Daily Forex Report by www.epicresearch.co 20th February 2013

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indore, India (prHWY.com) February 20, 2013 - HEADLINE
Indian rupee forward premiums rise; money market tight
Rupee forward premiums continue to trade near 14-year lows hit last week; 1-year at 358 points versus 355.25 points Friday close as per Thomson Reuters data.Dealers say the paying interest in market is broadly to continue till the second half of March as the local money market is still tight with plenty of dollar supply in global market. Another private bank dealer says buy on dips before the federal budget. Spot Indian Rupee trading marginally higher, at 54.27/28 versus 54.22/23 last close.
TRADING TIPS:
* BUY USD/INR
ABOVE 54.34
FOR TGT 54.49/54.64
SL 54.19
PAST PERFORMANCE
* SELL USD/INR
ABOVE 54.35
FOR TGT 54.50/54.65
SL 54.20

ANALYSIS
DAILY USD/INR CHART
OPEN: 54.4400
HIGH: 54.4875
LOW: 54.3025
CLOSE: 54.3375

* USD/INR LOOKS UPWARDS
* TREND: BULLISH
* STRATEGY: BUY ON DIPS

DAILY EUR/INR CHART
OPEN: 72.6500
HIGH: 72.6850
LOW: 72.3900
CLOSE: 72.4875

* EUR/INR LOOKS UPWARDS
* TREND: CONSOLIDATED
* STRATEGY: BUY ON DIPS
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