Eur inr weekly-hit sell tgt 71.65 next monthly target 70.2

euro rupee futures outlook for next week 12 to 16 Dec. 2016

Euro rupee futures outlook for next week 12 to 16 Dec. 2016

Euro rupee future this week closed with loss at 71.6. In this week, euro was too volatile and given almost 2 rupee plus range means 3% range. Euro is in downtrend and hit my December sell target of 71.65. On downside next December swing short sell target is at 70.2.  

For next week, euro rupee future view remain sell on rise below 72.25 and my weekly target zones are 71 and then 70.35.

  For next week, eur inr future outlook remain weak and currency trading strategy remain sell on rise. This week we saw euro almost touched pivot level of 73.6 and resumed primary trend and hit my monthly target of 71.65.  

From long term view, euro rupee future below 72 remain weak and heading for long term support zones as well as my target of 66.55 rupee.

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Pramod Baviskar

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