Daily Forex Report by www.epicresearch.co 16 August 2012
HEADLINES:
Rupee rises on lower current account deficit
forecast:
The Indian rupee rose marginally on Friday, helped by
the euro's gains and after a government panel forecast a
lower current account deficit, but still posted a fall for
the week as high global crude prices sparked demand
for dollars. The partially convertible rupee closed at
55.73/74 per dollar as per the SBI closing rate versus its
previous close of 55.75/76.
Euro rises to 6-week high versus struggling
yen:
The euro rose 0.3 per cent to 98.40 yen on the EBS
trading platform, its strongest since early July,
extending gains after it broke above its 55-day moving
average of 97.997.
TRADING TIPS
Buy USD/INR above
55.85 for targets of
55.97/ 56.10
Stop loss 55.70
PAST PERFORMANCE
Sell EUR/INR below
68.59 for targets of
68.47/ 68.35
Stop loss 68.79
Not executed
DAILY USD/INR ANALYSIS:
OPEN: 55.7600
HIGH: 55.8500
LOW: 55.7000
CLOSE: 55.8000
USD/INR LOOKS BULLISH
TREND: UPWARDS
STRATEGY: BUY ON DIPS
DAILY EUR/INR ANALYSIS:
OPEN: 68.7500
HIGH: 69.0100
LOW: 68.7500
CLOSE: 68.9150
EUR/INR LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPSEpic
Research is a leading financial services provider with presence in Indian and other global c0apital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, Stock Futures Tips, NSE Tips, BSE Tips, COMEX Tips, NCDEX Tips. Share Tips We provide services in equity, commodity and Forex market.
Our research is based around these services:
Stock Tips
Share Tips
Forex Tips
Commodity Tips
Stock Futures Tips
NCDEX Tips
MCX Tips
GET FREE TRIAL +91 731 664 2333
Or mail us here: info@epicresearch.co Or visit our site that is http://www.epicresearch.co/
http://epicresearch.co/images/past_performance/DAILY-FOREX-REPORT.pdf
###
