Daily Forex Report By www.epicresearch.co - 21 December 2012

HEADLINES: Rupee extends losses on oil demand; weak shares The rupee extended losses to 54.84/85 versus its previous close of 54.55/56 on the back of dollar demand from oil

Indore, India (prHWY.com) December 21, 2012 - Daily Forex Report by www.epicresearch.co - 21 December 2012

HEADLINES:
Rupee extends losses on oil demand; weak shares
The rupee extended losses to 54.84/85 versus its previous
close of 54.55/56 on the back of dollar demand from oil
firms and also helped by weak domestic shares. A broad
risk-off mood globally also aided the dollar, traders said.
Asian shares retreated from near 17-month highs and
commodities fall as negotiations to avert a US fiscal
crunch turns to personal taunts, putting at risk a timely
solution as well as the health of the world's largest
economy.
Rupee down 12 paise against dollar in early
trade.
The rupee today fell by 12 paise to trade at 54.67 against
the dollar in early trade at the Interbank Foreign
Exchange, due to increased demand for the American
currency from oil importers. Besides, euro and yen
weakness against the dollar overseas and a lower opening
in the equity market also put pressure on the local unit,
forex dealers said. The rupee had gained 30 paise
yesterday to close at 54.55 against the dollar on fresh
selling of the American currency by banks.

TRADING TIPS
SELL USD/INR
BELOW 54.90
FOR TGT
54.75/54.60
SL 55.05
PAST PERFORMANCE
SELL USD/INR
BELOW 54.70
FOR TGT
54.55/54.40
SL 54.85
UNEXECUTED
DAILY USD/INR ANALYSIS:
OPEN: 54.8900
HIGH: 55.0175
LOW: 54.7550
CLOSE: 54.9125
ï‚· USD/INR LOOKS SIDEWAYS
ï‚· TREND: CONSOLIDATED
ï‚· STRATEGY: BUY ON DIPS
DAILY EUR/INR ANALYSIS:
OPEN: 72.5500
HIGH: 72.8150
LOW: 72.3650
CLOSE: 72.7725
ï‚· EUR/INR LOOKS UPWARDS
ï‚· TREND: BULLISH
ï‚· STRATEGY: BUY ON DIPS
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