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Mtechtips MCX-SX EURINR INTRADAY trading analysis 20-10-2016

Wednesday, October 19, 2016 23:11
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Mtechtips MCX-SX EURINR INTRADAY trading analysis 20-10-2016


MTECHTIPS Euro traded up during mid-European trades Wednesday on expectations that European Central Bank President Mario Draghi will maintain statu-quo at policy review tomorrowThe European Central Bank is to meet at 6pm today to announce its decision on interest rates for revival of its economic activity. Investors widely expect the ECB to maintain a status quo while confirm to continue buying EUR80 billion of government bonds until at least MarchEURINR had a volatile to negative trade yesterday and settled at 73.30 levels. On the EOD chart pair still trading below its short term SMA while forming long black candle stick which yet indicating for bearishness in days to come. However, European central bank to hold its monetary policy today evening and expectation that ECB expected to maintain status-quo could bring momentum upside move before next correction.



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