Australian dollar

The Australian dollar fell after a government report showed retail sales dropped the most in six years, adding to signs the economy is slowing.
Technical view 31.07.08
AUD is expected to be on a bearish note for the day. With the trading range expected between 0.9380-0.9480.With good support seen at 0.9370 levels and resistance is seen at 0.9485.Currency is seen trading below the moving averages giving bearish outlook .

Yen remains steady trading at 107.90 levels.

tECHNICAL VIEW 31.07.08
YEN is expected to be on downtrend for the day .trading range is expected between 107.40-108.20 for the day. currency has its support at 107.30 levels and holds resistance at 108.30 levels. currency is trading above the moving average yet momentum indicates currency to have downward movement for the day.

GBP IN DOWNTREND

TECHNICAL VIEW 31.07.08
GBP is expected to be on a downtrend for the day with the trading range of 1.9750-1.9840.With good support seen at 1.9740 levels and resistance for the currency is seen at 1.9860 levels. Chart pattern hints towards a upward correction for the day. stochastic remains in neutral .

EURO ON MIXED NOTE

The dollar held steady near a one-month high against a basket of currencies after jumping on a sharp drop in oil prices and an unexpected rise in U.S. consumer confidence. The dollar traded near a one-month high against the Euro before a government report that is forecast to show the pace of U.S. economic growth doubled in the second quarter.
Tehnical view 30.07.08
EURO is expected to be on mixed for the day . currency holds its resistance at 1.5650 levels for the day and lends its support at 1.5510 levels. trading range is expected between 1.5520-1.5640 levels for the day. momentum indicates downtrend yet chart pattern shows a upward consolidation in the resistance levels in near term

RUPEE is seen down

RUPEE is seen Down more as oil companies are expected to step in to buy dollars around 42.51 per $1 levels. Fall in local shares dents sentiment for rupee further.
technical view 31.07.08
USD/INR expected to trade mixed. With the trading range expected between 42.40-42.65.Good support is seen at 42.30 levels and key resistance for the currency is seen at 42.70 levels. Stochastic is seen trending up supporting the movement of currency to touch the resistance levels.

Evening Report-jul 28.

Indian Rupee eased against the Greenback on expectations of sustained dollar demand from oil refiners amid steady to better trend in equity markets. The focus is on whether the RBI follows up on its 75 bps inter-meeting hikes with raising rates again at Tuesday's scheduled policy meeting.Dollar strengthened with Positive outlook on US economy after the congress passed a legislation to bolster the two big mortgage giants Fannie Mae and Freddie Mac and on a slew of encouraging US economic reports released on Friday.Greenback declined against Euro as economic outlook for Germany remains bleak as consumer confidence declined toto 2.1 the lowest level . Soaring energy prices coupled with upwards inflationary pressures have diminished consumer purchasing power. Additionally, record food prices and the U.S. housing slump has decreased demand for exports, also squeezing the economy.Greenback was steady versus the sterling, consolidating its gains .Currency tested offers at 1.9927 and was supported at 1.9842 levels for the day .U.S. dollar slipped versus the yen after better-than-feared U.S. housing and consumer sentiment data did little to change an overall view of a weak U.S. economy.Gain in some Asian markets also prompted investors to buy high yielding assets funded with loans from Japan.

Aussie foolowing the commodity slide-jul 28.

Australian Dollar came under pressure as commodities continued to slide and the USD strengthened. Looking ahead for RBA Assistant Governor to speak.

Tech Outlook:
AUD is expected to be on a bearish note for the day. With the trading range expected between 0.9480-0.9580.With good support seen at 0.9450 levels and resistance is seen at 0.9590.Currency is seen trading below the moving averages giving bearish outlook .Parabolic and Momentum is also supporting the bear note.

Euro and pound seen sideways-jul 28.

Euro fell the most against the dollar with a drop in German business confidence and a decline in European manufacturing and services reducing expectations for European Central Bank interest-rate cuts. Looking ahead for German Consumer confidence with a forecast of 3.5 . Sterling rebounded as 2ndQuarter GDP came in at expectations 0.2% . UK Home track House Prices showed another dip, falling to -4.4% .

Tech Outlook:

EURO is expected to trade in the range of 1.5650-1.5760.With Good support seen at 1.5620 level and key resistance is seen at 1.5780 levels. Chart pattern shows the possibility of slight upward correction as stochastic is hinting towards a slight upward correction. But currency is still trading below the moving average giving a caution signal.

GBP is expected to be on a bear note for the day with the trading range of 1.9830-1.9920.With good support seen at 1.9815 levels and resistance for the currency is seen at 1.9930 levels. Chart pattern hints towards a downside correction for the day. Currency is trading below the moving average giving bearish crossovers for the day and stochastic is also trending down.

Rupee moves down amid dollar demand from oil refiners

Rupee erased early gains as banks bought dollars for importers and some oil companies. Exporters and importers are both active in the market .The fall in global crude oil prices could also keep the Indian currency from weakening sharply.

Tech View:
USD/INR expected to trade mixed. With the trading range expected between 42.15-42.42.Good support is seen at 42.13 levels and key resistance for the currency is seen at 42.56 levels. Stochastic is seen trending up supporting the bull view but the currency is trading on the moving average so only a crossover can confirm the trend.

Evening report-jul 25.

