Daily Forex Report By www.epicresearch.co - 19 December 2012

HEADLINES: Rupee trims initial gains vs dollar, still up by 9 paise The rupee trimmed its initial gains against the American currency but was still quoted up by 9 paise to

Indore, India (prHWY.com) December 19, 2012 - Daily Forex Report by www.epicresearch.co - 19 December 2012

HEADLINES:
Rupee trims initial gains vs dollar, still up by 9
paise
The rupee trimmed its initial gains against the
American currency but was still quoted up by 9 paise to
54.76 per dollar in the late morning trade on mild
selling of dollars by banks and exporters ahead of the
Reserve Bank's mid-quarter monetary policy review
meeting. The rupee resumed higher at 54.70 per dollar
as against the last closing level of 54.85 per dollar at the
Interbank Foreign Exchange ( Forex) Market on selling
of dollars by banks in view of persistent foreign capital
inflows into equity market. However, it trimmed its
initial gains and was quoted at 54.76 per dollar at 1040
hrs on renewed dollar demand from banks on the back
of higher dollar in overseas market. It moved in a range
of 54.70 per dollar and 54.81 per dollar during the
morning trade

TRADING TIPS
ï‚· BUY USD/INR
ABOVE 54.05
FOR TGT
54.20/54.35
SL 53.90
PAST PERFORMANCE
ï‚· BUY USD/INR
ABOVE 54.95
FOR TGT 55.10
SL 54.80
TARGET ACHIEVED
DAILY USD/INR ANALYSIS:
OPEN: 54.8125
HIGH: 55.1375
LOW: 54.8000
CLOSE: 55.0100
ï‚· USD/INR LOOKS SIDEWAYS
ï‚· TREND: CONSOLIDATED
ï‚· STRATEGY: BUY ON DIPS
DAILY EUR/INR ANALYSIS:
OPEN: 72.2575
HIGH: 72.5850
LOW: 71.1500
CLOSE: 72.4525
ï‚· EUR/INR LOOKS UPWARDS
ï‚· TREND: BULLISH
ï‚· STRATEGY: BUY ON DIPS

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