Euro Rupee weekly forecast 17 to 21 March 2014

Euro Rupee weekly forecast, predictions,  price analysis, technical analysis,charts and tips for 17 to 21 March 2014. 

Euro Rupee daily chart technical analysis

Euro rupee spot on last trading session closed at 84.92 with loss. On daily chart, euro price trend is bullish against Indian rupee but trading in range. Daily chart indicators patterns are also mixed. For next week, above 84.7 keep long view for euro and expect targets of 85.4 and then 85.95. These also are resistance levels for next week. On downside below 3-month average of 84.7 next support zones are 84 and 83.4.

Euro Rupee weekly chart technical analysis

Euro rupee spot this week closed flat. This week EUR INR low was at 84 while high was at 85.31. Total 1.31 rupee or 1.5% weekly range and closed flat as consolidation continues. Weekly chart price trend and momentum both are bullish. 83.75 is its 6mkonth average and first support on downside below that 81 is 12 month average and next major long term support for euro against Indian rupee.

On upside 86 and 88 are major weekly chart resistance zone and still targets for euro in medium to long terms.

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Pramod Baviskar

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