Rupee weakend mirroring the greenback's appreciation in the spot market as local shares declined.There was some amount of buying here as greenback has risen against the India Unit. U.S.Dollar retreated from a two-week high versus a basket of major currencies , knocked by weaker-than-expected U.S. housing and jobs data, lower equity markets and higher oil prices.EURUSD stabilized and regained its footing as German import prices rose 8.9% on the back of higher energy costs.Meanwhile, the M3 money supply in July fell to 9.5% from 10.4% due to slowing growth. As growth declines the ECB will be hard pressed to raise rate further. GBPUSD roared back trading above 1.9950 as U.K. economic growth slowed to 1.6% , which was the slowest pace since 2001. Gross domestic product rose 0.2% , as the housing slump and fall out from the subprime crisis saw construction, manufacturing and financial services fall. The economy is steadily approaching a recession as overall production fell 0.5% in the second quarter. Slow growth and rising inflation is expected to leave the BoE on Hold. USDJPY surprised to the upside as Japanese inflation rose to 2.0% , on soaring gas and food prices. The higher costs are curbing consumer and business spending is impacting growth. Although prices are near the higher end of the BoJ’s target band, the central bank will most likely leave rates unchanged as the country heads towards a recession

AUSSIE WEAK-JUL 25.

Australian Dollar was unable to recover as commodities remained weak and risk aversion spiked. Tech Outlook:
AUD is expected to be on a bearish note for the day. With the trading range expected between 0.9480-0.9610.With good support seen at 0.9450 levels and resistance is seen at 0.9630.Currency is seen trading below the moving averages giving bearish outlook .Parabolic and Momentum is also supporting the bear note. Stochastic remains silent on the issue.

Euro and sterling under pressure-jul 25.

The Euro came under pressure during the European session as a raft of data disappointed. July Preliminary Services PMI came in at 48.3 and the Manufacturing PMI came in at 47.5. The German IFO Business Climate Index came at 97.5. Looking ahead for June Import Prices seen up 1%. The Sterling fell heavily as UK retail sales hit a record low for June falling 3.9% after rising 3.6% in May. The cable broke out of its recent range, breaking through the downside and giving up most of yesterday’s impressive gains against the EURO and JPY. Looking ahead for Preliminary 2nd GDP with a for cast of 0.2% vs. 0.3% in the 1st.

Tech outlook:

EURO is expected to trade in the range of 1.5620-1.5730.With Good support seen at 1.5600 level and key resistance is seen at 1.5750 levels. Currency is trading well below the moving average. Chart pattern shows the possibility of slight upward correction as Momentum is hinting towards a slight upward correction.

GBP is expected to be mixed for the day and trade in the range of 1.9770-1.9920.With good support seen at 1.9750 levels and resistance for the currency is seen at 1.9930 levels. Chart pattern hints towards a small downside correction for the day. Currency is trading below the moving average giving bearish crossovers for the day and stochastic is also trending down.

Rupee weak on month-end oil demand

Rupee extended weakness against the U.S. dollar as banks bought dollars anticipating foreign funds may liquidate local shares. The rupee also lost ground due to negative cues coming from the equity market and due to month-end payments from oil companies

Tech Outlook:
USD/INR expected to be on a bull run. With the trading range expected between 42.15-42.42.Good support is seen at 42.13 levels and key resistance for the currency is seen at 42.56 levels. Stochastic and Momentum are seen trending up supporting the bull view. Caution is required as the currency is trading below the moving average(42.38) which is seen as the immediate resistance.

EVENING REPORT-JUL 25.

Rupee weakened and closed at 42.14 levels against U.S. dollar as banks continued to buy dollars to meet demand from major oil companies. U.S dollar held firm supported by falling oil prices and market talk of possible US interest rate rises.Looking ahead for Weekly Jobless Claims and June Home Sales data.EURUSD declined to 1.5630 levels after July German IFO –business indicator fell to 97.5.Economy continues to show signs of slowing down as the Euro-Zone PMI composite fell to 47.8 . The downside risks of the economy may keep the ECB from another rate hike, especially with oil prices easing.GBPUSD was supported at 1.9830 levls as U.K. retail sales fell 3.9%. The decline was led by a 6.9% drop in apparel purchases as many Britons started buying seasonal items in May due to abnormally warm weather. Food sales also declined 3.6% as costs for basic staples like rice remains at record levels. However, as long as inflation concerns remain the BoE may leave rates unchanged for the remainder of the year.USDJPY was seen flat and took support at 107.60 levels as Japan’s adjusted merchandise trade balance surplus decline to 138.6 billion as exports fell 1.7%. Slowing demand for cars and electronics worldwide saw demand fall to the lowest in more than four years. Rising inflation across Asia is weighing on emerging market demand which has been the source of growth for the country
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Heavy selling in Aussie-jul 24.

Australian Dollar fell hard for the 3rd day as the commodity complex continued to slide. AUD is expected to be on a bearish note for the day. With the trading range expected between 0.9530-0.9620.With good support seen at 0.9520 levels and resistance is seen at 0.9630.Currency is seen trading below the moving averages giving bearish outlook .Parabolic and Momentum is also supporting the bear note.

