USD/INR
Last week USD INR June series opened at 47.40 & went down till 47.35 to mark as low of the week. It then continued to rise till 48.3425 to mark the high of the week & finally closed the week at 48.1125. In terms of ELLIOT WAVE THEORY it is correcting in the form of a zigzag. Within this zigzag it has completed the wave {A}&{B}.Within wave {C}it has completed wave (3) & wave (4) is completed or just about to complete. We expect now the wave (5) to unveil & should go below 46.80.We would put the 48.40-48.50 range as major resistance & on downside 47.35 as support for the week but bias is negative implying stronger Rupee & weaker dollar.
 


EURO/USD
In the intermediate term it is heading for the 1.47-1.50 range. Last week we had stated that it will hold 1.3800 & attempt for 1.4333.It made the low of 1.3741 & started rising to make the high of 1.4012.For the coming week we expect that it will not breach 1.3871 & attempt to rise to 1.4171 & then to 1.4333.

  

GBP/USD
Last week we were of the view that  it may bounce to max 1.68 & commence the journey towards the 1.58.In fact it did not breach the low of 1.6188 & made the high of 1.6560.We expect for the coming week it will not breach 1.6331 & will attempt to cross the 1.662 & head for 1.6800.




USD/JPY
In the intermediate terms we are looking for 90.Last week we had expected; as it had been clinging on to the upper side it might make failure to surge pass the 99.47 & the decline towards the 95 range. It did not go above 98.58 & declined to make a low of 95.52.For the coming week we see major resistance at 97.40 & downside it will attempt to breach 94.45 & then 93.85.