Hi Vidhyadhar:
A range forward is a sinthetic financial instrument composed by two options. In your example, it is composed by:
a) Buying a Put Option at EUR 1,27
b) Selling a Call Option at EUR 1,33
The special characteristics of this Range Forward instrument is that both options, has normally the same premium, so at the begging of the trade not payment is done(Premium to be paid=premium to be collected.)
To map this instrument in SAP TRM, you could use the standard product type 76A OTC Currency Option, for both sides of the contract( the long position and the short position).
Regards
Ignacio