The Euro – single currency has been influenced by many a factors with nothing much to add from its self. Trump’s Trade tariffs or upbeat speech from Powell are adding to the woes of Euro. The pair is getting hammered and the key resistance level of 1.17 is being tested time and again. From the current level of 1.1627, not much would be needed to get euro below 1.1571, support at 76.4% retracement level on a daily chart.
The technical analysis indicators, 20 day moving averages are pointing towards a drop in the short term. The Stochastic Relative Strength Index (RSI) is also indicating a fall though after a few trading sessions. MACD Momentum indicator is hovering around the zero base line not giving much direction.
After attempting to test 1.17 again, probable sighting of 1.1571 should be there.
22 Apr 2019 06:20 PM
On the daily chart - it is found that the prices have finally broke down the converged
18 Apr 2019 06:45 PM
After posting superlative gains in March, due to resurgent FII inflows, rupee has been range-bound
16 Apr 2019 06:10 PM
With a look at Silver chart shows that price action took resistance at $14.92 levels in July’18, October’18
15 Apr 2019 05:46 PM
A look at the daily chart is showing that USDINR is trading in between the range of a downward sloping trend channel
12 Apr 2019 06:53 PM
Indian exporters are a worried lot these days. USDINR around 69, EURINR at 78 and GBPINR near 90-91
11 Apr 2019 06:26 PM