Euro and pound continuesto slide.-jul 24

The Euro continued to slide against the dollar as commodities fell and economic data weakened. May Industrial Orders were down 3.5%. Looking ahead for heavy data day with July German PMI services seen at 51.5 while Euro zone’s is seen at 48.8. Euro zone’s PMI manufacturing is forecast at 48.7. The July German IFO index is keenly anticipated with the market forecasting 100. Sterling received a major boost yesterday gaining against all the major currencies as the July MPC meeting minutes came in a surprising 7-1-1. MPC member Beasley voted for a rate hike on concerns that medium inflation was the most important threat to the UK economy. Looking ahead for June Retail Sales are seen at -2.5% down from May’s surprising 3.5% rise.

Tech outlook:

EURO chart pattern shows a doji,remains indecisive on the trend. With the trading range expected between 1.5640 -1.5730 levels for the day . currency has its support at 1.5620 levels and holds resistance at 1.5750 levels for the day. Currency is trading well below the moving averages and and is expected to test the Lower Band levels in Bollinger analysis .

GBP is expected to trade in the range of 1.9910-2.0023.With good support seen at 1.9890 levels and resistance for the currency is seen at 2.003.Chart pattern hints towards a small downside correction for the day. Currency is trading below the moving average giving bearish crossovers for the day.

Rupee eased with crude prices-jul 24.

Rupee had touched 41.83 per $1 after local shares opened about 1% up and as global crude oil prices eased below $125 a barrel . Currency trimmed gains as banks bought dollars noting the decline in local shares

Tech Outlook:

USD/INR expected to trade mixed for the day with the trading range of 41.75-42.10 levels. Good support is seen at 41.72 and key resistance for the currency is seen at 42.20 levels. Currency has already tested the Lower Band level and is expected to rise and test 42.07 levels for the day .If the market sustains above 42.07 levels then 42.20 is expected for the day. Stochastic in oversold territory gives a nod to bullish view.

Evening report-jul 23.

Rupee ends at 42.08 helped by a firm stock market after the government won the vote of confidence, with lower oil prices also boosting sentiment. The dollar continued to propp up against the counterparts by lower oil prices and renewed speculation about possible U.S. interest rate hikes.Currency received support from the hawkish comments from Plosser cited as key factors that triggered the rebound.The extent of the US slowdown will be reported in today’s Beige BookEURUSD declined to 1.5715 levels as European industrial new orders dropped 3.5% in May, which was twice the estimate. German orders fell for a sixth month as a strong Euro and made exports less competitive. The region continues to show signs of slowing growth, which may keep the ECB on hold.GBPUSD rose to 2.0015 as BoE voted to leave interest rates unchanged . The minutes from the meeting showed that Tim Besley voted for a quarter point rate hike, while dove David Blanchflower called for a rate cut. The majority voted to leave rates unchanged as they see the inflation rising higher than initially expected, while the housing and growth slowdown is becoming more pronounced, signaling that rates may remain unchanged for the remainder of the year. The dollar hit a one-month peak against the yen , buoyed by a sharp slide in oil prices, a recovery in stocks and hawkish rhetoric from U.S. officials.

Evening Report -jul 22.

Indian Rupee closed at 42.72 levels triming early losses with the help of firm stock market but caution prevailed ahead of a confidence vote in parliament that would decide the fate of the government.U.S. Dollar got a slight boost previously from Bank of America results which were better than expected, but dismal earnings after the bell from other companies reinforced gloom on the economy. U.S. economy is suffering as the credit crisis hits the housing market and banks, expectations that the Federal Reserve would raise interest rates before the end of the year to curb inflation pressures are fading. .The dollar was stuck near recent record lows versus the Euro , with investors focusing on worries about the U.S. financial sector.With no first tier euro zone or U.S. data on the calendar until Thursday, trading was subdued and moves limited.Pound was firmer against the dollar, trading at $2.0007 , ahead of outgoing Bank of England deputy governor's speech.Yen fell as investors edged back into relatively risky carry trades, where they sell the low yielding currency to fund purchases of higher yielding assets after the better than expected Bank of America results.

Aussie seen flat -jul 22.

Australian Dollar was flat , trading in quiet conditions ahead of the latest round of inflation figures .

Tech Outlook:
AUD is expected to be on a mixed note for the day. With the trading range expected between 0.9710-0.9780.With good support seen at 0.9690 levels and resistance is seen at 0.9790.Currency is seen trading above the moving averages and Momentum is also seen trending up.

Euro and Pound on a bull rally-jul 22.

Euro gained against most currencies as Oil rebounded and the equity rally stalled. Euro rose on American Express Co commented that profits dropped because of more consumers defaulted on loans, raising concern that the U.S. economic slowdown will deepen. Sterling was able to rebound off the lows of the day as markets digested comments from ultra dove MPC member Blanch flower that the UK was already in recession and news that HBOS share offering was severely under subscribed. Looking ahead for Bank of England Governor King speaks

Tech Outlook:
EURO is expected to be on a bull note for the day. With the trading range expected between 1.5870 -1.5970 levels for the day . currency has its support at 1.5850 levels and holds resistance at 1.5990 levels for the day. Currency is trading well above the moving averages and Momentum is seen trending up supporting the bull view. Caution is required as chart pattern and averages shows the possibility of downside correction .

