WEEKLY CURRENCY OUTOOK (10/05/2010)
USD-INR:- Last week's rise has indicated that a major downward pattern is over & INR has turned for upside. For the coming week it should ideally consolidate the rise within the 45.80-44.85 range before leaping further.
EURO-INR:- In our opinion it should bounce to 59.25 levels & then start descending to 57.00 levels.
GBP-INR:- It is in the strong bottoming out process & awaiting external environment to support it's rise. We see a bounce to 68.55-68.85 range & if crossed then it may attempt the 69.70.
JPY-INR:- Initially we see it consolidating the last week's rise in the band of 48.50-50.90 & thereafter we see it attempting to target for the 52.30.
EURO-USD:- Euro has unveiled the extension on the downside & likely to scratch many more bottom. For the coming week we see corrective bounce emerging in it to the 1.2950 to 1.3040 level & again to resume downward journey below 1.2520.
GBP-USD:- In our view it should bounce back to 150.10 -151.00 level in coming week .This rise will decide the further course of action.
USD-JPY:- We are looking for the laboured rise to 93.70-94.00 & then declining for the further low.
DOLLAR-INDEX:- Contrary to our expectation it has unfolded an extension in the 5th wave & hit the high of 85.46 mainly on the slide of EURO. Though there are some signs of this extension termination are visible in chart, further unfolding of the data are required to evaluate the situation.
EURO-INR:- In our opinion it should bounce to 59.25 levels & then start descending to 57.00 levels.
GBP-INR:- It is in the strong bottoming out process & awaiting external environment to support it's rise. We see a bounce to 68.55-68.85 range & if crossed then it may attempt the 69.70.
JPY-INR:- Initially we see it consolidating the last week's rise in the band of 48.50-50.90 & thereafter we see it attempting to target for the 52.30.
EURO-USD:- Euro has unveiled the extension on the downside & likely to scratch many more bottom. For the coming week we see corrective bounce emerging in it to the 1.2950 to 1.3040 level & again to resume downward journey below 1.2520.
GBP-USD:- In our view it should bounce back to 150.10 -151.00 level in coming week .This rise will decide the further course of action.
USD-JPY:- We are looking for the laboured rise to 93.70-94.00 & then declining for the further low.
DOLLAR-INDEX:- Contrary to our expectation it has unfolded an extension in the 5th wave & hit the high of 85.46 mainly on the slide of EURO. Though there are some signs of this extension termination are visible in chart, further unfolding of the data are required to evaluate the situation.
Posted by JKD VIEWPOINT at 5/10/2010 
Categories: WEEKLY MCX-SX CURRENCY REPORTS
Tags: WEEKLY CURRENCY REPORTS
Categories: WEEKLY MCX-SX CURRENCY REPORTS
Tags: WEEKLY CURRENCY REPORTS
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