Daily Forex Report By www.epicresearch.co - 18 August 2012

HEADLINES: * Rupee rises on lower current account deficit forecast: The Indian rupee rose marginally on Friday, helped by the euro's gains and after a government panel forecast a lower

INDORE, India (prHWY.com) August 18, 2012 - Daily Forex Report by www.epicresearch.co - 16 August 2012

HEADLINES:
* Rupee rises on lower current account deficit
forecast:

The Indian rupee rose marginally on Friday, helped by
the euro's gains and after a government panel forecast a
lower current account deficit, but still posted a fall for
the week as high global crude prices sparked demand
for dollars. The partially convertible rupee closed at
55.73/74 per dollar as per the SBI closing rate versus its
previous close of 55.75/76.

* Euro rises to 6-week high versus struggling
yen:

The euro rose 0.3 per cent to 98.40 yen on the EBS
trading platform, its strongest since early July,
extending gains after it broke above its 55-day moving
average of 97.997.
TRADING TIPS
Buy USD/INR above
55.85 for targets of
55.97/ 56.10
Stop loss 55.70

* PAST PERFORMANCE
Sell EUR/INR below
68.59 for targets of
68.47/ 68.35
Stop loss 68.79
Not executed

DAILY USD/INR ANALYSIS:
OPEN: 55.7600
HIGH: 55.8500
LOW: 55.7000
CLOSE: 55.8000
USD/INR LOOKS BULLISH
TREND: UPWARDS
STRATEGY: BUY ON DIPS
DAILY EUR/INR ANALYSIS:
OPEN: 68.7500
HIGH: 69.0100
LOW: 68.7500
CLOSE: 68.9150
EUR/INR LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPSEpic

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