Mtechtips MCX-SX EURINR INTRADAY trading analysis 16-03-2017

Mtechtips MCX-SX EURINR INTRADAY trading analysis 16-03-2017
Mtechtips :- Euro is weakening against Indian Rupee .Currently Euro is in strong downtrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend . In last few days volume based selling happened in the Euro 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 BUY signal For short term Euro is in HOLD SHORT position.Positionally Immediate support for EURINR is 69.39.Resistance for the EURINR is 70.92-70.99-71.34-72.06-72.13-72.49-73.96-
In medium term Euro is relatively strengthening against Yen- Dollar- Pound- In long term Euro is relatively strengthening against Dollar- Pound-
Short term and Intraday Level of Euro with Rupee
Currently EURINR is in HOLD SHORT position EURINR is in sideways so for short term better buy above 70.35 or hold with stop at 69.665 The next resistance will be at 70.965 The EURINR is now trading is approaching oversold level. The EURINR is now trading is approaching oversold level. The oscillator is on BUY Signal and EURINR is recovering from oversold level
Intraday Trend- Buy above 70.35 and keep stop below 69.76 Target is 70.521 next 70.791 Below 69.591 trend reversal can occur and next level is 69.321
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