Mtechtips MCX-SX EURINR INTRADAY trading analysis 21-10-2016
MTECHTIPS The euro fell to four-month lows against the dollar in volatile trade on Thursday after European Central Bank President Mario Draghi indicated that an adjustment to the banks stimulus program could come in December.EURINR recovered from the day low 73.1925 and settled at 73.4650 levels. On the EOD chart pair still trading below its short term SMA which yet indicating for bearishness in days to come. However, a long bullish candle stick may witness momentum gain before next bearish move. Hence sell on rise around 73.65-73.75 could expect in days to come. Stop loss above 73.90.