eurinr report for 15 to 19 july 2013

eurinr report for 15 to 19 july 2013

 

eurinr daily chart technical analysis

eurinr spot last closed at 78.18 with loss.on daily chart euro rupee pair trend and momentum both bullish.euro still trading above all averages against rupee.on chart 77.85 is week average level and first support on downside.below that 77.25 is eurinr month average and 75.1 is 3 month average level.

on indicators,usdinr cci is +29 and with bullish divergence.while rsi is at 59 and still with bullish divergence.on strong rupee we seen dip upto 77 but sharp recovery in euro against us dollar still holding buying demand!!

eurinr weekly chart technical analysis

eurinr this week closed with gains.this week euro rupee made low at 76.57 while high was at 78.88.total 2+ rupee week range and strong reversal rally in euro.

on weekly chart eurinr trend is strong bullish while momentum is mixed on account of correction.on chart 79 is major top and remain strong resistance point.while on downside averages support is way down in between 73 to 70 zone.

on indicators,eurinr cci is +170 and forming bearish divergence while rsi is at 65 and still with bullish divergence.

eurinr report for 15 to 19 july 2013

for next week,eurinr outlook remain bullish and strategy remain buy on dips.on upside keep targets at 79-80 and on downside buy near support 77 and on deeper correction at 75.

from medium to long term view,eurinr still remain buy and expect target 80+ in medium terms.for fresh investment must wait for deeper corrections.euro still trading near highs so keep long open for target 80+ with trailing stoploss below 76.

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Pramod Baviskar

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