USD-INR JUNE 2011 MCX-SX FUTURE:-Yesterday it met our lowest resistance of 45.12 & slide down to 45.0125.This is the distinct bearish sign & expect it to open with the gap down. We see initially see support emerging around 44.90,corrective rally  in & around 45.02 to plunge finally below the morning low around 44.80-44.85.However avoid carrying overnight short position as this is the terminal wave.  Swing trader should go short around 45.00 or on breach of ATP with the stop of 45.06 for the target of 44.85. Remember traders discretion & judgment of price behavior during the entry of trade  is vital for profitable trade  & this can be done at that moment of time only.

EURO-USD:- Yesterday it made the high of 1.4514  & commenced declining. This price action is certainly indicative of the strong underlying bullish trend. However for the day we are looking for the corrective move towards the 1.4375-1.4325 range with much lower momentum. Swing trader should  go short around   1.4490 with the  stop of 1.4520 for the target of 1.4375 & lower.  Traders discretion & judgment of price rally top is vital for profitability of trade  & this can be done at that moment of time only.                                

EURO-INR JUNE 2011 MCX-SX FUTURE :-Yesterday  it opened   at  64.75 & made the low of 64.7025.It went up to mark the high of the day at 65.1875  &  closed  finally at 65.0900.For the day we are expecting  gap up opening in the 65.25 range, a small decline to 65.10-65.02 range & then surge above the morning high.  In our view aggressive  swing trader should  go long  around 65.10   with the stop of 65.00  for the target 65.40 & 65.80.  Once the trade runs in profit trail the stop suitably for exit so that profit is compounded & any higher target can also be taken advantage of it

USD-JPY:- Yesterday it broke down below 80.90 & made the low of 80.52 & hovering around 80.70 base level.This is distinctly bearish sign & we see the downside target of 80.25. In our view traders should short on the breach of 80.65 with the stop of 80.80 for the target of 80.25. Once the trade runs in profit trail the stop suitably for exit so that profit is compounded & any higher target can also be taken advantage of it

JPYINR JUNE 2011 MCX FUTURE :-Yesterday it has  crossed the upper band of trading range hence our bias is bullish.We see now major resistance at 56.00.  In our view aggressive  swing trader should go long at 55.70 with the stop of 55.60 for the target of 56.00.

   GBPINR MAY 2011 MCX FUTURE :- Yesterday it opened at 74.51 & went up to 73.92 to mark as the high of the day.It kept on declining to mark the low of the day at 73.51 & finally closed at 73.6250.We are looking for a resistance at 73.98-73.90 & support at 73.52-73.60.  In our view traders should go long at 73.55 with the stop of 73.40 for the target of 73.98