Daily Forex Report by www.epicresearch.co 18th February 2013

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indore, India (prHWY.com) February 18, 2013 - HEADLINE
Rupee rules firm against dollar in late morning trade
The rupee continued to rule firm in late morning deals today by gaining 3 paise to 53.89 against the dollar on selling of the US currency from banks and exporters amid persistent capital inflows. Weak dollar in the overseas market also boosted the rupee value, a forex dealer said. The rupee today resumed marginally higher at 53.91 per dollar as against the last closing level of 53.92 at the Interbank Foreign Exchange (Forex) Market. It hovered in a range of 53.85 and 53.93 before quoting 53.89 per dollar at 1100 hrs.In Sydney, the dollar declined against the Japanese yen in Asia trading hours today, ahead of a meeting of the world's top finance ministers and central bankers later in the day.
TRADING TIPS:
* BUY USD/INR
* ABOVE 54.35
* FOR TGT
* 54.50/54.65
* SL 54.20
PAST PERFORMANCE
* SELL USD/INR
* BELOW 54.00
* FOR TGT
* 53.85/53.70
* SL 54.20
* UNEXECUTED
ANALYSIS
DAILY USD/INR
OPEN: 54.0050
HIGH: 54.3400
LOW: 53.9450
CLOSE: 54.3075
* USD/INR LOOKS UPWARDS
* TREND: BULLISH
* STRATEGY: BUY ON DIPS
DAILY EUR/INR
OPEN: 72.2500
HIGH: 72.4175
LOW: 72.0375
CLOSE: 72.3575
* EUR/INR LOOKS UPWARDS
* TREND: CONSOLIDATED
* STRATEGY: BUY ON DIPS

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