Euro rupee future & options technical analysis for 12 to 16 November 2018.
EURO INR Future Daily Chart Technical Analysis
Euro rupee future of November expiry on Tuesday closed at 81.97 with loss. On daily chart Euro rupee future price trend and momentum both are very bearish but looking oversold. Euro rupee future 5 day’s and 100 days averages are around 82.6 which will be now act as a strong resistance. On upside 83.55 is 50 days average levels and strong hurdles as well as target zones Euro rupee future on reversal short covering rally. Above 82.5 expect uptrend continuation towards previous highs. Euro rupee future hit November bearish swing target of 82.9 and now almost near second bearish target of 81.5!!
Euro rupee daily chart stochastics is bearish and in oversold zones so expect strong bounce back ahead. Euro rupee daily chart MACD is below zero with early near bottom signals.
For month of November, Euro rupee future below 84.7 will remain sell on rise and on downside technical target zones will be around 82.9 and then 81.5. Both the targets almost meet and now watch for fresh reversal and recovery rallies towards 82.9 and then possibly 84.7. Euro rupee future if slips below 81.4 & sustain then expect stronger rupee rallies and euro might fall up to 79.6 to 78 rupee on fresh strong selling!!
Euro rupee future weekly chart technical analysis
Euro rupee future on weekly chart showing losses for this week due to big fall in last 2 days of week. In last 5 weeks euro corrected from 86.1 to almost 81.5 means almost 4.5 rupee fall or 5% retracement from record highs. On weekly chart, Euro rupee future is in corrective mode and trading below 5 & 20 week’s averages which are around 82.7 and heading lower towards 50 weeks average which is at 80.6 suggesting strong correction due to recovering rupee.
From medium to long term view, Euro rupee future achieved 2018 buy targets of 80.4 and then 84.5 and now correcting towards 80.4. Below 80.4 expect deeper correction towards major long term support of 74.5 rupee. But if goes above 84.5 then expect super bullish trend and sharp short covering rally towards 90 to 94 record high levels.
Euro rupee future Weekly chart, stochastics indicator is around 42 with bearish crossovers and with sell signal. Weekly chart MACD is below zero and giving weak signals.
For genuine NSE Currency tips with support and follow ups, subscribe to our Forex advisory services.
Share It
BLOG AUTHOR
Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
0 comments:
Post a Comment