Daily Forex Report by www.epicresearch.co 18th March 2013

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Indore, India (prHWY.com) March 18, 2013 - HEADLINE
Dollar takes a breather, yen steady after BOJ chief approved
The dollar took a break from its recent sprint on Friday as sterling enjoyed a short squeeze and the yen was propped up by profit-taking in the US currency after Japan's parliament approved new leadership at the Bank of Japan, as expected. The dollar index pulled back slightly to 82.501, further retreating from a seven-month peak of 83.166 hit the previous day, though it is up 4 per cent from its February 1 trough of 78.918. Japan's parliament approved Prime Minister Shinzo Abe's nominee for central bank governor, Haruhiko Kuroda, and nominees for the two deputy governor posts, clearing the way for the radical monetary easing Abe has long pressed for.
TRADING TIPS:
SELL USD/INR
* BELOW 54.19
* FOR TGT 54.04/53.89
* SL 54.39
PAST PERFORMANCE
SELL EUR/INR
* BELOW 70.87
* FOR TGT 70.72/70.57
* SL 71.07
* UNEXECUTED
ANALYSIS
DAILY USD/INR

OPEN: 54.3450
HIGH: 54.3450
LOW: 54.1200
CLOSE: 54.1975
* USD/INR LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE

DAILY EUR/INR
OPEN: 70.5600
LOW: 70.8975
HIGH: 70.5500
CLOSE: 70.8075
* EUR/INR LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE



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