euro to rupee predictions for 20 to 24 may 2013

euro to rupee daily chart technical outlook

euro to rupee or eurinr spot pair last closed at 70.38 with loss.on daily chart eurinr pair is in downtrend on weak euro and momentum also building on short side.on upside 70.58 is week average and first resistance on chart.above that 70.67 is month average and 70.77 is 3 month average.

on downside,70.1 and 69.4 are support levels.on indicators eurinr cci level is –102 and with bearish divergence while rsi below 50 with sell signal.


euro to rupee weekly chart technical outlook

euro rupee pair on weekly chart showing cut in this week.this week eurinr made high at 71.32 while low was 70.22 total 1+ rupee move on trading below 6 month average of 70.77 while on downside 70 is 12 month average and first support while below that 68.53 is 2 years average and last support on chart.on indicators eurinr cci level is –65 with bearish divergence while rsi is at 50 and near downside breakout?

euro to rupee predictions for 20 to 24 may 2013

for next week below 70.8 hold sell on rise view and expect 70 to 69.5 as downside target zone.if closed above 70.8 then we may see sharp reversal here and upside levels upto 72.5 to 73.

from medium to long term view,eurinr broadly trading in range and showing consolidation phase.but over all outlook for euro still positive and near major support there is investment opportunity with stoploss.upside targets of 73-74 still possible.

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Pramod Baviskar

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