EUR/INR

Hi Sri, EUR/INR 72.95 and 72.52 vs 71.66 and 70.63. What decides higher is EUR/USD 1.0877. See how it sits at this price. Its only 3 days since the Draghi cut / stimulus, usually takes almost 5 days for prices to normalize. 1.0877 is important because its also a range break point as well as 1.0824 below. EUR/USD could fly either way. What I see is the overall trend is strongly down. On a 3 month forward line, I have 1.0922 and its slowly trending lower since the cut from 1.0977. If 1.0877 breaks and sustains then a larger range is found at 1.0877 – 1.1073. What I see is EUR/USD has miles to travel lower since the cuts are not even close to be reflected in the market. The market is still trading on the old rates so sell any rallies. I will keep you informed.

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