Dollar Index
As expected... Dollar Index crashed vertically and made a
low of 92.62. Our downside target was 92.50. We are holding short from 97.80
mark.
Now what to expect???
Support at 92.50 and Resistance at 95.00---96.50
Now we will do fresh selling below 92.50 mark else it could
test its resistance level of 95.00---96.50. Further upside rally seen only
close above 96.50 mark
Three consecutive closes + weekly close below 92.50 will see
further panic till 89---88 mark in days to come
Take a risk and buy Dollar Index with stop loss of 92.50 on
closing basis. We will expect reversal in it
EUR
Skyrocketed and made a high of 1.1714. Holding long from
1.09 mark. Our target was 1.17---1.18
Now what to expect???
Support at 1.15 and Resistance at 1.18
Further upside rally seen only close above 1.18 mark else it
could test its support level of 1.15 and then to 1.13---1.12 again.
Further panic seen only close below 1.12 mark for the
downside target of 1.09
Now upper side seems limited in EUR but trade with levels
only as it almost complete 38% retracement
For next few days we will expect dicey move in Dollar Index
and EUR. So traders can trade safely with levels only.
Hope you all enjoyed sell USDINR and buy EURINR strategy too... Book full profit.
