Euro rupee future of September expiry with strong gap up opening hit my bullish swing target of 76.5 and recorded intraday high around 76.57 and closed at 76.5 exactly. Before this move we saw healthy consolidation which was accumulation phase for investors while speculators hand trapped with this move which might fuel rally in short terms. Now above 76.5 my next resistance as well as bullish swing target for euro is around 77.4. On downside 76.2 and 75.8 are strong support zones as well as re-entry zones with strict stop loss for upside target.
Euro rupee future for august 2017 opened strong and holding above 75 rupee support zone with bullish outlook. And this week we saw high up of 76.57 in September expiry future and 76.5 target is done. On weekly chart showing long term breakout above 76 for upside target of 80.7 rupees..
Daily chart set up showing, euro is in strong uptrend with strong bullish momentum. Euro rupee daily chart, prices taken multiple supports at 20 days average and moving away which was strong bullish sign and now above 5 days average level of 75.87 rupee at medium term high level. On downside 74.41 is 20 days average level and 74.5 is 50 days trend support level. On this chart, RSI level is now 69 and entering overbought zone. MACD is above zero and now formed rounding bottom.