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Mtechtips MCX-SX EURINR INTRADAY trading
analysis 04-08-2016
MTECHTIPS
Euro traded down during
mid-European trades Wednesday on uncertainties ahead of Bank of England's
monetary policy decision due tomorrow amid tracking strength in the greenback
against other major currencies. EURINR extended its recent recovery and settled
at 75.39, with gain of 0.41%. A long bullish candle stick formation on EOD
chart is yet indicating for bullishness in EURINR, but pair would need to trade
above 75.52 in order to test 75.80-76.00 which is coincide with 38.2% Fibonacci
Retracement of precious fall (77.72-74.1550 else, pair may retraced towards 74.90-74.75 from
every rise towards 75.35-75.40.
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