Daily Forex Report By Epicresearch 5th October 2012

Epic Research is a leading financial services provider with presence in Indian and other global c0apital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips.

Print this Press Release Send to friendPosted: Oct 5th, 2012 | Rating: 0/5 | Comments: 0 | Views: 223 | 2,230
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HEADLINE

Rupee seen breaching 50/dollar in 3-4 months :

The Indian rupee continued to extend its winning streak and hit fresh 5-1/2 month high today by breaking below 52 to a dollar. The rupee gained in the past one month on the back of government reforms and also due to improvement in the current account deficit, which has narrowed down from record highs.

Sterling at two-week low versus euro before rate decisions :

Sterling fell to its lowest in two weeks against the euro on Thursday, as soft UK data kept alive the prospects of more monetary stimulus in the coming months. The Bank of England is expected to keep interest rates on hold and its quantitative easing programme unchanged at the end of its two day meeting on Thursday,.

TRADING TIPS:

Sell USD/INR below 51.90 for targets of 51.75/51.60 Stop loss 52.10

PAST PERFORMANCE

· Sell USD/INR below 52.44 for targets of 52.29/52.14 Stop loss 52.60

· Target Acheived

ANALYSIS

DAILY USD/INR

OPEN: 52.2225

HIGH: 52.2825

LOW: 51.8775

CLOSE: 51.9825

· USD/INR LOOKS DOWNWARDS

· TREND: BEARISH

· STRATEGY: SELL ON RISE

DAILY EUR/INR

OPEN: 67.4675

HIGH: 67.5725

LOW: 67.1600

CLOSE: 67.2525

· EUR/INR LOOKS DOWNWARDS

· TREND: BEARISH

· STRATEGY: SELL ON RISE

Epic Research is a leading financial services provider with presence in Indian and other global c0apital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, Stock Futures Tips, NSE Tips, BSE Tips, COMEX Tips, NCDEX Tips. Share Tips We provide services in equity, commodity and Forex market.

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http://www.epicresearch.co/images/past_performance/DAILY-FOREX-REPORT.pdf
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