ICICI Direct, The Euro appreciated by 0.11% yesterday amid a rise in risk appetite in the global markets.
December 28, 2021 / 09:35 AM IST
ICICI Direct’s currency report on EURINR
The Euro appreciated by 0.11% yesterday amid a rise in risk appetite in the global markets. However, sharp upside was capped on worries that resurgence of Covid19 cases in Europe will have a negative impact on economic recovery as it pushed some countries in Europe to implement restrictions to curb the spread • The Euro is expected to trade with a negative bias amid divergence in monetary policy and on fears that tightening of rules to try to curb the spread of Coronavirus will have a negative impact on an already fragile economy. France announced tighter restrictions amid concerns over new variant. However, sharp downside may be cushioned on soft dollar and optimistic global market sentiments.
Intra-day strategy
| EURINR December futures contract (NSE) | |
| Sell EURINR in the range of 84.93-84.95 | |
| Target: 84.65 | Stop Loss: 85.10 |
| Support: 84.75/84.65 | Resistance: 85.10/85.20 |
Disclaimer:
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