EURO-INR:-During the initial part of the coming week we are expecting the bounce towards 61.70 & would not be able cross marginally. We expect from there to unveil the down  wave  & this may find initially support near the 59.35 for next week. We recommend selling short the EURINR OCT MCXSX FUT at 61.85 with the stop of 62.00 for the target of 59.50 or lower.

GBP-INR:-   Last week it made the low of 70.68 against our estimated target of 70.20.Ideally it has strong support at 70.20 & it has shown reluctance to test that level .However a small decline below 70.68 cannot be ruled out though  not necessarily it will come. The larger term trend is to head for the 76.30 level. We recommend going long the GBPINR OCT FUT MCXSX at 71.50 with the stop of 70.50 for the target of 76.00.

JPY-INR:-  It has good support at 53.00 & strong resistance at 54.85.For the coming week we see it oscillating within this range of 53.00 & 54.85 & then later it may take trended move in the next week. In light of the above set up we would like to avoid giving any call.

EURO-USD:- Last week EURO made the high of 1.3495 & surprised everyone. For the coming week we see it to test the level of 1.3575-1.3600 & the commence the decline. This decline should continue ideally till the 1.3110 with the intermittent stop at the 1.3340 & 1.3220.However we will caution against any rigid view as it has shown the strong trended move last week. We recommend selling short in & around 1.3575 with the stop of 1.3610 for the target of 1.3340,1.3220 & 1.3110

GBP-USD:- GBP has shown the accelerating momentum in the last week & particularly on the last day of week it has given the break out. We see it heading for the 163.05 with the current momentum sooner than later. We recommend a buy at current market price of 1.5821 with the stop of 1.5725 for the target of 163.00.

USD-JPY:- The vicious decline route it followed has taken everyone by surprise. This also indicates the larger trend is ferociously down. We envisage the first support at 82.90 & then at 81.10.We recommend selling short on any bounce to 84.40  level with the stop of 84.80 for the target of 82.90  & then 81.10 or lower.

DOLLAR-INDEX:- It is now under severe declining trend. For the initial period of the coming week it will bounce to 80.35-80.50 range & then start declining towards the 78.00 level.