Forex Market News


Euro is trading at 1.1077 , opening gap down in the Asian session as US positive news faded the demand for Euro . It is likely that such knee jerk reaction could continue into the European session and we can expect a test of 1.10 going into the US elections . A win for Hillary Clinton would take the pair towards 1.0850 by the end of this week.
EURINR Nov futures opened flat and prices consolidated for the whole session in the range of 74.20 Prices have taken resistance around its previous bottom and 61.8% Fibonacci retracement level placed at 74. 40 level. Prices are expected to fall from this level towards next strong supports placed at 73.70 and 73.40 levels if successfully break below 74.15 level.
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