Daily Forex Report By www.epicresearch.co - 31 August 2012

HEADLINES: * Rupee in a tight range of 55.6325-55.75 ;stocks fall ahead of expiry The rupee is trading in a tight range on Thursday at 55.6575/6650 versus a previous close of 55.6250/6350

INDORE, India (prHWY.com) August 31, 2012 - Daily Forex Report by www.epicresearch.co - 31 August 2012

HEADLINES:
* Rupee in a tight range of 55.6325-55.75 ;stocks
fall ahead of expiry
The rupee is trading in a tight range on Thursday at
55.6575/6650 versus a previous close of 55.6250/6350.
The pair has traded in the 55.6325-55.75 band ahead of
GDP data and the speech from Fed's Bernanke on
Friday.

* Euro edges higher before Jackson Hole
meeting
The euro edged higher against the dollar on Thursday
as investors waited to see whether U.S. Federal Reserve
Chairman Ben Bernanke delivers firmer hints on more
monetary easing at a meeting of central bankers this
Week.
TRADING TIPS
* Buy USD/INR above
* 55.98 for targets of
* 56.10/56.25
* Stop loss 55.79
PAST PERFORMANCE
* Buy EUR/INR above
* 69.98 for targets of
* 70.10/70.25
* Stop loss 69.86
* Target achieved
DAILY USD/INR ANALYSIS:
* OPEN: 55.9000
* HIGH: 55.9775
* LOW: 55.8175
* CLOSE: 55.8725
* USD/INR LOOKS UPWARDS
* TREND: BULLISH
* STRATEGY: BUY ON DIPS
DAILY EUR/INR ANALYSIS:
* OPEN: 70.1375
* HIGH: 70.1500
* LOW: 69.9500
* CLOSE: 70.0050
* EUR/INR LOOKS UPWARDS
* TREND: BULLISH
* STRATEGY: BUY ON DIPS
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