The Euro dropped in sympathy with the large sell off in Oil and Gold. Euro Sentiment has soured slightly as economic conditions continued to weaken suggesting there will be little decoupling from US problems. June CPI was confirmed at 4.0%. Looking ahead for the June HICP which is expected at 0.4% after jumping 0.6% last month.
TECHNICAL VIEW 17.07.08
EURO is expected to be on mixed note for the day. With the trading range expected between 1.5790-1.5900 levels. Good support is seen at 1.5770 levels and resistance at 1.5920.Momentum and stochastic are seen trending upwards .But currency is seen trading between the fast and slow moving averages.
EURO/INR: Expected to trade in red with the trading range of 67.20-68.35 Levels.
No comments:
Post a Comment