, ahead of US retail inflation and minutes of Federal Open Market Committee meeting due Wednesday.Buy strategy given above 73.00 in EURINR was not initiated as after witnessing a gap down open at 72.3975 Vs 72.8050 pair settled at 72.56 levels. A high wave candle stick formation on EOD chart is indicating trend reversal may be witnessed in coming days. Further near term support is seen at 72.30 a break below only will expect to test 72.00-70.80.
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