Daily Forex Report by www.epicresearch.co 22th January 2013

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indore, India (prHWY.com) January 22, 2013 - HEADLINE
Rupee rises for 3rd session; fund flow related selling
The rupee today rose by six paise to 53.65 against the dollar in early trade at the Interbank Foreign Exchange market on continued selling of the US currency by exporters and banks. Forex dealers said a higher opening in the domestic equity market and strengthening of euro against the dollar overseas, also supported the rupee. The rupee had gained a whopping 68 paise to close at a two-and-half-month high of 53.71 against the dollar on Friday on sustained selling of the American currency by exporters after partial deregulation of diesel prices.

TRADING TIPS:
* SELL USD/INR
* BELOW 53.87
* FOR TGT
* 53.77/53.67
* SL 54.07
PAST PERFORMANCE
* SELL USD/INR
* BELOW 53.85
* FOR TGT
* 53.71/53.55
* SL 54.05
* TARGET ACHIEVED
ANALYSIS
DAILY USD/INR
* OPEN: 53.8475
* HIGH: 54.0175
* LOW: 53.7125
* CLOSE: 53.9225
* USD/INR LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE
DAILY EUR/INR
* OPEN: 71.8000
* HIGH: 71.9700
* LOW: 71.5325
* CLOSE: 71.7550
* EUR/INR LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE

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