Forex Currency Outlook and Tips for Today

Rally in USD/INR towards 53.42/43 is a good selling level with a stop of 53.60 for a target of 52.90.

Dip in EUR/USD towards 1.2911 is a good buying level with a stop of 1.2871 for a target of 1.2981.

Dip in GBP/USD towards 1.5428 is a good buying level with a stop of 1.5396 for a target of 1.5691.

Rally in USD/JPY towards 77.99/78.04 is a good selling level with a stop of 78.26 for a target of 77.55.

Currency Tips for Today

The Dollar has strongh strength against Indian Rupee. Dollar is currently moving in sideways. The USDINR is now trading in oversold level. The oscillators are showing sell signal for short term.

Support for USDINR is 52.45-51.14-50.19-48.94
Resistance for USDINR is 54

Traders are advised to buy only above 53.903 with a strict stop loss at 53.404 Below 53.404 go for sell with a stop loss at 53.808.

Currency Trend Updates

The US dollar is expected to attract some buying on declines against the INR. Utilize the lows in the USD/INR January contract to buy above 53.41 with target of 53.59/53.65 and a stop loss of 53.32.

Indian rupee is poised for a weak start mirroring weakness in Asian equities and its regional peers like Korean won (declined for the third day) and Singapore dollar and after US main average Index closed slightly lower yesterday.

Indian Currency Tips Updates

Indian rupee extended its weakness for the second consecutive day against the US dollar on Friday tracking weakness in domestic shares coupled with persistent dollar demand for defence related payment held.
Today, Indian rupee is expected to open moderately stronger against the US dollar vs 52.96/97, as due to an improved risk appetite and positive opening for Indian stocks. But gains in the INR is expected to be limited due to continuing uncertainties over the eurozone`s debt problems, especially after 10-year Italian bond yield once again topped above 7%.

Indian Corrency Tips

• Rupee extended gains in afternoon trade on Wednesday supported by dollars inflows and gains in the domestic equities on improved global risk appetite.

• The rupee slumped to a record low of 54.30 to the dollar last Thursday, down about a fifth from its year-high in July.

• The euro extended gains in Asian trade on Wednesday, on short-covering ahead of the European Central Bank`s first offer of three-year loans.

• Moody`s on Wednesday raised India`s local currency debt rating by one notch to Baa3, matching it with the country`s foreign currency bond grade.

Forex Tips: Currency Trend Outlook

• Euro fell to a 10-month low versus sterling as worries that a long-lasting solution to the euro zone`s debt crisis was out of reach.

• Rupee trading volumes are expected to drop by 25 to 30% after RBI reduced trading limits of banks and companies.

• The yuan fell slightly against the dollar in see-saw trade on Tuesday after the People`s Bank of China set a weaker mid-point.

• In the currency futures market, the USD/INR December open interest was down by 8.4%. The January contract witnessed an increase in open interest by 5.9%

• The US dollar is expected to attract some selling pressure on rallies against the INR. Traders are adviced to utilise the highs in the USD/INR December contract and sell below 53.16 for the target of 52.97/52.83 and a stop loss 53.25.

Indian Currency Tips and Updates for Today

• Yesterday, Indian rupee recouped its early losses against the US dollar, powered by some dollar selling from corporate and exporters, although sell-off in domestic shares coupled with gains in global US dollar over Geo-political tension at Korean peninsula kept the Asian currencies including rupee under pressure through the day.

• The USD/INR December open interest was up by 3.6%. The January contract witnessed an increase in open interest by 4.5%.

• Sentiments in Asian currencies and equities were hurt badly on safety demand in early trade after news hit the wires that North Korean leader Kim Jong-Il`s death could spark political instability between North and South Korea.

The US dollar is expected to attract some buying on declines against the INR. Utilise the lows in the USD/INR December contract and buy above 52.86 with target 53.05/53.12 and stop loss 52.77.

Indian Currency Tips Updates

USD/INR is consolidating on charts so traders can use the strategy of buy on lower levels. If this week USD/INR sustains above the level of 52.5100 then above the level of 52.7100 USD/INR can test the level of 52.8500/52.9800/53.1500.

Resistance: 55.1200 - 53.8000
Support: 51.6500 - 50.8200

For the week 49.5000 and 48.0000 will act as major supports and 53.8000 and 54.9000 will act as major resistance in USD/INR.

