Mtechtips MCX-SX EURINR INTRADAY trading analysis 18-10-2016
MTECHTIPS Euro traded off 11-week lows Monday as investors covered their short positions in Euro ahead of European central Bank meeting later this week. Investors await the ECB meet as they seek clarity on recent reports that stated the central bank may considering tapering its asset purchase program in coming months.EURINR has stalled its recent bearish trend and after hitting a low of 73.4475 rebounded towards 73.6950 levels. Short Term trend expect to remain volatile ahead of ECB meeting. Further, correction is expect to come only below its immediate support 73.40, else momentum upside move towards 73.80-74.10 could take place before any bearish move.