Daily Forex Report by www.epicresearch.co 1st March 2013

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indore, India (prHWY.com) March 1, 2013 - HEADLINE
Rupee trims initial gains vs dollar, still up by 15 paise
Moving in line with equity market, the Indian rupee trimmed its initial gains but was still quoted up by 15 paise to 53.71 against the American currency in the late morning trade due to selling of dollars by banks and exporters amidst sustained foreign capital inflows. Weakness of dollar in the overseas market and persistent foreign capital inflows mainly boosted the rupee value, a forex dealer said. The rupee resumed higher at Rs 53.64 per dollar against the last closing level of Rs 53.86 per dollar at the Interbank Foreign Exchange (Forex) Market and moved up further to Rs 53.60 per dollar.
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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