USD-INR:-

Last week USD-INR opened at 47.93 & went up to register the high at 48.25.It then continuously decline to mark the low of week at 47.60 & finally closed the week at 47.62.Thus INR becomes stronger by 0.31 compared to previous week’s closing & gained 0.65%.For the current week in our view on rise it will face strong resistance at 48.35 & downside it has good support at 47.15-47.30.However the violation of 47.15 may lead to 46.60-46.80 range.Our bias for the week is sideways to negative.

EURO-USD:-Last week we it opened at 1.4688 & went up to 1.4720 to register the high of week.It then continued to decline till 1.4481 to mark the low of the week & finally closed at 1.4575.However after the current decline it should make one more nominal high above 1.4844 to terminate the larger degree pattern. Since we are on the verge of major pattern completion tight stop is mandatory.

GBP-USD:-

Last week it made the low of 1.5770 on first day of the week against our expectation of 1.5750.For the coming week we are expecting a bounce back max to 1.6160 & then proceed towards the head & shoulder target of 1.525-1.5350.

 

USD-JPY:- It is about to complete the major pattern on downside with the fresh nominal new low below 88.25.However we expect it to initially bounce to 90.50-90.75 & decline below 88.25 to terminate the pattern.We expect bounce from this fresh low to 92-93.