WEEKLY CURRENCY OUTLOOK (31/05/2010)
USD-INR:- The decline from 47.77 to 46.03 largely completes the correction of the stupendous rise from 44.40 to 47.77.Also there is good support at 45.50.We largely see crawling movements towards the 47.00 levels in coming week.
EURO-INR:- It is in the terminal stage of its decline & lost its major portion of the downside momentum. However our bias is still sideways to negative & we expect it to retest the bottom of 55.17 & may touch 54.50 support level.
GBP-INR:- Our bias is negative for the week & we see it retesting the low of 54.50 again.
JPY-INR:- Our bias is positive & we see it heading towards the 53.50.
EURO-USD:- Euro is gradually loosing the downside momentum but it is not completely vanished. We expect it to scratch the bottoms nominally twice or thrice & then turn the momentum on upside. However we do not see it declining below 119 in this week.
GBP-USD:- It has almost finished its downside at 1.4227.However we do not rule out the retest of the same. Our bias is just neutral or plain sideways.
USD-JPY:- We do not see it rising above 91.75 & downside there are good chances that it will retest the 88.50.
DOLLAR-INDEX:- We see it heading for the 87.76 & nominally higher.
Posted by JKD VIEWPOINT at 5/31/2010 
Categories: WEEKLY MCX-SX CURRENCY REPORTS
Tags: WEEKLY CURRENCY REPORTS
Categories: WEEKLY MCX-SX CURRENCY REPORTS
Tags: WEEKLY CURRENCY REPORTS
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