Daily Forex Report by www.epicresearch.co 7th March 2013

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indore, India (prHWY.com) March 7, 2013 - HEADLINE
Rupee off highs as oil firms step in to buy
Rupee off the day's high of 54.6150 and currently trading at 54.78/79 versus its previous close of 54.92/93 as oil firms step in to buy dollars. The pair dropped sharply earlier in the session on the back of gains in regional risk assets. Some traders say buying was also seen ahead of RBI's reference rate fixing, though gains are unlikely to sustain for too long. All Asian currencies trading stronger compared to the dollar.
TRADING TIPS:
SELL EUR/INR
* BELOW 71.65
* FOR TGT
* 71.50/71.35
* SL 72.85
PAST PERFORMANCE
SELL EUR/INR
* BELOW 71.85
* FOR TGT
* 71.70/71.55
* SL 72.05
* TARGET ACHIEVED
ANALYSIS
DAILY USD/INR
OPEN: 55.0000
HIGH: 55.1550
LOW: 54.9025
CLOSE: 55.0000
* USD/INR LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE

DAILY EUR/INR
OPEN: 71.8500
LOW: 71.9450
HIGH: 71.5400
CLOSE: 71.6700
* EUR/INR LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE
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