EURO-INR:- EUROINR has fallen sharply as expected & made the low of 59.4626 whereas we were expecting 60.00.This stamps the view that a flat correction which began from 55.1595 has terminated at 61.5123.For the coming week we expect the recent decline to be corrected & consolidated till the level of 60.20-60.30 & then commence the journey towards the 58.30.

GBP-INR:- It has neither fallen sharply nor breached the immediate support of 72.00.However it has breached the rising channel & displayed the weakness. We expect it to correct to the level of 71.35 levels in coming week.

JPY-INR:-  It has made the high of the 55.245 against our expectation of the 56.00 & in all probabilities has completed the upside pattern & we see it heading for the 53.00 levels in coming week.

EURO-USD:- Last week it fell sharply as expected & made the low of 1.2746 against our expectation of the 1.3000.This clearly establishes that the corrective pattern which began from 1.1877 has terminated at 1.3334 & a new down impulse has commenced. However for the coming week we are expecting it to correct & consolidate the decline in the 1.2890-1.2960 & then unfold the fresh new down move.

GBP-USD:- Last week it fell sharply as expected & made the low of 1.5562 against our expectation of the 1.5600.For the coming week we are expecting it to correct the decline to the 1.5720-1.5780 levels & then commences the fresh decline towards the 1.5200 levels.

USD-JPY:- USDJPY made the low of 84.72 against our expectation of the 84.00 & bounced off. This is very significant from two points. First it has made a very large degree wave termination at 84.72 & for long time we may not see this rate. Second it has formed the MORNING STAR pattern which is very reliable reversal Japanese pattern. We are looking for the bounce to 88.00 level in coming week.

DOLLAR-INDEX:- It is about to terminate a zigzag correction on upside & at max it may go to 83.70 & then start descending downside.