Daily Forex Report by www.epicresearch.co 27 August 2012
HEADLINES:
Rupee trims initial gains vs dollar, up 9 paise
In In restricted trading in view of bank strike, the rupee
trimmed its early gains today but is being quoted
higher by nine paise to 55.48 against the US currency in
the late morning trade on selling of dollars from banks
on the back of lower dollar in overseas market.
Euro dips but ECB optimism keeps it near 7-
week high
The euro dipped against the dollar on Wednesday as
investors took profit on Tuesday's gains but
expectations euro zone policymakers are readying
action to stem the debt crisis kept it close to a sevenweek high.
TRADING TIPS
Sell EUR/INR below
69.32 for targets of
69.20/69.05
Stop loss 69.50
PAST PERFORMANCE
Buy USD/INR above
55.35 for targets of
55.50/55.65
Stop loss 55.15
Target achieved
DAILY USD/INR ANALYSIS:
OPEN: 55.4200
HIGH: 55.4200
LOW: 55.1100
CLOSE: 55.2550
USD/INR LOOKS UPWARDS
TREND: BULLISH
STRATEGY: BUY ON DIPS
DAILY EUR/INR ANALYSIS:
OPEN: 69.2000
HIGH: 69.3500
LOW: 69.0800
CLOSE: 69.2875
EUR/INR LOOKS DOWNWARDS
TREND: BEARISH
STRATEGY: SELL ON RISE
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