Mtechtips MCX-SX EURINR WEEKLY trading analysis 01-06-2015

Mtechtips MCX-SX EURINR WEEKLY trading analysis 01-06-2015
Mtechtips Euro- euro rupee this week closed with loss. this was second weekly loss for euro and medium-long term trend resumed to downside. this week nse euro rupee hit high around 70.39 while low was at 69.44. almost 1 rupee weekly range and closed with loss. in last 2 weeks period, euro lost almost 4 rupees gains on pure sell off. nse euro rupee is trading below major medium to long term averages with sell signal on weekly indicators. on upside 70.5 is 3 month average and 71 is 6 month average and will remain as strong resistances on weekly closing basis. weekly chart, macd indicators is above zero but with fresh sell signal.rsi slipped below 50 with fresh sell signal and cci is at 29 with bearish divergence. from long term view, nse euro rupee below 70 will remain sell for previous low of 68 to 65. if sustain above 70 on weekly closing basis then bounce back up to 72 to 74 is expected.
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