Mtechtips MCX-SX EURINR INTRADAY trading analysis 23-12-2016

Mtechtips MCX-SX EURINR INTRADAY trading analysis 23-12-2016
MTECHTIPS Euro is weakening against Indian Rupee .Currently Euro is in strong downtrend and the trend is supported with good volume The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. The EURINR is now trading in oversold level. The EURINR is now trading in oversold level. The oscillator is showing SELL signal For short term Euro is in SELL position.Positionally Immediate support for EURINR is 70.3.Resistance for the EURINR is 71.68-72.2-72.56-73.19-73.9-74.28-74.97-
In medium term Euro is relatively strengthening against Dollar- Pound- In long term Euro is relatively strengthening against Dollar-
Short term and Intraday Level of Euro with Rupee
EURINR closed above 1 week high with volume signals up breakoutCurrently EURINR is in HOLD SHORT position EURINR is in sideways so for short term better buy above 71.493 or hold with stop at 70.58 The next resistance will be at 71.25 Yesterday the up movement was with volume this also confirm an up break out The EURINR is now trading is approaching oversold level. The EURINR is now trading is approaching oversold level. The oscillator is showing BUY signal
Intraday Trend- Buy above 71.493 and keep stop below 70.948 Target is 71.633 next 71.853 Below 70.808 trend reversal can occur and next level is 70.589
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