Euro vs Indian Rupee edges higher as technical signals point to intraday buying pressure amid bearish trend

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Euro vs rupee rises 0.49% today

Highlights

EUR/INR remains below all major moving averages, indicating downside pressure across short to long-term timeframes.
Momentum and trend indicators mostly suggest ongoing bearish conditions, although some intraday signals favor buyers and the pair rose 0.49% to ₹108.5765.
EUR/INR is expected to trade in a range of ₹107.6127 to ₹109.5403 over the next five days, with a 78% probability of a downward move.

Anton Kharitonov, expert at Traders Union, sees EUR/INR trading below key moving averages and technical levels, signaling firm bearish pressure. The analyst notes that strong oversold readings on multiple indicators do little to improve near-term outlook without fundamental news support. He remains critical of the recent intraday bounce, viewing it as a technical pause in a broader downtrend. Kharitonov highlights that failure to break above ₹108.7937 increases risk of further losses towards ₹107.6127. "I remain skeptical of any near-term recovery for EUR/INR, as persistent bearish momentum leaves little room for optimism," he says.

Viktoras Karapetjanc, expert at Traders Union, identifies the current setup as a technical consolidation phase with latent opportunity. He emphasizes that strong oversold signals and active intraday buying suggest a possible reversal if resistance at ₹108.7937 is cleared. Despite no major news, Karapetjanc expects market participants to seek value opportunities in this range. He points to the volatility band as an area offering short-term setups for proactive traders. "I see a constructive environment for tactical buyers — a break above resistance could unlock further gains for EUR/INR," he states.

Parshwa Turakhiya, analyst, focuses on the mixed signals driving EUR/INR this week. He spots intraday buying activity even as broader sentiment stays weak, reflecting a tug-of-war between bearish momentum and oversold technicals. Turakhiya cautions that traders should stay nimble, targeting short-term bounces or range boundaries. "I think moves above ₹108.7937 or below ₹107.8913 will offer quick tactical opportunities for active market participants," he says.

Bearish momentum persists as technical barriers and oversold signals intensify

EUR/INR remains below the 20-, 50-, and 200-day moving averages (MA-20: ₹109.3214, MA-50: ₹110.0976, MA-200: ₹109.4438), showing ongoing downside pressure in all timeframes. The Ichimoku Kijun at ₹109.188 serves as resistance, with the near-term ceiling at ₹108.7937 and the floor at ₹107.8913 containing price moves. Momentum indicators highlight continued bearish sentiment: the RSI is low at 31.7987 and signals oversold conditions, while MACD and ADX remain negative. The Commodity Channel Index and Bull/Bear Power both reflect oversold territory, although BBP above zero indicates some intraday buying activity. The Awesome Oscillator also confirms a selling environment, but Stochastic RSI and HMA are generating strong buy signals, reflecting mixed short-term cues. Volatility on the session reached 0.84%.

Earlier, analysts noted that Euro vs Indian Rupee was dominated by persistent bearish momentum, with technical signals indicating sustained downside risk. The current analysis reaffirms this bias in light of ongoing pressure below major moving averages and Ichimoku resistance, suggesting that a breakout above ₹108.7937 is required to alter the near-term outlook.

Source of Data: EUR Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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