euro to rupee daily chart technical analysis
euro to rupee spot pair last closed at 73.46 with loss.on daily chart like dollar euro is still comparatively strong against indian rupee.trading above all short term average with overbought indicators.
on downside euro to rupee week average is 72.9 and first support from short term view.below that 71.7 is month average while 71.2 is 3 month average and last support on chart.on indicators side on daily chart euro seems to overbought.euro to rupee after breakout at 71 we seen almost 3 rupee move in very short time.
euro to rupee weekly chart technical analysis
euro to rupee this week closed with huge gains.after last week reversal follow up demand for euro spurted it upto almost 74.this week euro to rupee euro made high at 73.75 while low was 71.54.total 2+ rupee week range and strong euro closing near highs.
on weekly chart all supports are way down.euro to rupee 6 month average is 71.06 and first support from long term view.below that 70.25 is 12 month average while 68.69 is 24 month average.on upside euro now in uncharted territory and supporting bull market.
euro to rupee indicators on weekly chart now near overbought conditions.
euro to rupee forecast for next week 3 to 7 jun 2013
for next week,euro may show correction and consolidation.so strategy remain buy near supports only with stoploss and on upside expect 73.9 to 74.5 as short term targets.72 levels will be good for re-entry from short term view.
from medium to long term view,euro heading towards 75-76 target zone but and as indicators near overbought condition expect some retracement and then continuation of bull run for euro.due to weak rupee ,euro now disconnected from eur/usd pair fundamentals.on downside 71 will be crucial support from long term view.