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Mtechtips MCX-SX EURINR intraday trading analysis 18-03-2013

Mtechtips MCX-SX EURINR intraday trading analysis 18-03-2013

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MTECHTIPS

Mtechtips MCX-SX EURINR intraday trading analysis 18-03-2013

Mtechtips eur/inr currency pair spot closed at 70.57 with flat losses in this week.this week euro rupee pair made high at 70.9 while low was 70.14,so total 76 paise volatility and recovering euro. on above weekly chart euro still in correction phase only momentum holding near support and may be show sharp reversal on short covering in next week. on upside 70.9 is 6 month level and strong resistance from which this week we seen sharp supply for euro.on downside 69.8 is 12 month level and then 68.2 is 2 years level and major supports. technically trend and momentum both bearish for euro but we do not suggest fresh shorts here.those hold shorts from upper level must trail sl above 70.9 and expect 69.8-69.5 in this week.i personally suggest wait and watch mode for next week.

WWW.MTECHTIPS.COM
07489294118-119
MTECHTIPS

Mtechtips MCX-SX EURINR intraday trading analysis 18-03-2013

Mtechtips eur/inr currency pair spot closed at 70.57 with flat losses in this week.this week euro rupee pair made high at 70.9 while low was 70.14,so total 76 paise volatility and recovering euro. on above weekly chart euro still in correction phase only momentum holding near support and may be show sharp reversal on short covering in next week. on upside 70.9 is 6 month level and strong resistance from which this week we seen sharp supply for euro.on downside 69.8 is 12 month level and then 68.2 is 2 years level and major supports. technically trend and momentum both bearish for euro but we do not suggest fresh shorts here.those hold shorts from upper level must trail sl above 70.9 and expect 69.8-69.5 in this week.i personally suggest wait and watch mode for next week.

WWW.MTECHTIPS.COM
07489294118-119

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Published by: MtechTips on Mar 18, 2013
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MTECHTIPS

Mtechtips MCX-SX EURINR intraday trading analysis 18-03-2013

Mtechtips eur/inr currency pair spot closed at 70.57 with flat losses in this week.this week euro rupee pair made high at 70.9 while low was 70.14,so total 76 paise volatility and recovering euro. on above weekly chart euro still in correction phase only momentum holding near support and may be show sharp reversal on short covering in next week. on upside 70.9 is 6 month level and strong resistance from which this week we seen sharp supply for euro.on downside 69.8 is 12 month level and then 68.2 is 2 years level and major supports. technically trend and momentum both bearish for euro but we do not suggest fresh shorts here.those hold shorts from upper level must trail sl above 70.9 and expect 69.8-69.5 in this week.i personally suggest wait and watch mode for next week. WWW.MTECHTIPS.COM 07489294118-119

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