USD/INR Spot:
Rupee got supoorted well at 50.50 for reversal into 50.84 to trigger sale of 3M dollar at 52.00. The reversal from 50.84 had momentum to take out support at 50.50 and has hit 50.08 this morning, thus triggering our purchaes of Jan 2012 dollars at 50.65-50.50. Now, rupee should get into consolidation mode at 49.85-50.50. Trade recommendation is to buy Jan 2012 dollars at 50.00-49.85 and to sell April 2012 dollars at 51.60-51.75.
EUR/USD:
As expected, we saw a rally into 1.2875-1.2950 (revised sell window) and high so far is 1.2878. Strategy to stay short at this window with s/l 1.2975 is good.
Views of other asset classes remain unchanged.
Have a good day...............Moses Harding
Rupee got supoorted well at 50.50 for reversal into 50.84 to trigger sale of 3M dollar at 52.00. The reversal from 50.84 had momentum to take out support at 50.50 and has hit 50.08 this morning, thus triggering our purchaes of Jan 2012 dollars at 50.65-50.50. Now, rupee should get into consolidation mode at 49.85-50.50. Trade recommendation is to buy Jan 2012 dollars at 50.00-49.85 and to sell April 2012 dollars at 51.60-51.75.
EUR/USD:
As expected, we saw a rally into 1.2875-1.2950 (revised sell window) and high so far is 1.2878. Strategy to stay short at this window with s/l 1.2975 is good.
Views of other asset classes remain unchanged.
Have a good day...............Moses Harding
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