Daily Forex Report by www.epicresearch.co 21st February 2013

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indore, India (prHWY.com) February 20, 2013 - HEADLINE
Rupee up 8 paise Vs dollar in early trade
The rupee today appreciated by eight paise to 54.10 against the US dollar on the Interbank Foreign Exchange (Forex) market in early trade on increased foreign fund flows amid firm local equities. Forex dealers said euro's gains against the American currency in the overseas market also supported the rupee. The local unit had closed higher at 54.18 against the dollar on Monday. Forex market was closed yesterday for 'Shivaji Jayanti'. Meanwhile, the 30-share BSE Sensex rose by 106.70 points, or 0.54 per cent, to 19,742.42 in early trade today. 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.
TRADING TIPS:
* SELL EUR/INR
BELOW 72.50
FOR TGT 72.35/72.20
SL 72.50
PAST PERFORMANCE
* BUY USD/INR
ABOVE 54.34
FOR TGT 54.49/54.64
SL 54.19
UNEXECUTED
ANALYSIS
DAILY USD/INR CHART
OPEN: 54.2275
HIGH: 54.2600
LOW: 54.1075
CLOSE: 54.1725

* USD/INR LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE

DAILY EUR/INR CHART
OPEN: 72.6200
HIGH: 72.7500
LOW: 72.4950
CLOSE: 72.5250

* EUR/INR LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE

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