EURINR Nov futures opened strongly higher with gap after falling sharply in the previous session. Prices have remained highly volatile in the entire week and recovered in the last session till previous day’s high around 73.45 and closed at 73.34. Prices have turned bearish after falling from the medium term declining trend line in the previous sessions and are expected to fall further from these levels towards next strong support placed at 72.70
Euro is trading at 1.0750 , continuing with the decline that began after the US elections were declared .Uncertainty arising out of the Italian referendum due on the 4 th of December is also adding to the downward pressure . Important data is due to reported from Germany and the EU today and will add to the volatility.
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