Monday, August 27, 2012

FOREX TRADING TIPS - WEEKLY OUTLOOK 27 to 31 Aug

USD-INR Weekly Recommendations :- 

USD-INR is in consolidation phase, last week USD-INR did our target 55.40/55.15 on the downside. For the coming week, 56 will act as major resistance and 55.20 will act as major support.

STRATEGY :- 

For this week, USD-INR is expected to trade range bound between 55.30 and 55.75. One should go for buy on lower level strategy, if USD-INR sustains above 55.60 it can test levels of 55.90. If USD-INR futures sustains below 55.30 then it can test the level of 55.15. Trade by keeping the strict stop losses.

Major supports for this week in USD-INR: 55.3550 and 54.9075
Major Resistances for this week in USD-INR: 55.7350 and 55.9900

EUR-INR View :-

EUR-INR is in consolidation phase. Last week EUR-INR did our target of 69.47 and closed near week’s high. For this week, 69.7875 will be the major resistance and 68.8125 will be the major support.

TRADING STRATEGY :-

For this week, EUR-INR is expected to trade range bound between 69.70 and 69. One should go for buy on lower level strategy, if EUR-INR sustains above 69.20 then above 69.5000 it can test levels of 69.7500. If EUR-INR sustains below 69.15 then it will come to levels of 68.95. Trade by keeping the strict stop losses.

Major supports for the coming week in EUR-INR: 68.8125 and 68.2300
Major Resistances for the coming week in EUR-INR: 69.7875 and 70.1800

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