Daily Forex Report by www.epicresearch.co 31 August 2012
HEADLINES:
Rupee in a tight range of 55.6325-55.75 ;stocks
fall ahead of expiry
The rupee is trading in a tight range on Thursday at
55.6575/6650 versus a previous close of 55.6250/6350.
The pair has traded in the 55.6325-55.75 band ahead of
GDP data and the speech from Fed's Bernanke on
Friday.
Euro edges higher before Jackson Hole
meeting
The euro edged higher against the dollar on Thursday
as investors waited to see whether U.S. Federal Reserve
Chairman Ben Bernanke delivers firmer hints on more
monetary easing at a meeting of central bankers this
Week.
TRADING TIPS
Buy USD/INR above
55.98 for targets of
56.10/56.25
Stop loss 55.79
PAST PERFORMANCE
Buy EUR/INR above
69.98 for targets of
70.10/70.25
Stop loss 69.86
Target achieved
DAILY USD/INR ANALYSIS:
OPEN: 55.9000
HIGH: 55.9775
LOW: 55.8175
CLOSE: 55.8725
USD/INR LOOKS UPWARDS
TREND: BULLISH
STRATEGY: BUY ON DIPS
DAILY EUR/INR ANALYSIS:
OPEN: 70.1375
HIGH: 70.1500
LOW: 69.9500
CLOSE: 70.0050
EUR/INR LOOKS UPWARDS
TREND: BULLISH
STRATEGY: BUY ON DIPS
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