GBP is expected to trade in the range of 1.9950-2.0073.With good support seen at 1.9920 levels and resistance for the currency is seen at 2.0095.Chart pattern hints towards a small downside correction for the day. Currency is trading on the moving average only a breach below(1.9990) can confirm the bear note.

Rupee higly volatile

Rupee extended fall against the U.S. dollar as banks continued to buy greenback to meet demand from importers. Strong demand from importers also prompted some banks to cover short dollar positions. Market players are nervous over the political uncertainty. Asian equity markets are also negative.

Tech outlook:

USD/INR is expected to be highly volatile for the day as bollingers are wide open. It is expected to trade in the range of 42.65-42.95.With good support is seen 42.58 and resistance 42.97 levels.

Evening report-jul 21.

The Indian unit moved in a narrow range as dollar demand from importers offset supply from exporters.Market witnessed large buying by companies, with rupee moving in a narrow range ahead of the United Progressive Alliance government's vote of confidence.Dollar continued to be weighed down on concerns about the health of the U.S. financial sector ahead of earnings reports from regional banks, while investors focussed on a proposed rescue plan for Fannie Mae and Freddie Mac. EURUSD traded mixed and tested offers around 1.5907 and was supported at 1.5830 The Euro-Zone trade balance turned to a deficit of 4.6 billion from a surplus of 2.5 billion as a strong Euro weighed on exports and rising oil prices saw the energy deficit climb to 99.7 billion. Meanwhile the German producer prices in June rose to 6.7%. Rising inflation continues to be a concern for the ECB, but the slowing growth in the region may prevent the central bank from further rate hikes.USDGBP traded mixed and tested offers around 1.9980 and was supported at 1.9905 as the U.K. M4 money supply increased 2%. Meanwhile the public sector net borrowing decreased to 9.2B as credit markets remain sticky. The inability of borrowers to get mortgages has continued to depress the housing sector, which has dragged the country to the brink of a recession. USDJPY traded on a bull note and tested 107.13 as Japan nationwide department stores sales fell 7.6 % in June after a 2.7 decline the month prior. It was the largest decline on record dating back to 1997. A 14.6% fall in clothing sales led the way, as consumers have tightened their wallets in the face of rising inflation and a slowing economy. Indeed, BoJ Governor stated that the central bank weighs downside risks to growth and upside risks to inflation equally, leaving the MPC with no policy direction.

Rupee is set to gain-jul 21.

The rupee is set to gain , thanks to oil hovering around $130 a barrel and higher Asian Stock markets, which could underpin local stocks and revive inflows.

Tech Outlook:

USD/INR is expected to be on a tight range.With the trading range between 42.62-42.88.with good support seen at 42.58 levels and key Resistance is seen at 42.92 levels. Chart pattern signals a bull pattern but caution is required as it is trading below the moving average.

Aussie lost ground

Australian Dollar lost ground as Gold and Oil continued to retrace gains but was supported by continued demand for the high yielder especially against the JPY. Looking ahead, 2nd Quarter PPI is seen at 1.6% slightly lower than 1.9% in the first Quarter.

Tech outlook:
AUD is expected to be on bull note for the day. With the trading range expected between 0.9680-0.9805.Support for the currency is seen at 0.9650 levels and resistance is seen at 0.9820 levels Currency is trading well above the moving averages
and raising stochastic is also supporting the bull note.

Euro and Pound Mixed against Greenback-jul 21.

Dollar weakened versus the Euro after U.S. Treasury Secretary told that the economy is in a ``challenging time'' and probably will have slow growth for months because of higher oil prices.
The Sterling traded in a slightly offered tone due to Dollar strength and rumors of a relaxing of Government Public debt guidelines .Currency fell after a private industry report showed U.K. house prices dropped .

Tech view:

EURO is expected to be on a mixed note for the day. With the trading range expected between 1.5790 -1.5920 levels for the day . currency has its support at 1.5760 levels and holds resistance at 1.5930 levels for the day. Currency is seen trading between the fast and slow moving average giving indication of sideways movement. Caution is given by Stochastic which is seen trending up.

GBP chart pattern shows a double top formation hinting towards a bearish correction . With the trading range expected between 1.9890-1.9990 levels for the day. currency has its support at 1.9860 levels for the day and resistance is seen at 1.9998 levels for the day. momentum and stochastic are trending down supporting the bear note.

aussie on weaker note.-jul 18

Australian dollar closed weaker for the third day in a row following a stronger US dollar that was boosted by comments from the European Central Bank (ECB) chief who said euro zone economic growth would stall in coming months.
Tech Outlook:
AUD is expected to be on correction phase by formating a spike in the morning session . the indecisive movement would take upward direction by breaching 0.9750 levels in near term .trading range is expected between 0.96940levels and holds resistance at 0.9740 levels. Momentum remains in neutral phase.

Euro and pound in tight range-jul 18.

Euro, meanwhile, was capped by European Central Bank President Jean-Claude Trichet's that euro zone growth is likely to be weak in the second and third quarter before staging a recovery.
Sterling traded in a tight range pivoting the key 2.00 level. Looking ahead for Public Sector net borrowing is seen at 7.4 Billion.
Tech view:
EURO is expected to be down trend for the day. With the trading range expected between 1.5780 -1.5890 levels for the day . currency has its support at 1.5760 levels and holds resistance at 1.5910 levels for the day. momentum is trending towards the downside thereby hinting the currency to be in bear run. stochastic still lies in overbought areas and expected to give a downward correction in near term.
GBP chart pattern hints a double top wherein neckline breakout is expected , taking the currency to be on downside for the day . trading range is expected between 1.9890-2.0040levels for the day. currency has its support at 1.9860 levels for the day and resistance is seen at 1.2.0050 levels for the day. momentum is hinting for the downside movement for the day

Rupee gained on oil bears.-jul 18.

