Euro rupee Currency futures technical analysis for 26 to 30 November 2018.
EURO INR Future Daily Chart Technical Analysis
Euro rupee future of November expiry on last trading session closed at 80.71 with huge loss. We saw sharp surge in rupee and all cross currencies seen heavy selling on account of this. Tis week we saw high around 82.3 and then downside big move on stronger rupee. Euro rupee future looking oversold and ahead expect upside in euro. Watch 81.4 level as strong hurdle, below it expect downside for euro up to 79 and below. If closes above 81.4 then expect rally up to 83 to 84.5. Daily chart indicators and oscillators are oversold but still with bearish divergences. Below 81.4, expect deep downside up to 79.6 to 78.2.
Euro rupee future weekly chart technical analysis
Euro rupee future on weekly chart showing losses for this week. This was sixth losing week for euro and in these 6 weeks we saw euro corrected from 86+ to below 81. This week we saw almost 2 rupee drop from the highs.
From long term view, euro is in correction phase and heading lower towards supports of 80.4 and 74.3 rupees. Weekly chart indicators and oscillators are approaching oversold zones so expect some recovery in euro ahead. If euro slips below 80.4 then expect 74.3 for sure in medium to long terms.
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