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EURINR

EUR/INR Price AnalysisDue to Geopolitical tensions, the value of the Euro is expected to rise in comparison to INR. The currency pair has broken out and is looking to retest before continuing with the up move. So It would be a good idea to enter in a retest and expect a reversal rally. 200 EMA also acts as a firm dynamic support. Supports are marked in Green and Resistances in Red. In case of breakdown, we can expect the pair to dip towards the 77 mark. Forex Trading Positions betting on currency value depreciation can also act as a Hedge for Long Positions in Indian Equity Swing Trading. So it would be a good idea to go long on Retest and wait for the pair to break out of the smaller triangle pattern. Long @ 82.55 Stop Loss @ 80.05 Target @ 87.55 Risk Reward Ratio 2:1 Selling Put Options near the Support Options with Hedge could also be a good strategy. Note: Views are personal, Not Responsible for P & L. DYOR before trading/Investing.
by tradewidmufeeth
EUR INR co-relation with US Dollar IndexAs you see in the chart, EUR/INR price has -ve co-relation with US Dollar Index movement. This means that when there is sharp movement seen in US Dollar index, the reverse movement happens in EUR/INR. Although there are many factors that affect currency movements but this indicator is very helpful to estimate medium-long term direction of the currency pair. However, it doesn't mean that EUR/INR does exactly opposite to US Dollar index every day. It just means that over medium to long term it goes in the opposite direction to US Dollar Index. Currently, US Dollar index looks very strong as it broke a long term resistance zone. However, it has reached another strong resistance zone (97-98 level) and is expected to take a pause around these levels or maybe correct to 94-95 levels before resuming upward journey. This means, the steep fall that we saw in EUR/INR recently can at least pause for a while or we may see some rebound happening back to 85 levels before EUR/INR resumes its downtrend towards 81-82 levels. This is not a trading idea but it is relevant for people who want to transfer EUR to INR or vice versa so that that they can make an informed choice when to transfer.
CAPITALCOM:DXYEducation
by adiz8001
EURINR - Next upward rally to startEURINR has been around the lower edge of a rising channel. It has not been able to break it since last few sessions. One reason for same could be a support area near the the trendline of the channel which was acting as a resistance during the last few weeks. I expect the EURINR pair to rise from here and reach to levels of around 90.50. It would be interesting to see if it can break this upward trendline this time and rise to another trendline that has been there since March 2020.
Long
by rjoshicool
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