The rupee climbed , as oil backed further away from record highs easing concerns of a widening trade deficit.

Tech Outlook:
USD/INR is expected to give a downward correction for the day. With the trading range expected between 42.60-42.97.With good support seen at 42.58 levels and key resistance for the currency is seen at 43.05 levels. Currency is trading on the Lower Bollinger's but is seen trending up and is expected to test the moving average levels of 42.965.

Indian rupee

Indian rupee rose , boosted by a sharp drop in oil prices and a rebound in stock markets also helped to ease concerns of outflows
Technical view 17.07.08
USD/INR is expected to give a downward correction for the day. With the trading range expected between 42.75-43.07.With good support seen at 42.70 levels and key resistance for the currency is seen at 43.12 levels. Currency has given a lower open and Chart pattern indicates a bearish note in the currency as it is seen trading below the moving averages and is expected to test the lower Bollinger level in near term.

EURO dropped

The Euro dropped in sympathy with the large sell off in Oil and Gold. Euro Sentiment has soured slightly as economic conditions continued to weaken suggesting there will be little decoupling from US problems. June CPI was confirmed at 4.0%. Looking ahead for the June HICP which is expected at 0.4% after jumping 0.6% last month.

TECHNICAL VIEW 17.07.08
EURO is expected to be on mixed note for the day. With the trading range expected between 1.5790-1.5900 levels. Good support is seen at 1.5770 levels and resistance at 1.5920.Momentum and stochastic are seen trending upwards .But currency is seen trading between the fast and slow moving averages.
EURO/INR: Expected to trade in red with the trading range of 67.20-68.35 Levels.

sterling mixed

Sterling had a fairly mixed day with cable breaking below the key 2.00 level on US strength. UK data continued to under perform with June Claimant Count rising to 15.5Kin its fastest rate in 15 years. Average earning rose by 3.8% in May
TECHNICAL VIEW FOR THE DAY 17.7.08
POUND is expected to be on mixed note for the day. Trading range is expected between 1.9960-2.009 levels for the day. support for the currency is seen at 1.9940 levels and resistance is seen at 2.010 levels. stochastic indicates the currency to be on downside for the day. RSI is in neutral territory keeping silent on the issue. Raising Momentum gives a caution signal.
GBP/INR:Expected to trade in red with the trading range of 85.10-86.11 levels.

Japanese Yen GAINS

Japanese Yen was able to make good gains as Europeans shares traded lower but reversed as positive data out of the US initiated stock gains.

TECHNICAL VIEW:
YEN chart pattern indicates the currency to be on downside for the day. Trading range is expected between 104.20 -105.80 levels for the day. currency lends its support at 104.09 levels and holds resistance at 105.90 levels. stochastic and Relative Market strength gives a bearish outlook for the currency and it is also seen trading below the moving averages confirming the bear note.
YEN/INR:Expected to trade in red with the trading range of 0.4080-0.4140 levels.

Australian Dollar pulled back

Australian Dollar pulled back from all time highs as commodities were broadly lower lead by Oil. RBA governor Stevens gave a dovish comments that “in the future we will look back at this period as one of high interest rates” .

TECHNICAL VIEW:
AUD is expected to be on bull trend for the day. trading range is expected between 0.9706-0.9830 levels. currency offers support at 0.9700 and resistance is eyed at 0.9840 levels. Momentum and stochastic trends upwards giving a bullish view.

EVENING REPORT-JUL 16.

Indian rupee ended at 43.08 after global oil prices dropped, easing concerns of a widening trade deficit but worries about rising outflows from local shares was seen limiting gains. Market is probably celebrating the fall in oil prices, but the negative factors like outflows from the stock market and the political uncertainty trimmed gains. The dollar weakened against its major counterparts on fears that the US financial institutions may suffer more losses due to the damage inflicted by the housing market crunch. Adding fuel to the fire, Federal Reserve Chairman Ben Bernanke comments that inflation was likely to move temporarily higher and there is significant downside risk to growth. Euro Slightly Down Against Dollar as German, French and Euro Zone final inflation figures showed no change to the original estimates. Euro zone inflation still stands at a record 4 % .Sterling is weaker after poor UK unemployment figures. Slowing global economy, rising inflation and the worst housing slump since the last recession have led to employers cutting jobs as the growth outlook dims. The BOE has paused their recent easing policy as they try and rein in inflation that has breached the central bank’s 3% threshold .Japanese yen gained against other major currencies and tested offers at 104.06 as fall in stock prices resulted in unwinding of 'carry trade'.

Aussie hit a 25-year high -jul 15.

Australian dollar hit a 25-year high against the U.S. dollar after minutes of the Reserve Bank of Australia's July meeting showed the central bank remained concerned about inflation, suggesting it will likely keep rates at a 12-year high and may even hike again.

