USD-INR MAY 2011 MCX-SX FUTURE :-Last week it  opened at 44.72,made the low of 44.55 &  m high of 45.05 to close at 44.6625. For the coming week we see resistance zones at 44.74-44.745.028 & 44.98-& support zone at 44.00-44.04.In our view depending on the magnitude of momentum it will test  resistance zone of 44.74-44.78 or 44.98-45.02.We see high probability of 65% from 44.74-44.78 & only as an extreme case it will test  the 44.98-45.02 having only 35% probability. In either case we expect a downward journey to 44.00-44.04 & as an extended case it may stretch to 43.44-43.48.However in the such global turmoil with volatile & dynamic environment, it will be prudent to take this as rough skeleton & we will refine as well as retuned final target with the additional data on daily basis. Swing trader should short on confirmation of top formed (breach of ATP by price on downside)  around 44.74-44.78 or 44.98-45.02 with the stop  of high made on that day  for the target of 44.00-44.04 & lower. Once the trade runs in profit please trail the stop to lock in the profit. . Remember traders discretion & judgment of price top formation while entering the trade  is vital for right direction  & this can be done at that moment of time only.

SPECIAL NOTE:- We would earnestly request the readers to read carefully the qualifying conditions for the call to be activated. Without meeting the qualifier conditions call do not get activated & simply cursory look at chart & arrow may lead to erroneous call activation & financial losses.

EURO-USD:-Last week it opened at 1.4431,went down to mark the low of 1.4157  & then surged to register the high of 1.4650  to finally close at 1.4559. In our view it n is forming a pennant pattern & set the targets at 1.4735-1.4765 & 1.4910-1.4950.Underlying strong momentum favors the higher targets but we will recalculate it in the daily report. There is strong support at 1.4460-1.4500.  Swing trader should   go long  around 1.4540  with the stop of 1.4460  for the initial target of 1.4735-1.4765,1.4910-1.4950  & higher.

 EURO-INR APRIL 2011 MCX-SX FUTURE :-Last week it  opened  at 64.2875, made low of 63.7425 & high of 65.22 to close finally at 65.1125.In our view  for the coming week we see 64.80-64.90 as good support & resistances at 65.75-65.85 & then at 66.35-66.45. In our view aggressive  swing trader should go long on any decline to 65.00 with the stop of 64.80 for the target of 65.75-65.85 & higher.Once the trade runs in profit trail the stop suitably for exit so that profit is compounded & any lower target can also be taken advantage of it. Remember traders discretion & judgment of price behavior while entering the trade  is vital for right direction  & this can be done at that moment of time only.

GBP:-  Last week it made the high of 1.6599 & closed the week at 1.6501. For the coming week we see good support at 1.6400-1.6420 & resistance at 1.6750-1.6770.As an extreme case if 11.6750-1.6770 is crossed then next resistance is at 1.6900-1.6920. In our view aggressive  swing trader should go long aroud 1.6430 with the stop of 1.6375 for the target of 1.6750 & higher.

GBP-INR APRIL 2011 MCX-SX FUTURE :-Last week it opened at 73.01 & made the high of 73.86 & closed the week at 73.83. For the coming week we see  73.30-73.40 as good support & 74.50-74.60 as immediate resistance & then at 75.30-75.40.  In our view aggressive  swing trader should go long around.73.30  with the stop placed at 73.10 for the target of 74.50 & then 75.30.                                                              

USD-JPY:- Last week it made the low of 81.62 & closed the week at 81.83.For the coming week  we are expecting it to bounce to 82.80-83.00 & as an extreme case may go to 84.15-84.35.On the downside we see strong support at 81.00-81.20.  In our view aggressive  swing trader should go long  around 81.90 with the tight stop of 81.25 for the target of 82.80-83.00 & higher.                                             

JPY-INR MARCH 2011 MCX-SX FUTURE :-Last week it made the high of 54.68 & closed at 54.3975. We now  see  it  having resistance at 54.95-55 7 downside it has support at 53.15-53.35 & then at 52.10-52.30. In our view aggressive  swing trader should go short on any rally  with the stops of 54.90 for the target of 53.15 & lower.                                                      

IN OUR VIEW THERE WILL BE LOT OF VOLATILITY IN JPYINR & ALONGWITH THERE WILL BE MASSIVE INCREASE IN VOLUME.THIS WILL OFFER IMMENCE OPPORTUNITIES FOR THE TRADERS & ARBITRAGERS.EARLY BIRDS PAYING ATTENTION ON THESE CONTRACTS WOULD FIND LIFETIME OPPORTUNITY & EDGE OVER THE OTHERS.NOTE THAT USDJPY HAS REVERSED AFTER BREACHING THE 15 YEAR LOW & WILL BE FOLLOWED BY MULTIMONTH & MULTIFOLD RISE ACCOMPANYING THIS RALLY.

 THIS IS THE PORTRAY OF GENERAL BROADER MARKET VIEW WITHOUT ANY SPECIFIC STRATEGY & SHOULD NOT BE CONSTRUIED AS SPECIFIC CALLS.FOR THE MORE POIGNANT VIEW ON MARKET,WINNING STRATEGY & PIN POINT TIMELY PRICE LEVEL CALLS, CONTACT US  TO SUBSCRIBE FOR OUR PREMIUM SERVICES.           

      WRITER WELCOMES ANY SUGGESTIONS,FEEDBACK OR QUERY AT INFO@JKDVIEWPOINT.COM.