WEEKLY CURRENCY OUTLOOK (19/04/2010)
USD-INR:- At 44.06 low on 15th April 2010,it has completed the a downward pattern & it is preparing itself for the corrective bounce of the same. In our view it will consolidate first for couple of days within 44.20-44.50 range &then bounce to our target range of 44.70-44.90.
EURO-INR:- In our opinion it is not likely to go below the 59.40 & on upside it will head for 61.20-61.30 range.
GBP-INR:- We see it heading for retest of 66.90 & we would not be surprised if it breaches it marginally.
JPY-INR:- We do not see it rising to 48.45 & on the downside it may head for the 46-45 levels in coming weeks.
EURO-USD:- In our view a major wave on downside has completed at 1.3451 from 1.3680.We are expecting a corrective bounce to 1.3560 level & start descending again.
GBP-USD:- From the 1.4800 to 1.5515 it has completed a five wave pattern on upside. We are expecting that it will consolidate these gains within 1.5515-1.5120 range in the coming weeks.
USD-JPY:- We are expecting that it will not breach the 91.60 on downside & it will head for the 95.00 or above.
DOLLAR-INDEX:- In our view it has topped out at 82.52 & commenced its downward correction. We see it consolidating in the 80.15-81.30 range in coming week.
EURO-INR:- In our opinion it is not likely to go below the 59.40 & on upside it will head for 61.20-61.30 range.
GBP-INR:- We see it heading for retest of 66.90 & we would not be surprised if it breaches it marginally.
JPY-INR:- We do not see it rising to 48.45 & on the downside it may head for the 46-45 levels in coming weeks.
EURO-USD:- In our view a major wave on downside has completed at 1.3451 from 1.3680.We are expecting a corrective bounce to 1.3560 level & start descending again.
GBP-USD:- From the 1.4800 to 1.5515 it has completed a five wave pattern on upside. We are expecting that it will consolidate these gains within 1.5515-1.5120 range in the coming weeks.
USD-JPY:- We are expecting that it will not breach the 91.60 on downside & it will head for the 95.00 or above.
DOLLAR-INDEX:- In our view it has topped out at 82.52 & commenced its downward correction. We see it consolidating in the 80.15-81.30 range in coming week.
Posted by JKD VIEWPOINT at 4/19/2010 
Categories: WEEKLY MCX-SX CURRENCY REPORTS
Tags: WEEKLY CURRENCY REPORTS
Categories: WEEKLY MCX-SX CURRENCY REPORTS
Tags: WEEKLY CURRENCY REPORTS
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