USD-INR MAY 2011 MCX-SX FUTURE :-Last week it  opened at 44.4750 & this itself was the low of the week. It then keep moving till the 45.09 to mark the high of the week & finally closed at 44.94. For the coming week we see resistance zone at 45.17-45.19 & support zones at 44.55-44.53 & then at 44.04-44.00.In short we are expecting the large corrective pattern which commenced from 44.39(8th April,2011) will get terminated with the few ticks above 45.09 & will commence the downward move initially to 44.53-44.55 & then to 44.00-44.02.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 any rally above 45.09  with the stop  45.25  for the target of 44.53-44.55 & lower to 44.00-44.02. 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 profitability of trade  & 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 1.48040,went up to mark the high of 1.4940  & then declined to register the low of 1.43123  to finally close at 1.4321. It has  come within  our estimated target of 1.4910-1.4950 & declined sharply on expected line to 1.43123.Though we are expecting a bounce from 1.4200,we would not be surprised if it pierces through for lower target due to high momentum.  Swing trader should hold their  short position  entered around 1.49100  with the stop of 1.4460   for the  target of 1.4230-1.4200 & lower.

EURO-INR MAY 2011 MCX-SX FUTURE :-Last week it  opened  at 65.88, made high of 66.7075 & low of 65.1975 to close finally at 65.2825.In our view it should open with the gap down & may find support at 63.85-64.10 & then move up. In our view aggressive  swing trader should  cover short around 64.00.If this support helf for 2 hours then go long with the stop of 63.60  for the target of 65.59-65.45.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's price action has confirmed the top of 1.6746 & in the major pattern commencing from 1.5345.We are expecting this to be corrected till the targets of 1.6230-1.6280 & 1.6005-1.6050.For the coming week  it may initially find support at 1.6230-1.6280 & then bounce to 1.6450-1.6490. to eventually decline to 1.6050-1.6005. In our view aggressive  swing trader should go short  around 1.6450 with the stop of 1.6500  for the target of 1.6050-1.6005 & lower.

GBP-INR MAY 2011 MCX-SX FUTURE :-Last week it opened at 73.96, made the high of 74.50 & closed the week at 73.7375. For the coming week we see a small tick around 74.00 & then decline to 73.00 & 72.20.    In our view aggressive  swing trader should go short around.74.00  with the stop placed at 74.50  for the target of 73.00 & lower.                                                              

USD-JPY:- Last week it made the low of 79.54 & closed the week at 80.62.In the process it has formed the reliable reversal pattern namely INVERTED HEAD & SHOULDER. For the coming week  we are expecting it to bounce to 82.80-83.00 & then may go to 84.15-84.35.On the downside we see strong support at 80.00-80.20.  In our view aggressive  swing trader should go long  around 80.30 with the tight stop of 80.05 for the target of 82.80-83.00 & higher.                                             

JPY-INR MAY 2011 MCX-SX FUTURE :-Last week it made the high of 56.4375 & closed at 55.95. We now  see  it  having resistance at 56.45-56.25 & downside it has support at 55.00-55.20 & then at 53.90-54.10. In our view aggressive  swing trader should go short on any rally  with the stops of 56.40 for the target of 55.00 & 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.

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