Currency Futures Technical Report

This report has been deactivated

Trading Strategy

For the very large traders and high risk traders

USD/INR AUGUST: Sell only if it trades below 54.14 for 53.70
EURO/INR AUGUST: Sell only if it trades below 68.5300
GBP/INR AUGUST: Buy only if trades over 86.57 for 86.80
JPY/INR AUGUST: Sell on rise with a stop loss over 70.7300

Technical View

US-DOLLAR – INDIAN RUPEE (USD/INR) AUGUST – 55.2750

Bullish over 55.5100 with 55.6400-55.9100 as price target
Bearish below 55.2200 with 54.9800-54.6800 as price target
Neutral Zone: 55.2200-55.5100

BREAK POINT: - 55.2200
It needs to break 55.5275 else it will fall to 54.5275
There will be sellers only below 55.1400

EURO-INDIA RUPEE (EUR/INR) AUGUST – 68.6850

Bullish over 68.5300 with 68.9500-70.5500 as price target
Bearish below 68.1200 with 67.8800-67.5675 as price target
Neutral Zone: 68.1200-68.5300

BREAK POINT: 68.1200-68.5300
68.1200 is the key support and euro can rise to 69.07-69.4700 as long as it trades over 68.1200
There will be sellers only below 68.1200

UK POUND -INDIA RUPEE (GBP/INR) AUGUST – 86.4900

Bullish over 86.5700 with 87.1900 and 87.3600 as price target
Bearish below 86.40 with 86.1800-85.8325 as price target
Neutral Zone: 86.4000-86.5700

BREAK POINT: 86.5775
86.5775 is the key resistance and pound needs to trade over 86.5775 to target 87.1925.
There will be sellers as long as pound trades below 86.5775

JAPANESE YEEN -INDIA RUPEE (JPY/INR) AUGUST – 70.4725

Bullish over 70.7200 with 71.0900 and 71.4425 as price target
Bearish below 70.3100 with 70.0100 and 69.6400 as price target
Neutral Zone: 70.3100-70.7200

BREAK POINT: - 70.5400
Yen needs to trade over 70.72 today else it will fall to 70.0100 and 69.6400
There will be sellers only below 70.7200

Happy profitable trading & Trade without emotions

Disclosure: The directors have short positions in usd/inr and jpy/inr

Notes to the above report please note: Holds means holds on daily closing basis. Please use appropiate stop losses on intraday trades to limit losses. All prices are in indian rupee unless otherwise specified the time given in the report is the time of completion of report.

Published On Wed, Aug 8 2012, 15:12 GMT Previous entries

Manan Somani

Follow Follow my activity on FXstreet.com Insignia Consultants website

A Bullion dealer, traders in equity markets, commodity markets and currency markets for the past seventeen years. He has been looking after sales and marketing since inception.

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Chintan Karnani

Follow Follow my activity on FXstreet.com Insignia Consultants website

A leading commodity analyst and foreign exchange analyst. His view on bullion markets can be read in www.marketwatch.com and dowjones newswires. He is also a guest columnist in the magazine "Art of jewellery".

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