Euro rupee Future Daily Chart Technical Analysis
Euro rupee future of January expiry on last trading session closed at 80.65 with loss. We saw recovery from low of 79.5 and euro inching slowly and steadily towards 81 rupee mark. For month of January, 81 rupee will remain as major hurdle for euro. If euro cross that level with price action and on volume then expect 82.4 and then next target of 84+ in this series. But if fails ad gives reversal below 81 then that will be selling opportunity and euro might show lower levels up to 79.25 to 77.85 rupees. But daily chart indicators are coming off oversold zones and with bullish divergences so expect upside for euro and follow buy on dips strategy with strict stop loss.
Euro rupee future weekly chart technical analysis
Euro rupee future on weekly chart showing gains for this week. This was first gaining week for euro after last week’s sharp selloff due to stronger rupee.
From 2019’s long term view, euro is in downtrend and below 81 rupee level will remain weak and sell. But if cross 81 on weekly closing basis then expect 85.8 rupees and then possibly new high of 91 rupee plus in 2019. But if sustain below 81 then expect this downtrend to continue towards levels of 75 and 70 rupees. Weekly chart indicators and oscillators are bearish but oversold so expect big rally ahead!!
Euro rupee future monthly chart technical analysis
Euro rupee future on monthly chart showing gain for this month. This was first gaining month for euro after big losses in October and November. In December, we saw recovery in euro from almost low of 79 rupees to highs near 83 rupees. Here 79 bottom will remain important of monthly chart and on upside 86.5 top will act as resistance level.
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