Daily Forex Report by www.epicresearch.co 27th February 2013

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indore, India (prHWY.com) February 27, 2013 - HEADLINE
Rupee continues to decline against dollar in late morning
The Indian rupee continued to fall against the American currency in the late morning trade by slipping 16 paise to Rs 54.02 per dollar on month-end dollar demand from importers amid firm dollar overseas. The rupee resumed lower at Rs 54.03 per dollar against the last closing level of Rs 53.86 per dollar at the Interbank Foreign Exchange (Forex) Market and moved in a range of Rs 54 per dollar and Rs 54.09 per dollar before quoting at Rs 54.02 per dollar at 1040hrs. Month-end dollar demand from importers mainly oil refiners mainly affected the rupee value against the dollar, a forex dealer said. In New York, the euro continued to suffer yesterday, with a selloff in the shared currency triggered after questions about Italy's austerity reforms emerged in the wake of the country's general election.
TRADING TIPS
BUY EUR/INR
* ABOVE 71.53
* FOR TGT
* 71.68/71.83
* SL 54.33
PAST PERFORMANCE
SELL USD/INR
* BELOW 54.28
* FOR TGT
* 54.13/54.98
* SL 54.48
* TARGET ACHIEVED
ANALYSIS
DAILY USD/INR CHART
OPEN: 54.3175
HIGH: 54.3175
LOW: 53.8675
CLOSE: 53.8925
* USD/INR LOOKS DOWNWARDRS
* TREND: BEARISH
* STRATEGY: SELL ON RISE

DAILY EUR/INR CHART
OPEN: 71.5375
HIGH: 71.6825
LOW: 71.5375
CLOSE: 71.5375
* EUR/INR LOOKS UPWARDS
* TREND: BULLISH
* STRATEGY: BUY ON DIPS

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