Daily Forex Report by www.epicresearch.co 14th February 2013

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indore, India (prHWY.com) February 13, 2013 - HEADLINE
Rupee trims gains after better than expected trade data
The rupee trimmed gains to trade marginally weaker on he day at 53.83/84 versus Tuesday's close of 53.85/86 Following better-than-expected trade data for January. Trade deficit for January rose to $20 billion, below market expectations of a number closer to $25 billion, data showed. The government is hopeful that exports in January will help close the trade gap, Commerce Minister Anand Sharma said. The rupee may weaken further in the near term with the stock market regulator scheduled to auction unused and increased limits in government and corporate debt totaling over $11 billion on February 20.
TRADING TIPS:
* BUY USD/INR
* ABOVE 53.95
* FOR TGT
* 54.10/54.25
* SL 53.75
PAST PERFORMANCE
BUY EUR/INR
ABOVE 72.68
FOR TGT
72.83/72.98
SL 72.48 UNEXECUTED
ANALYSIS
DAILY USD/INR
* OPEN: 53.9225
* HIGH: 54.0350
* LOW: 53.8825
* CLOSE: 53.9325
* USD/INR LOOKS UPWARDS
* TREND: BULLISH
* STRATEGY: BUY ON DIPS

DAILY EUR/INR
* OPEN: 72.4700
* HIGH: 72.7400
* LOW: 72.4325
* CLOSE: 72.6675
* EUR/INR LOOKS UPWARDS
* TREND: BULLISH
* STRATEGY: BUY ON DIPS

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