Indian Forex Currency Tips Updates for Today

• Indian rupee is expected to open another fresh record low against the US dollar vs. 53.89 of yesterday as overseas risk selling added fuel to domestic concern. Meanwhile, Indian shares  is likely to extend its losses in line with regional equities coupled with rise in global dollar further dampened the sentiments for rupee on capital outflow concern.

• The pound stayed higher against the euro after a report showed jobless claims rose at a slower pace than predicted in November.

• USD INR: 53.92- Pair is in strong uptrend. Ascending triangle chart pattern is visible on 15 minutes chart. Any correction in the counter should be used to initiate long positions.

• EUR INR: 70.22- Pair is respecting valid uptrend line on hourly chart. Any retest of the same could be used to take long positions.

• GBP INR: 83.32- Pair has completed the double bottom chart pattern and neckline is pegged at 82 levels. Any correction or retest of neckline should be used to initiate a long position for upside target of 84.5 levels.

• The US dollar is expected to attract some buying on declines against the INR. Utilize the lows in the USD/INR December contract to buy above 53.90 with target of 54.08/54.16 and a stop loss of 53.82.

• In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 53.92. The USD/INR December open interest was down by 0.8%. The January contract witnessed an increase in open interest by 21.3%.

Currency Tips for Today

USD/INR is consolidating on charts so traders can use the strategy of buy on lower levels. If this week USD/INR sustains above the level of 52.4100 then
above the level of 52.7100.
Resistance2- 53.0900, Resistance1- 52.4800, Support1- 51.1100, Support2- 50.3500

Strategy:- For this wwek 49.5000 and 48.0000 will act as major supports and 53.0500 and 53.8000 will act as major resistance in USD/INR.

Currency Tips Updates for Today

• Indian rupee will continue to widely drop against EUR, GBP and US dollar at open tracking Asian region`s weakness and poor performance by regional currencies like Korean won & Indonesian Rupiah despite risk sensitive currencies(EUR, GBP, AUD, NZD) have risen off their yesterday`s low. If the drop in the rupee vs. US dollar is swift then it will find resistance from exporters selling during the day, but if the fall is slow and gradual then it will remain broadly down across the board.

• The euro declined against the dollar and the yen, reversing gains, after a German government official said the nation rejects proposals to combine current and permanent euro-area rescue funds.

• Today Spot rupee is tipped to trade in 51.65-51.86 range vs. 51.72.

• In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 51.92. The USD/INR December open interest was down by 4.9%. The January contract witnessed an increase in open interest by 8.0%.

• The US dollar is expected to attract some buying on declines against the INR. Utilize the lows in the USD/INR December contract to buy above 51.73 with target of 51.90/51.98 and a stop loss of 51.64.

Currency Tips Updates for Today

• The 17-nation euro yesterday erased losses versus the dollar after the Financial Times reported that Europe may combine temporary and planned permanent rescue facilities to bolster its bailout resources.

• The euro ended a three-day drop versus the yen amid speculation Europe is working to expand funds available to the region`s most-indebted nations as leaders prepare to meet in Brussels tomorrow.

• The Australian Dollar rose after GDP data revealed stronger than expected economic activity in the 3rd quarter. Coming after the RBA`s latest rate cut, the figures could herald a pause in further central bank moves.

Currency Updates for Today

• The US dollar is expected to attract some buying on declines against the  INR. Utilize the lows in the USD/INR November contract to buy above 51.32 with target of 51.48/51.56 and a stop loss of 51.24.

• In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 51.42. The US$/INR December open interest was down by 0.5%. The January contract witnessed an increase in open interest by 4.9%.

• The yen weakened for a third day against the euro as stocks advanced around the world amid signs the U.S. economy is gathering momentum, reducing demand for safer assets.

Currency Outlook and Updates

USD INR: 51.7- Pair has completed the tiny double top pattern on the daily chart. Projected target according to pattern is around 51.05 levels.
RSI (14) has entered neutral region from the over bought, generating sell signal in the counter.

EUR INR: 69.66- Prices failed to move higher according to bullish pattern and has slide below the neckline support, on daily chart prices are on verge of violating the primary uptrend line.
RSI (14) is inline with chart pattern.