Tech Outlook:

AUD chart pattern indicates the currency to be on bull note . With the trading range expected between 0.9697-0.9780 levels. Support for the currency is seen at 0.9690 levels and resistance is seen at 0.9790 levels for the day. Momentum and stochastic are signaling towards bullish movement for the day. Moving averages are also giving bullish crossovers .

Rupee weakens ahead of CRR-jul 15

The rupee today fell sharply against the US currency following distinctly weak trend in equity markets and capital outflows amid dollar buying by some banks.

Tech outlook:

The rupee today fell sharply by another 20 paise to 43.12/13 against the US currency early this morning following distinctly weak trend in equity markets and capital outflows amid dollar buying by some banks.

Euro races to record high $1.6038 on US woes

European single currency surged to an all-time high above 1.60 dollars on Tuesday on mounting investor fears about the stormy US economic outlook.euro's rally was only very briefly dented by a bigger than forecast slump in the German ZEW investor expectations index to a series

Tech outlook:

EURO is expected to be on a bull note for the day. With the trading range expected between 1.5830-1.5970 levels. Good support for the currency is seen at 1.5810 levels. Key resistance for the currency is seen at 1.5980 levels. Momentum and stochastic are trending upwards giving cues for the currency to have bullish correction for the day. Moving average and relative strength index are also confirming the view.

Aussie prefers to stay green-jul 14.

Australian dollar rose on speculation that the economy will withstand widening losses among U.S. financial institutions and U.S. Sub prime-mortgage crisis may deepen prompting investors to seek higher-yielding assets in the South Pacific nation.

Tech Outlook:

AUD chart pattern indicates the currency to be on bull note . With the trading range expected between 0.9640-0.9720 levels. Support for the currency is seen at 0.9620 levels and resistance is seen at 0.9750 levels for the day. Momentum and stochastic are signaling towards bullish movement for the day. Moving averages are giving bullish crossovers .

Dollar rose against Euro and pound-jul 14

The dollar rose against the Euro after the U.S. Treasury and Federal Reserve launched sweeping measures to assist embattled mortgage lenders Fannie Mae and Freddie Mac .Looking ahead, May Industrial Production for the Euro zone is expected to fall -2.3% down from +0.9% in April

Tech Outlook
EURO is expected to be on bearish note for the day. With the trading range expected between 1.5850-1.5940 levels. support for the currency is seen at 1.5830 levels. good resistance for the currency is seen at 1.5970 levels. Momentum and stochastic are trending downwards giving cues for the currency to have downward correction for the day. But caution is given by moving averages.

POUND is expected to be on downside for the day. With the trading range expected between 1.9800-1.9940 levels for the day. support for the currency is seen at 1.9780 levels and resistance is seen at 1.9950 levels. stochastic hints for the downward correction for the day. But currency is seen trading above the fast moving average and Momentum is seen flat giving no confirmation on the trend.

Indian Rupee gains ,stocks eyed

Indian rupee gained on the back of gains in Asian shares and a drop in oil prices but weakness in the currency's offshore market limited the rise.

Tech Outlook:

USD/INR is expected to be on a bull note and trade in the range of 42.75-42.96.With good support seen at 42.70 levels. key resistance for the currency is seen at 43.02.Chart pattern hints towards the possibility of buys in the currency but the up trend can be confirmed only with the break of 42.88 levels. currency is seen trading below the moving average giving a caution signal.

AUSSIE ADVANCED WITH COMMODITIES-JUL 11

Australian dollar approached its highest as higher prices of commodities and the nation exports boosted the outlook for the economy. Aussie rose on speculation on credit-market losses in the U.S. will deepen,undermining Fed to raise interest rates

TECH OUTLOOK:

AUD chart pattern indicates the currency to be on bear run . With the trading range expected between 0.9590-0.9630 levels. Support for the currency is seen at 0.9560 levels and resistance is seen at 0.9650 levels for the day. Momentum and stochastic are signaling towards a bearish movement .

EURO AND POUND MIXED

Dollar headed for a weekly loss against the Euro on speculation a report today will show U.S. consumer confidence fell to a 28-year low, signaling the Federal Reserve will refrain from raising interest rates. British Pound fell against the U.S. dollar after the Bank of England left interest rates unchanged, signaling that inflation was more pressing than growth.

TECH OUTLOOK:
EURO is expected to be on mixed note for the day. Trading range is expected between 1.5710-1.5850 levels. support for the currency is seen at 1.5680 levels. Good resistance for the currency is seen at 1.5870 levels. Momentum is trending downwards thereby expecting the currency to have downward correction from its resistance levels.
POUND is expected to be on downside for the day. Trading range is expected between 1.9690-1.9810 levels for the day. support for the currency is seen at 1.9680 levels and resistance is seen at 1.9830 levels. stochastic and momentum hints for the downward movement of the currency for the day.

RUPEE GAINS ON DOLLAR SALES

Rupee gained after opening steady as banks sold dollars on view an expected gain in local shares may see investments from foreign funds. Sentiment for local shares is seen positive after technology bellwether Infosys Technologies reported robust earnings

TECH OUTLOOK:

Rupee is expected to be on a bearish note and trade in the range of 42.75-42.96.With good support seen at 42.70 levels. key resistance for the currency is seen at 43.06.currency is seen trading below the moving average and is trying to test the lower Bollingers levels.

Evening report-jul 10.

