USD-INR JULY 2011 MCX-SX FUTURE:- Yesterday on expected bearish undertone it made the low of 44.4575 but bounced off swiftly. This swift bounce suggests the termination of the downtrend whereas yesterday night events further weakening of the dollar. In our view it may make a new bottom as a knee jerk reaction in the morning below 44.43 & then moved up. Alternatively it may straight move up & crossing of 44.5675 will close the room for a new low below 44.4575. For the day barring unforeseen developments  we see 44.40-44.65 as the trading range.  Swing trader should go long below 44.45 or on cross above of 44.5675   with the appropriate stop for the target of 44.65-44.68.Remember traders discretion & judgment of price behavior during the entry of trade  is vital for profitability of trade  & this can be done at that moment of time only.

EURO-USD:- Yesterday it  made the high of 1.4438 on the news of GREECE.For the large part of the day we see it consolidating & correcting the rise  1.4137-1.4438 within the 1.4440-1.4325 range. On completion of this correction it is likely to surge upside facing the resistances at 1.4600 & 1.4750.  Swing trader should  go long around 1.4350   with  the stop of 1.4275  for the target of 1.4600 & 1.4750 in next 2-5 days..  Traders discretion & judgment of price rally top/price decline bottom while entering trade,  is vital for profitability of trade  & this can be done at that moment of time only. 

EURO-INR JULY 2011 MCX-SX FUTURE :- Yesterday it opened at 63.3475 & made the high of 63.5450. It then moved down to 63.005 to mark the low of the day  & closed at 63.14.Today morning opened at 63.635 & made the high of 63.90.For the first half of  day we expect it to consolidate within 63.70-63.90 range & then head for the 64.10. In our view aggressive  swing trader should go long on any down move towards the 63.70   with the stop of 63.65 for the target of 64.10 & higher. 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.

GBPINR JULY 2011 MCX FUTURE :-  Today we saw it gap up opening at 72.0625 & then made the high of 72.4450.For the first part of the day we see it correcting to the level of 72.30-72.20 & then head for the 73.00.   In our view traders should go long on any decline toward  72.30 with the stop of 72.20 for the target of 73.00.

USD-JPY:- Yesterday it made the low of 78.22 & bounced off.We still look for a notch low below 78.22 near to 77.85 & then a sharp & swift rally.  In our view traders should  go long near 78.00 with the stop of 77.75 for the target of 79.25. 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 JULY 2011 MCX FUTURE :-Yesterday it  moved in the range 56.54-56.25. For the day it has opened gap up as if stamping our view to head for the  57.00-57.10. In our view aggressive  swing trader should go long  on any  decline  towards  56.40 with the stop of 56.10 for the target of 57.00 & higher.

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