GBP INR: 81.67- Pair after almost achieving price target according to bullish head and shoulders pattern, turned its direction and slide sharply below the neckline support, further weakness is expected in the counter.
RSI (14) is balanced in neutral region.

The euro strengthened for a second day against the dollar and yen after Spain sold its maximum target of debt today and French yields dropped at an auction.
France auctioned 1.57 billion euros of 10-year bonds at an average yield of 3.18%, the Bank of France said. At its last auction on Nov. 3, the average yield was 3.22%. 

Australia`s dollar fell against all its major counterparts after the statistics bureau said the number of permits granted to build or renovate houses and apartments declined 10.7% in October after dropping 14.2% the previous month.

Indian Currency Outlook and Updates for Today

• The US dollar is expected to attract some selling pressure on rallies against the  INR. Utilize the highs in the USD/INR December contract to sell below 52.49 with target of 52.31/ 52.22 and a stop loss of 52.58.

• In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 52.30. The USD/INR December open interest was up by 2.7%. The January contract witnessed a decrease in open interest by 1.8%.
• Indian rupee is expected open slightly higher against the US dollar but again may have range bound session  if Europe sees muted action. For Rupee`s short-term as well as intraday movement depends on domestic news flows and India`s key Q2 GDP data and thereafter it reaction on stock market is crucial for rupee`s trend. Meanwhile at futures front in USD/INR (Dec) contract, technically speaking a decisive close below 52.10 would call for a major move downside to 51.66/74. While on upside, more risk is intact for a record high in the contract, a break above 52.42 takes it to 52.72 and that if breach then even much higher to 53.50. 
• Opening indications are mixed for the USDINR but the mood seems positive for the unit. Asian equities are down this morning as positive sentiments wane after downgrades of some European Banks.

Indian Currency Outlook Updates for Today: Indian Forex Tips

• Rally in USD/INR towards 52.25/25 is a good selling level with stop loss 52.45 for target 51.95.

• Dip in EUR/USD towards 1.3272/84 is a good buying level with stop loss 1.3241 for target 1.3391.

• Dip in GBP/USD towards 1.5456/66 is a good buying level with stop loss 1.5421 for target 1.5555.

• Dip in USD/JPY towards 77.80 is a good buying level with stop loss 77.43 for target 78.28.

Currency Outlook Updates for Today: Indian Forex Tips

• Indian rupee shall reverse its Friday`s losses against the US dollar after improved risk sentiments and gains in risk beta currencies such as Euro and Australian dollar. Asian equities have reacted pretty well in early trade on Italian aid news as Nikkei jumped nearly 1.8% to 8,301, Shanghai stayed flat at 2,381, while Hang Sang just shy away from 18,000 with 1.7% rise to 17,992. Rally in riskier currencies was supportive for gain in Asian currencies as South Korea`s won appreciated nearly 0.8 % to USD 1,154.50. The Spot Indian rupee is expected to open near 52.10 vs. 52.26 of Friday`s close and is tipped to move in the range of 51.90 - 52.25 against the dollar.

• In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 52.29. The USD/INR November open interest was down by 12.4%. The December contract witnessed an increase in open interest by 8.4%.

• The US dollar is expected to attract some selling pressure on rallies against the  INR. Utilize the highs in the USD/INR December contract to sell below 52.49 with target of 52.30/52.21 and a stop loss of 52.58.

• Asian currencies dropped for a fourth week, led by South Korea`s won and India`s rupee, as Europe`s debt crisis showed no signs of abating, prompting investors to favor safer assets including the dollar.

Currency Outlook Updates for Today: Indian Forex Tips

• In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 52.13. The USD/INR November open interest was down by 5.8%. The December contract witnessed an increase in open interest by 4.8%.

• The euro stayed under pressure in Asia on Friday amid investor jitters over the European debt crisis.

• Rupee snapped an eight-session losing streak, supported by dollar sales from corporates and some probable rollback of long-dollar positions.

• The Rupee closed 29 paise higher at Rs 52.06/07 per US dollar today after its eight-day losing streak was arrested by fresh selling of the American currency.

• The dollar may strengthen more than 20% to as high as 94 yen should it climb above key resistance levels at 83.30 and 85.50, MIG Bank said, citing trading patterns.