Rupee stayed firm against the greenback as some foreign banks sold dollars for exporters.Exporters were seen selling dollars around the 43.17-43.18 , which pushed up the rupee.Dollar steadied after oil's steep drop was halted, but investors remained cautious due to worries about more credit-related losses and the economy. Euro was lower against the U.S. dollar after the president of the European Central Bank warned that an inflation price spiral was evident in the euro zone.British pound fell to US$1.9776 from US$1.9818 as Bank of England held the interest rates steady at 5 percent to reduce concerns about rising inflation.The housing slump and tight credit markets are dragging the country toward recession, making it prohibitive for the MPC to raise rates to battle inflation. Yen fell to 107.40 after Japan’s domestic corporate goods price index rose to a 27 year high of 5.6% in June.The BoJ finds itself caught between slowing growth and rising prices

AUSSIE GAINED -JUL 10.

Australian dollar gained against the U.S. currency after a government report showed rebound in jobs.
TECH OUTLOOK:
AUD chart pattern indicates the currency to be on bull run . With the trading range expected between 0.9570-0.9630 levels. Support for the currency is seen at 0.9550 levels and resistance is seen at 0.9650 levels for the day. Momentum and stochastic are signaling towards a bullish movement and Currency is also seen trading below the fast moving averages supporting the view.

EURO AND POUND RANGEBOUND.-JUL 10

The dollar and Euro are in a tug-of-war as both have weak spots. The pair is likely to remain in tight ranges.

TECH OUTLOOK:
Euro chart pattern shows a tight trading range for the day. Currency is expected to trade between 1.5660-1.5750.With good support seen at 1.5640 levels. key resistance is seen at 1.5780 levels. Currency is trading between the fast and slow moving averages. Stochastic is trending down supporting the bear note.

Rupee weak taking cuesfrom stock market.-JUL 10.

Rupee weakened , taking cues from weaker Asian stock markets but signs of political stability and likely RBI intervention may check sharp falls.

TECH OUTLOOK:
Rupee is expected to trade in the range of 43.10-43.31.With good support seen at 43.06 levels. key resistance for the currency is seen at 43.38.currency is seen trading on the moving averages giving no confirmation of the trend. Widen Bollingers indicates a volatile day for the currency. Stochastic also hints towards a bullish move.

EVENING REPORT-JUL 09

Rupee ends at 43.1250 and stayed firm because banks sold dollars tracking fall in offshore non-deliverable forward rate Banks also sold dollars expecting inflows from foreign funds as local shares extended gains Dollar eased as oil prices rebounded, after geopolitical tensions were pushed back onto investors' radar by news of Iran test-firing missiles and of an armed attack on the U.S. consulate in Turkey. Euro falls against majors amid Euro-Zone GDP data and on European Central Bank President comments that it is important for the U.S. to keep repeating support for a strong currency. British pound lower against the US dollar despite modest rebound in house prices the business confidence continues to suffer. Visible Trade Balance remained essentially unchanged at –7.5 Billion .Greenback was little changed at 107.43 yen. Aussie dollar lost ground after a drop in consumer confidence and following a report showing a biggest fall in demand for home mortgages

AUSSIE IN RED.-JUL 09.

Australian dollar plunged to new multi-day lows against its major after a report showed that consumer confidence in fell a on record oil prices and a slide in the stock market

TECH OUTLOOK:
AUD chart pattern indicates the currency to be on downside for the day . With the trading range expected between 0.9470-0.9560 levels. Support for the currency is seen at 0.9450 levels and resistance is seen at 0.9580 levels for the day. Momentum and stochastic are signaling towards the possibility of bearish correction for the day. Currency is also seen trading below the fast moving averages.

GREENBACK STRONG AGAINST EURO AND POUND.-JUL 09

Greenback has been stuck near a record low against the Euro as investors have fretted about steep oil prices, more sub prime mortgage troubles at U.S. banks and the Fed possibility of keeping interest rates on hold to nurture the economy. Sterling dropped on poor trade Balance data from U.K. market

TECH OUTLOOK:

Euro chart pattern hints towards a mixed trend to continue for the day. With the trading range of 1.5620-1.5750 levels. With good support seen at 1.5600 levels and key resistance for the currency is seen at 1.5780.Currency is seen trading well below the fast moving averages and Momentum is also seen trending down supporting the bear trend but stochastic at neutral territory remains silent on the issue.

Pound is expected to give a small upward correction for the day .With the trading range between 1.9640-1.9785.Good support is seen at 1.9620 levels and key resistance for the currency is seen at 1.9790 levels. Stochastic and Momentum are trending up giving cues for a upward correction but currency get a caution from moving averages below which it is trading.

RUPEE APPRECIATEDON THE BACK OF WEAK OIL-JUL 09.

Rupee strengthened against the U.S. dollar as banks scrambled to sell the greenback anticipating inflows from foreign funds and noting the sharp fall in global crude oil prices. However, dollar demand from importers may limit a sharp rise in the Indian unit.

TECH OUTLOOK:
Rupee is seen in the jaws of bear for the day. With the trading range of 43.02-43.20.With good support seen at 43.00 levels and key resistance for the currency is seen at 43.25.But chart pattern gives a caution signal as the currency has given a lower open forming a gap, so the test of day's resistance level cannot be ruled out. Currency is seen trading well below the fast moving averages and is seen resting on the lower Bollingers confirming the bear note.

