WEEKLY CURRENCY OUTLOOK (28/06/2010)
USD-INR:- At 45.50 it has completed a downward pattern & just unfolded the wave on upside .For the coming week we do not see it breaching the 45.80 support level & on upside it will hit the target range of 47.45-47.75.
GBP-INR:- It is headed for north towards the 72.00-73.00 zone & we do not see it breaching 68.80 on downside.
EURO-INR:- We are of the view that it is headed for 59.00+ area & downside it is not likely to breach the 56.50.
GBP-INR:- It is headed for north towards the 72.00-73.00 zone & we do not see it breaching 68.80 on downside.
JPY-INR:- It is headed for a new high above the 53.33 & may reverse then from the 54.00-54.50 range.
EURO-USD:- At 1.2489 it has completed the first leg of upward correction. The second leg of correction is either completed at 1.2207 & third leg may straight go to 1.27.This is shown in red colour on chart. Alternatively it may oscillate in 1.2489-1.2207 range & then head for 1.27 as shown by blue colour in chart.
GBP-USD:- For the week we see a strong support at 1.4900 & do not see it breaching. We are of the opinion that it will head for the 1.5300.
USD-JPY:- During the initial part of the week we see it correcting the decline of 91.40-89.10 in the range of 89.10-90.00.Later it will head for 88.50.Our bias is negative.
DOLLAR-INDEX:- During the initial part of the week it is expected to bounce to 86.75.However from there we expect a sharp fall towards 84.00 or lower. We keep our bias negative for this.
Posted by JKD VIEWPOINT at 6/28/2010 
Categories: WEEKLY MCX-SX CURRENCY REPORTS
Tags: WEEKLY CURRENCY REPORTS
Categories: WEEKLY MCX-SX CURRENCY REPORTS
Tags: WEEKLY CURRENCY REPORTS
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