FOREX TIPS ~ Currency Weekly Trend USD/INR

USD- INR WEEKLY VIEW>>TREND (11 To 15 June)

USD-INR is in bullish phase, last week USD-INR was sustaining at lower levels but during the last trading session it witnessed a strong pullback. For this week, 56.2000 will act as major resistance and 55.1700 will act as major support. 

STRATEGY :- For thIS week, USD-INR is expected to trade in the range 55 and 56.25. Traders should go for buy on lower levels strategy, If USD-INR sustains above 55.50 then above 55.89 it can test levels of 56.10. If USD-INR sustains below 55.30 it can test levels of 55.10/54.86. Trade by keeping the strict stop losses.

Major supports for this week in USD-INR: 55.1700 and 54.6200

Major Resistances for this week in USD-INR: 56.1725 and 56.6250

EUR-INR TECHNICAL LEVELS

Major supports for this week in EUR-INR: 68.7950 and 68.2450

Major Resistances for this week in EUR-INR: 69.8400 and 70.3350

GBP-INR TREND>>LEVELS 

Major supports for this week in GBP-INR: 85.2350 and 84.5725

Major Resistances for this week in GBP-INR: 86.4300 and 86.9625

JPY-INR SUPPORT AND RESISTANCE LEVELS

Major supports for this week in JPY-INR: 69.0800 and 67.9350

Major Resistance for this week in JPY-INR: 71.6000 and 72.9750

FOREX CURRENCY TIPS

GBP/USD Buy above 1.5376    TARGET-1 1.5384  TARGET-2 1.5390

TARGET-3 1.54  STOPLOSS 1.5349

GBP/USD SELL below 1.5349   TARGET-1 1.5341 TARGET-2 1.5335

TARGET-3 1.53  STOPLOSS 1.5376

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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

Forex Tips: Currency Market Weekly Report

¤ The dollar index holds 82 as Greece exit awaited.
¤ Euro wallows at 2-year lows as EU jitters rattle markets.
¤ Sterling soft near 2-month lows against dollar; UK GDP contracts.
¤ Japanese Yen weakens against dollar as Fitch downgrades economy.
¤ Indian rupee plunges; global risk sentiment weak



USD-INR is in bullish phase, last week USD-INR May futures hit the targets 54.96/55.20/56.20 on the upside. USD-INR had completed its 261.8% retracement (56.2300). For the coming week, 56.7475 will act as major resistance and 54.5475 will act as major support.


For the upcoming week, USD-INR is expected to trade range bound between 55.30 and 56.50. Traders
should go for buy on lower levels strategy, If USD-INR sustains above 56 then it can test 56.20, any
breakout above 56.75, price will rally to 58.65 (423.6% retracement level). If USD-INR sustains below
55.30 then it can correct to levels of 55.15. If USD-INR breaks 54.50 on the downside it will negate bullish view. Trade by keeping the strict stop losses. Major supports for the coming week in USD-INR: 54.5475 and 53.5050 Major Resistances for the coming week in USD-INR: 56.7475 and 57.7850

Currency Options Tips

The total traded volume in USD/INR option contract was USD 449 Mio. The total market open interest is USD 1.47 Bio. 9% of the
volume was seen in 51 call and put strike. 4% of the volume has been seen in 51.25 call and put strike. 30% of the volume was seen in
51.50 call and put strike. 51% of the volume was seen in 49.25 to 50.75 & 51.75 to 52.75 call and put strike.                                                                                                                                                                                                                      
Volatility on call option has been in the range of 10.13 to 10.56% & for put option the volatility has been in the range of 10.07 to
10.52%.The volatility on call option has increased by 0.70 to 0.90%.The volatility on put option has also increased by 0.46 to 0.66%.
Put/Call Ratio of 51.50 is 0.78 which has decreased from the previous level of 0.82 which indicates that market is expecting rupee to  depreciate in the near term.

Trading Strategy:
Sell Dec USD 52.50 Call @ 25 paise with a stop of 30 paise for a target of 15 paise.

FOREX Currency Trading Tips for Today 22 Nov. 2011

The Dollar is Strongly strengthening against Indian Rupee .Currently Dollar is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend .. The USDINR is now trading in oversold level. The USDINR is now trading in oversold level. The oscillator is showing BUY signal For short term The current position is BUY

FOREX Currency Trading Tips for Today ...

The Dollar is strengthening against Indian Rupee in long- medium- short-medium- short- term .Currently Dollar is in strong downtrend and the trend is supported with good volume The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. The USDINR is now trading in oversold level. The USDINR is now trading in oversold level.