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Mtechtips MCX-SX EURINR INTRADAY trading analysis 29-08-2016

Sunday, August 28, 2016 23:25

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Mtechtips MCX-SX EURINR INTRADAY trading analysis 29-08-2016

MTECHTIPS Sell around 76.15-76.25 Target 75.70-75.20 Stop loss above 76.40EUR-INR traded little changed and settled at 75.6650, down 0.44% as investors remained on sidelines ahead of Federal Reserve’s Chairwoman Janet Yellen’s speech at the annual Economic Symposium in Jackson Hole later today ignoring upbeat German data release. EURINR was unable to sustain above 76.10 and after hitting a high of 76.1625 retraced towards 75.58 levels. Since, February 2016 EURINR trading under symmetrical triangle and a break above the 76.40 is expect to give decent bullish rally towards 77.50-78.00 and above. On the other hand, failure of the breakout only could trigger correction towards 74.95-74.00 again.

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