Wednesday, May 30, 2012

FREE FOREX TRADING TIPS

FOREX NEWS AND UPDATES
1. Euro Slides Toward 2-Year Low Amid Spain Bank Concerns.
2. GBPUSD: Trading the U.K. Mortgage Approvals Report
3. Indian FX/debt factors to watch 

USD/INR OUTLOOK 
USD/INR could gain towards 56 as risk assets fall from favour because of fears about Spain's banking woes. The pair last closed at 55.67/68 per dollar. Traders will watch for any possible central bank intervention around 56 levels. In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 56.01. The USD/INR June open interest was up by 30.9% from the previous day.

USD/INR TRADING TIPS
US dollar is expected to attract some buying support on declines against the INR.Utilise the lows in the USD/INR June contract to buy above 55.89 with 56.08/56.16 and a stop loss of 55.81

3 comments:

V. K. Sinha said...

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Fatema Khatun said...

The currency pairs are expressed with a base currency as the first part of the pair, followed by the quote currency. (For example, USD/JPY would be the US dollar as the base against the Japanese Yen as the quote.)
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