Daily Forex Report By www.epicresearch.co -23 AUGUST 2012

HEADLINE * Rupee trims initial gains vs dollar, up 9 paise In restricted trading in view of bank strike, the rupee trimmed its early gains today but is being quoted higher by nine paise to

indore, India (prHWY.com) August 23, 2012 - Daily Forex Report by www.epicresearch.co - 22 August 2012
HEADLINE
* Rupee trims initial gains vs dollar, up 9 paise
In restricted trading in view of bank strike, the rupee trimmed its early gains today but is being quoted higher by nine paise to 55.48 against the US currency in the late morning trade on selling of dollars from banks on the back of lower dollar in overseas market.
* Euro dips but ECB optimism keeps it near 7-week high
The euro dipped against the dollar on Wednesday as
investors took profit on Tuesday's gains but
expectations euro zone policymakers are readying action to stem the debt crisis kept it close to a sevenweek high.
ANALYSIS
DAILY USD/INR
* OPEN: 55.4775
* HIGH: 55.6000
* LOW: 55.3700
* CLOSE: 55.5250
* USD/INR LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE
DAILY EUR/INR
* OPEN: 69.1500
* HIGH: 69.2525
* LOW: 69.0375
* CLOSE: 69.0675
* EUR/INR LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE
TRADING TIPS
* Sell USD/INR below
* 55.34 for targets of
* 55.20/55.05
* Stop loss 55.55
PAST PERFORMANCE
* Buy EUR/INR above
* 68.98 for targets of
* 69.10/ 69.25
* Stop loss 68.78

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