• The pound fell to a seven-week low against the dollar after German Chancellor Angela Merkel said joint euro bonds would send a ``wrong signal,`` spurring demand for the relative safety of the US currency.

• The US dollar is expected to attract some buying on declines against the INR. Utilise the lows in the USD/INR November contract to buy above 51.87 with target of 52.07/ 52.19 and a stop loss of 51.75.

Currency Tips for Today: Indian Forex Outlook

Indian rupee is expected to open weaker against the US dollar mainly in a range between 0.3-0.5% vs. 52.31/32 a dollar. It posted a historic low of 52.73 and chance of it getting crossed today is minimal as we believe either recovery in local stocks or RBI`s intervention mood could rather cool down its pace of depreciation. Relying on these two conditions during the day the biased for spot rupee is positive while it is expected to move in a range of 52.00- 52.48.

Indian Forex Tips: Outlook Strategy for Today

USD INR: 52.3
USD INR is in strong uptrend, on the edge of crossing previous high of 52.37, after crossing this further upside in the counter could also be seen.

EUR INR: 70.23
EUR INR is trending higher in rising channel and is on verge of testing the valid resistance line of rising channel. Some profit booking cannot be ruled at resistance level pegged at 71 levels.

GBP INR: 81.78
GBP INR is surging up in higher high/low fashion and is on verge of crossing the upper channel line on cross of which further upside could also be seen.

Indian Forex Tips: Trend and Strategy for Today

• Dip in USD/INR towards 51.39 is a good buying level with a stop of 51.22 for target of 51.74.

• Dip in EUR/USD towards 1.3496 is a good buying level with a stop of 1.3446 for target 1.3611.

• Dip in GBP/USD towards 1.5718 is a good buying level with a stop of 1.5680 for target 1.5806.

• Rally in USD/JPY towards 77.02/09 is a good selling level with a stop of 77.32 for target 76.72.

Indian Forex Tips: Trend and Outlook for Today

In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 50.88. The USD/INR November open interest was down by 2.2%. The December contract witnessed an increase in open interest by 4.7%.
The US dollar is expected to attract some buying on declines against the INR. Utilize the lows in the USD/INR November contract to buy above 50.72 with target of 50.90/50.98 and a stop loss of 50.63.

Indian rupee is likely to open lower to flat, slightly pressured by a stronger US dollar and weak sentiment after the US stock market closes lower, but signs of improvement in market sentiment led by recovery in euro could spur rally in rupee today. Range tipped for the day is 50.40-50.85 vs. last closed at 50.73/74 on Wednesday.

Indian Forex Tips: Trading Strategy for Today

• Dip in USD/INR towards 50.74 is a good buying level with a stop of 50.63 for a target of 51.05.

• Dip in EUR/USD towards 1.3435 is a good buying level with a stop of 1.3390 for a target of 1.3550.

• Dip in GBP/USD towards 1.5752 is a good buying level with a stop of 1.5715 for a target of 1.5840.

• Rally in USD/JPY towards 77.31/42 is a good selling level with a stop of 77.80 for a target of 76.78.

Forex Tips Today: Outlook and Strategy

Opening indications are positive for USDINR. Asian markets are down, with the Hang Seng down almost 2%. The rupee fell to a 32-month low against the dollar on Tuesday as worries about Europe`s debt crisis pushed up demand for the US currency. The euro dipped on Tuesday, stuck near the bottom of a recent trading range. Britain`s currency rose against the euro and gilts advanced.
In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 50.82. The USD/INR November open interest was up by 1.2%. The December contract witnessed an increase in open interest by 9.3%.
US dollar is expected to attract some buying on declines against the INR. Utilize the lows in the USD/INR November contract to buy above 50.62 with target 50.80/50.86 and stop loss 50.53.

Indian Forex Tips Today- Tuesday 15th November 2011

Indian rupee opened lower tracking declines in riskier currencies against the US dollar as investors turn risk-averse again on persisting concerns over Italy`s debt situation. For now, it seems all negative headlines are out due to which Rupee had already suffered its worst since end August. Its double whammy weakness due to lower growth and high Inflation seems to soon come an end. Therefore a higher move is expected today in USD/INR to 50.30/40 vs. 50.17 in spot would definitely a sell on rally bias.