Evening report-jul 08

Indian rupee declined against the greenback on expectations of more capital outflows. Rupee recouped most losses against U.S. dollar as banks liquidated long dollar positions noting persistent dollar sales from government-owned banks. U.S.dollar inched up supported by a drop in oil prices , but renewed credit worries limited its gains.Euro slipped lower against the dollar as markets mulled lower industrial production numbers out of Germany and Britain.U.S. dollar traded in a narrow range of 106.7-107.3 .British pound showed weakness against the US dollar as survey showed a serious risk of recession in the UK, with some results reaching record low levels in both manufacturing and service sectors.yen as a decline in stocks prompted investors to flee from carry trade activity

AUSSIE COOLS DOWNS-JUL 08.

Australian dollar declined against the U.S. currency as an industry report showed business confidence fell cooling domestic demand and rising raw-material costs .

TECH OUTLOOK
AUD chart pattern indicates the currency to be on downside for the day . With the trading range expected between 0.9510-0.9605 levels. Support for the currency is seen at 0.9500 levels and resistance is seen at 0.9620 levels for the day. Momentum and stochastic are signaling towards the possibility of bearish correction for the day.

EURO AND POUND ON A DOWNTREND

Greenback pared gains versus the Euro amid lingering worries about the credit crisis and the health of the financial sector .Pound fell against the dollar after a government report showed U.K. manufacturing contracted more than predicted , deepening concern that the economy will tip into a recession.

TECH OUTLOOK:

Euro chart pattern indicates the currency to have an downward correction for the day .Trading range for the day is expected to lie between 1.5650-1.5760 levels. Good support is seen at 1.5620 and key resistance for the currency is seen at 1.5780 levels. currency is seen trading below the moving averages giving bearish crossovers. Falling stochastic and momentum are confirming the downtrend for the day.

Pound is expected to be on a bear note for the day .Trading range is expected between 1.9660 -1.9830 levels for the day. support for the currency is seen at 1.9640 levels and resistance at 1.9850 levels for the day. currency is seen trading below the fast moving average .stochastic and momentum are trending down hinting downside movement.

INDIAN RUPEE CONTINUES ITS WEAKER NOTE.-JUL 08.

Indian rupee dropped as weaker Asian stock markets raised prospects for more foreign fund outflows, but the central bank is expected to curb any sharp fall

Tech Outlook:
Rupee is expected to be on a bull note for the day. With the trading range of 43.25-43.45.With good support seen at 43.18 levels and key resistance for the currency is seen at 43.50 levels. Currency is seen trading well above the fast moving averages and is expected to test the upper Bollingers.

EVENING REPORT-JUL 02.

Rupee closed at 43.16 on the back of gains in the local stock market raising hopes of some capital inflows but high oil prices continued to put downward pressure on the rupee curbing further gains. The dollar traded flat to a little stronger against most major currencies , reclaiming some of the ground it recently lost as markets await important U.S. economic figures on the eve of a key meeting of European Central Bank policymakers.Euro jumped to new multi-day highs against its most major counterparts on expectation that the European Central Bank will lift rates to strike a balance between slowing growth and rising inflation.Pound withdrew its bull run on the light of negative construction data.In economic news we have high mortgage rates, coupled with uncertainty about the outlook for the UK economy, which is reining in household expenditure.yen that largely showed choppy trading for the day as Japan's monetary base for June rose 0.4% on year
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Aussie soared on the back of retail sales-jul 02.

Australian dollar approached a 25-year high after retail sales rose at the fastest pace in six months, adding to speculation that the central bank will raise rates.

Tech Outlook
AUD is trading in the bull note . Trading range is expected between 0.9510-0.9630 levels. Support is seen at 0.9500 levels and resistance at 0.9640 levels for the day. Momentum remains in the uptrend hinting the bull rally to continue for the day.

Euro and pound on bull note ahead of Announcement-jul 02.

Greenback traded near a three-week low against the Euro before an industry report which is expected to show reduction in jobs by U.S. companies in June ,and on expectations that European Central Bank would bump up interest rates later this week.

Tech Outlook:

Euro is expected to be on mixed note for the day. Resistance is seen at 1.5880 levels. Support for the currency is seen at 1.5740 levels. Trading range is expected between 1.5745-1.5870 levels for the day .Stochastic lies in the overbought levels awaiting further clues from the market. Momentum lies in neutral territory .But currency is seen trading well above the fast moving averages

Pound is expected to be on mixed note for the day .Trading range for the currency is seen at 1.9890 -1.9980 levels for the day. support for the currency is seen at 1.9880 levels and resistance at 1.9995 levels for the day. Momentum indicates a bear note for the day. RSI remains silent on the issue but currency is seen trading well above the fast moving average .

Rupee strengthend -jul 02

The Rupee strengthened after the central bank aggressively raised a key interest rate, prompting exporters to sell dollars on expectations for a stronger currency.

tech outlook

Rupee is expected to trade mixed in the range of 43.20-43.45.With good support seen at 43.12 breach of it will see currency resting at 43.06.resistance for the currency is seen at 43.50.Chart pattern gives cues for the possibility of 50% Profit booking for previous bull run .Currency is seen trading well above the fast moving averages ,but overbought stochastic is giving a caution signal.