EURINR Intraday Outlook : 12.4.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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EURO is trading at 1.0599, reversing from the highs of 1.0631 in yesterday’s session. German ZEW Economic Sentiment which was reported yesterday was reported at 19.5 against an expectation of 14.0, this better than expected numbers have given EURO a boost and has taken EUR/USD pair to the higher levels of 1.0631. Key move for this move was investors concerns about French elections has weighed the euro, as the possibility of a face-off between far-right candidate Marine Le Pen and hard-left candidate Jean-Luc Melenchon, who has surged in polls recently. By Le Pen and Melenchon to hold referendums on France's membership in the European Union have sparked fears among investors of the potential for a wider breakup of the euro zone. Looking ahead with geopolitical tension across the global and French election coming closer, expect EUR/USD pair to trade sideways and expect the pair to trade in the range of 1.0640-1.0580 levels in the near term.