Currency market-Eur inr achieved swing tgt 73.3 next is 74.85

Currency market-Eur inr achieved swing tgt 73.3 next is 74.85

Euro rupee future technical analysis

Euro rupee future today closed at 73.16. Euro rupee future achieved my given target of 73.3. We saw weak opening in month of January but then on value buying as well as good fundamentals euro seen trend reversal. after breakout above 71.95, euro was heading for targets 73.3 which is achieved and now next target will be 74.85 if sustain and breakout above 73.3 on daily closing basis.   From long term view, euro is at make or break point against rupee. If gives weekly closing above 73.35 then expect bullish long term trend for euro and investment target of 76.1 and then 80.7. Failure will result in downtrend continuation for targets 68.7 and below.

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Pramod Baviskar

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