EUR INR future weekly : headng towards my given tgs 73.05 and 71.2

eur inr future weekly technical analysis for 7 to 11 march 2016

eur inr future weekly technical analysis for 7 to 11 march 2016

Eur inr future this week closed with loss. This was third losing week for euro. In last 3 weeks timeframe euro tumbled from top of almost 77 to low of 73.5. Loss of almost 3.5 rupee or 5% drop on account of weak euro and recovering rupee.   For next week, euro might continue to trend downside. My targets are at 73.05 and then possibly 71.2. Below 75.5 outlook and strategy remain on short side.   For 2016, 71.8 is major support level for eur inr future. Above it euro will remain bullish and buy but current move suggest, euro might test this support in upcoming weeks.

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Pramod Baviskar

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