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Mtechtips MCX-SX EURINR INTRADAY trading analysis 19-10-2016

Tuesday, October 18, 2016 23:02
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Mtechtips MCX-SX EURINR INTRADAY trading analysis 19-10-2016

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MTECHTIPS Euro extended gains during mid-European trades Tuesday tracking weakness in the dollar index as dismal economic data from the world’s biggest economy dimmed prospects for the Federal Reserve to raise interest rates in December even as investors await European Central Bank (ECB) monetary policy meeting on Thursday.Also, European Central Bank is scheduled to announce its interest rate decision on Oct 20.EURINR settled down by 0.09% at 73.5625. Short Term trend expect to remain volatile ahead of ECB meeting. Further, today correction is expect to come only below its immediate support 73.40 and target would be 73.00-72.65, else momentum upside move towards 73.80-74.10 could take place before any bearish move.

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