Indian Forex Tips Today- Friday 11th November 2011

In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 49.30. The USD/INR November open interest was up by 4.8%. The December contract witnessed an increase in open interest by 8.6%.
The US dollar is expected to attract some buying on declines against the INR. Utilize the lows in the USD/INR November contract to buy above 49.90 with targets of 50.09/50.17 and stop loss 49.81.

Indian Forex Tips Today- Wednesday 9th November 2011

In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 49.62. The USD/INR November open interest was up by 6.3%. The December contract witnessed an increase in open interest by 1.6%.
The US dollar is expected to attract some selling on rallies against the INR. Utilise the highs in the USD/INR November contract, sell below 49.79 with target 49.64/49.56 and stop loss 49.87.

Indian Forex Tips Today- Saturday 5th November 2011

Indian rupee is expected to open widely higher against the US dollar in a range between 0.5 from 49.14/15 last close yesterday, as growth sensitive currencies(AUD, CAD, CHF) and regional currencies have gained much more than the majors. I expect this time our bias is strongly bullish on rupee based on  our technical formation on daily charts.

Indian Forex Tips Updates Today- Friday 4th November 2011

In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 49.39. The USD/INR November open interest was up by 4.6%. The December contract witnessed an increase in open interest by 2.9%.
The US dollar is expected to attract some selling on rallies against the INR. Utilise the highs in the USD/INR November contract sell below 49.53 with target 49.35/49.27 and strict stop loss of 49.62.

Indian Forex Tips News Updates Today- Thursday 3rd November 2011

In the currency futures market, most traded near-month dollar-rupee contract on the NSE closed at 49.62. The USD/INR November open interest was up by 6.6%. The December contract witnessed an increase in open interest by 3.9%
The US dollar is expected to attract some buying on declines against the INR. Utilise the lows in the USD/INR November contract to buy above above 49.40 for target of 49.57/49.65 and stop loss placed at 49.32.

Indian Forex Tips News Today

The US dollar is expected to attract some buying on declines against the INR. Utilize the lows in the USD/INR November contract to buy above above 49.18  for Target- 49.36/49.45 and Stop Loss- 49.09.
Indian Rupee is likely to follow the suit from Asian Currencies. Amongst the regional peers Korean won and Indonesian Rupiah are down by 0.5%. Therefore, even Rupee is expected open down by 10-12 paise from 49.27/28 a dollar close yesterday. In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 49.52. The USD/INR November open interest was down by 9.0%. The December contract witnessed an increase in open interest by 1.8%.

Forex Tips News Today

Indian rupee is expected open lower against the US dollar tracking broader strength in US dollar, but weakness likely to sustain is questionable looking at recent strength in INR. Exporters selling are heavy and importers are already done with their requirements. However, rupee is likely trade in full swing versus Euro while partially against Yen. USDRs (Nov) is bullish above 49.15.

Forex Tips and News Today- Friday 29th July 2011

Today the US dollar fell sharply, followed by a report that showed that the economic growth in the second quarter of 2011 was worse than it was expected.
Today the greenback was also trading at high level against the other currencies, advancing significantly both against the euro and the Great Britain pound before 12:30 GMT. After following the US GDP report, it slid to bearish against the euro and trades almost in the negative zone. The dollar is also down against the Japanese yen.
The gross domestic product increased at an annual rate of 1.3% in the Q2 2011 from the Q1 2011. The first quarter growth was revised down from 1.9% to 0.4%. The traders expected 1.8% gain in GDP on an average.
EUR/USD went up from 1.4327 to 1.4333 as of 13:09 GMT, trading as low as 1.4229. Today GBP/USD is trading near its opening level of — 1.6369. USD/JPY fell from 77.69 to 77.14.

Forex Tips for Today

Indian foreign exchange declined by 112 million to $314.50 billion for the week ended July 15 due to a sharp drop in the value of foreign currency assets.
Foreign currency assets, the biggest component of the forex reserves kitty, dropped by $115 million to $282.29 billion during the week under review, according to the weekly statistical supplement of the Reserve Bank of India (RBI).
The foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.
The value of special drawing rights (SDRs) increased by $2 million to $4.58 billion and reserves with the International Monetary Fund rose by $1 million to $2.95 billion.

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