Mtechtips MCX-SX EURINR INTRADAY trading
analysis 23-08-2016
MTECHTIPS
Euro traded down for
the second trading day Monday tracking dollar strength against other major
currencies following hawkish comments from key Federal Reserve officials that
boosted likelihood of US rate hike this year.After hitting a low of 75.78,
EURINR saw pullback and tested 76.00 before closing at 75.9925 levels. On the
EOD chart pair yet trading above the 113% Fibonacci Retracement which is
indicating for upside move in EURINR.
Further, pair would need to trade above 76.00 in order to test
76.10-76.35 then 76.55. Stop loss below 75.85
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