USD-INR:-

Last week USD-INR opened at 48.39 & went up to register the high at 48.81.It then continuously decline to mark the low of week at 47.89 & finally closed the week at 48.02.Thus INR becomes stronger by 0.37 compared to previous week’s closing & gained 0.75%.For the current week in our view on rise it will face strong resistance at 48.85-49.00 range & downside it has good support at 47.80.However the violation of 47.80 may lead to 47.40-47.20 range.Our bias for the weak is sideways.

EURO-USD:-Last week we it opened at 1.4579 & went down to 1.4515 to register the low of week.It then continued to rise till 1.4767 to mark the high of the week & finally closed at 1.4711.It had shown a good momentum upside & we are expecting one more new high above 1.4767 which may go to 1.4830-1.4850 range.However on decline it may come down to 1.4520 & then march for new high.Since we are on the verge of major pattern completion tight stop is mandatory.

GBP-USD:-

We are looking for major consolidation within 1.61 to 1.675 range .Since last week it touched the low of 1.6135 we expect it to rebound towards the 1.675 in coming week.

 

  USD-JPY:- Last week we expected that it will not breach 93 on upside & on the downside it will find good support in 89-90 range.Actually it moved in the narrow band of 90.10-91.65.For the coming week we are looking for  a bounce towards the 93.0 -93.5 & then unfold the down move towards the 89.00.