Greece drubs Euro to further slumps, IMF to rescue

• Greece is nearing cash for reforms deal with its euro zone partners.
  
  
• IMF recourse debt repayments: This option from IMF would lend a hand for Greece to meet its debt liabilities but worries continue over a possible bankruptcy.

We don't think EURINR is likely to trade on the positive note on the back of Greece's efforts to avoid default. Instead, we look ahead for better ups for shorting opportunities.

On daily charting pattern it is still signaling downtrend is intact as RSI (14) evidences a downward convergence with price line and stochastic in addition continues to follow the downswing after %K line crossover above 80s. Seeking better entry points for shorting on this pair fetches a handsome return.