EUR INR Monthly report for November 2016

Free euro rupee monthly tips for nov 2016

Free euro rupee monthly tips for nov 2016

EUR INR November expiry last closed at 73.75 with gain. Euro is recovering from low but still in downtrend. For month of November, euro rupee major level is 73.8. Below this level euro will remain weak and sell. On downside 72.5 and 71.35 are major support zones as well as target levels for eur inr in November series if downtrend persist. Above 73.8, eur inr future become bullish means strong euro and weak rupee. Above this level, trading strategy will be buy on dips with stop loss for targets 74.9 and 76.2.   Current eur inr daily chart price patterns as well as indicators patterns suggest euro likely to enter bullish trend against rupee in short to medium term view. Previous major bottom was at 72.75 will be act as strong support area on downside. On upside eur inr future month of November targets are 74.9 and 76.2+. Positional currency traders use dips to buy and accumulate in eur inr future with stop loss below 72.75 and expect targets 74.9 and 76.2.   Eur inr weekly chart price as indicators pattern suggesting, euro has made medium to long term bottom around 72.75 and now heading towards long term target of 78 rupee. Currency investors from here keep buy and accumulate view for euro rupee pair and keep target at 78 with stop loss below 72.75.

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Pramod Baviskar

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