WEEKLY CURRENCY OUTOOK (29/03/2010)
USD-INR:- For the coming week we see it declining during the initial part of the week to 44.70-44.80 range (45.00-45.10 MCX APR FUT).Then during the later part it is likely to bounce sharply towards the 45.50-45.60 range (45.80-45.90 MCX APRIL FUT).
EURO-INR:- In our opinion it has either completed a major downward pattern or in its terminal stages .We do not see it breaching 60.00 under any circumstances & it should vehemently commence rising towards the 62.40 levels.
GBP-INR:- In our view it has completed the downside & in worst case scenario one more new low below 66.89 which may not go below 66.80 (67.45 MCX APR FUT). We are looking for the sharp bounce to 68.60 (69.25 MXC APR FUT).
JPY-INR:- We do not see it breaching 48.50 on downside & looking for the immediate & vehement bounce to 50.40 in coming 2-3 weeks.
EURO-USD:- For the coming week we see it declining during the initial part of the week to 1.3250-1.3200 range in the slow decaying fashion without any momentum. After hitting the target it is expected to bounce back sharply with good momentum & volume towards the 1.3550 levels.
GBP-USD:- It is in the terminal stage of the major declining pattern. We see a nominal decline below the 1.4777 & not below 1.4725 in any case to complete the pattern. We are envisaging thereafter sharp bounce towards the 1.5300.
USD-JPY:- We are expecting it to face major resistance at 93.80 & do not expect to cross easily & thereafter we expect the downward corrective & consolidating phase which will not breach 91.75.
DOLLAR-INDEX:- It is likely to react to 81.60 during initial part of the week. Later it is expected to head for the 83.20.
EURO-INR:- In our opinion it has either completed a major downward pattern or in its terminal stages .We do not see it breaching 60.00 under any circumstances & it should vehemently commence rising towards the 62.40 levels.
GBP-INR:- In our view it has completed the downside & in worst case scenario one more new low below 66.89 which may not go below 66.80 (67.45 MCX APR FUT). We are looking for the sharp bounce to 68.60 (69.25 MXC APR FUT).
JPY-INR:- We do not see it breaching 48.50 on downside & looking for the immediate & vehement bounce to 50.40 in coming 2-3 weeks.
EURO-USD:- For the coming week we see it declining during the initial part of the week to 1.3250-1.3200 range in the slow decaying fashion without any momentum. After hitting the target it is expected to bounce back sharply with good momentum & volume towards the 1.3550 levels.
GBP-USD:- It is in the terminal stage of the major declining pattern. We see a nominal decline below the 1.4777 & not below 1.4725 in any case to complete the pattern. We are envisaging thereafter sharp bounce towards the 1.5300.
USD-JPY:- We are expecting it to face major resistance at 93.80 & do not expect to cross easily & thereafter we expect the downward corrective & consolidating phase which will not breach 91.75.
DOLLAR-INDEX:- It is likely to react to 81.60 during initial part of the week. Later it is expected to head for the 83.20.
Posted by JKD VIEWPOINT at 3/29/2010 
Categories: WEEKLY MCX-SX CURRENCY REPORTS
Tags: WEEKLY CURRENCY REPORTS
Categories: WEEKLY MCX-SX CURRENCY REPORTS
Tags: WEEKLY CURRENCY REPORTS
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