EURO Rupee Future Daily Chart Technical Analysis
Euro rupee future of December expiry on last trading session closed at 80.83 with gain. We saw sharp recovery from 79.5 lows towards major level and recovery target zone of 81.2 rupees in this week. Euro rupee future daily chart price trend still down but indicators are bullish and suggesting euro recovering towards 81.2 -81.5 zone. Breakout above 81.2 means strong euro and weaker rupee for price targets of 82.75 and above. If euro fails to cross 81.2 then expect fresh low up to 78.15 rupees. Traders with long positions keep trailing stop loss and expect targets 81.2 to 81.5 in next week. Above 81.2 there will be another buying opportunity with stop loss for targets 82.75 and above till this month end.
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 7 weeks continues sell off. Euro is retracing towards major weekly averages after making low around 79.6. On weekly chart euro looks deeply oversold so expect big upside in medium to longer terms. Above 80.4 on weekly closing basis, euro can recover up to 84.4 in medium terms. If slips below 80.4 then traders can go short with stop loss for medium to long term target of 74.3 rupees.
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