USD-INR:-

It is forming a flat correction with the 45.80 as support & 47.60 as resistance.It has completed the wave a & we thought last week that wave b is over.However thr progress of wave b is continuing & it should retest the 45.80 in coming week.

EURO-USD:- Last week it made the low of 1.4218 against our expectation of 1.42-1.40.On the expected line it bounced from there & made the high of 1.4437.We are of the view that it will bounce further to 1.455 to 1.465 before resuming the original downtrend.

 

GBP-USD:- Last week's price action shows weakness & it may test the 1.56-1.57 zone without giving any kind of bounce back.

 
 

  USD-JPY:- As expected it bounced & made the high of the 91.87.It has still some force in balance to bounce to 92.30-93 range & then commence further decline.