EURO-INR MAY 2011 MCX-SX FUTURE :-Last week it  opened  at 64.8975 & this itself was the high of the week. It then went down & made the low of 63.7000 to close finally at 64.2050.In our view it should open with the gap down & may find support at 62.65-62.45 & then move up.Only as an extreme case it may move down to 61.55-61.40. In our view aggressive  swing trader should  go short on breach of ATR with the stop of the high for the target of 62.65-62.45.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 low of 1.6147 has surpassed the first target & confirmed our estimation of downtrend.For the coming week we see resistance at 1.6250-1.6300 but with our negative bias we see downside targets at 1.5975-1.6025 & then at 1.5750-1.5800. In our view aggressive  swing trader should go short  above 1.6200 with the stop of 1.6300  for the target of 1.6050-1.6005 & lower.

GBP-INR MAY 2011 MCX-SX FUTURE :-Last week it opened at 73.85, made the high of 73.9450 & closed the week at 73.1750. For the coming week we see it hitting downside the target of 72.40-72.00 & then 71.85-71.70.  In our view aggressive  swing trader should go short around.73.20  with the stop placed at 73.50  for the target of 72.40 & lower.                                                              

USD-JPY:- Last week it made the low of 79.56 & closed the week at 80.796.In the process it has completed the pull back process after breaking out from  the  INVERTED HEAD & SHOULDER pattern. 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 80.40-80.20.  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 55.9775 & closed at 55.695. We now  see  it  having resistance at 56.00-56.25 & 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.   

DOLLAR INDEX :- Last week it made high of 76.14 with the weekly white candle confirming the reversal of trend denoted by the bullish ENGULFING PATTERN. For the coming week we see good support at 75.20-75.40 & resistances  at 76.80-77.00 & 78.20-78.40.