Daily Forex Report by www.epicresearch.co 25th February 2013

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indore, India (prHWY.com) February 25, 2013 - HEADLINE
Rupee recovers initial losses vs dollar, up 5 paise
The rupee recovered from initial losses and was being quoted higher by five paise at 54.42 against the US dollar in late morning trade today. The rupee's gain was boosted by fresh selling of dollars by banks and exporters in view of persistent capital inflows from foreign funds into equity market. The rupee resumed lower at 54.52 as against the last closing level of 54.47 per dollar at the Interbank Foreign Exchange (Forex) market and dropped further to 54.54 on initial dollar demand from banks in view of firm its firm value overseas. However, it recovered from initial losses and was quoted higher at 54.42 per dollar at 1050 hours. It hovered in a range of 54.37 and 54.54 per dollar during the morning deals.
TRADING TIPS
SELL USD/INR
* BELOW 54.28
* FOR TGT 54.43/54.88
* SL 54.48
PAST PERFORMANCE
SELL EUR/INR
* BELOW 71.90
* FOR TGT 71.75/71.60
* SL 72.10
* TARGET ACHIEVED


ANALYSIS
DAILY USD/INR CHART

OPEN: 54.6250
HIGH: 54.6250
LOW: 54.2550
CLOSE: 54.2875
* USD/INR LOOKS DOWNWARDRS
* TREND: BEARISH
* STRATEGY: SELL ON RISE

DAILY EUR/INR CHART
OPEN: 72.0300
HIGH: 72.0925
LOW: 71.5075
CLOSE: 71.5750
* EUR/INR LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE

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