Mtechtips MCX-SX EURINR INTRADAY trading analysis 21-01-2016

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Mtechtips MCX-SX EURINR INTRADAY trading analysis 21-01-2016

Mtechtips Euro gained more than 1.04% for the second straight trading session Wednesday on expectations that the European Central Bank may not ease at policy meet tomorrow amid weakness in the dollar. The European Central Bank is scheduled to conduct its monetary policy meet Central bank did reveal a policy stimulus. After hitting a high of 74.7875, EURINR saw a pull down and settled at 74.21. Intraday price action resulted in formation on inverted hammer which is indicating for trend reversal in EUR. Today, correction is expect to come below 74.15; else any rise towards 74.80-75.00 could attract huge selling activities.

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