FOREX TRADING VIEWS

USDINR

THOUGH RUPEE IS APPRECIATING TODAY ONE CAN GO LONG FOR TRADING IN USDINR ON DIPS.

STRATEGY 

BUY USDINR PART AT 68.05 & PART AT 67.98  TARGET 68.30  SL BELOW  67.85

EURUSD STRATEGY

SELL EURUSD PART AT 1.1100 & PART AT 1.1130 TARGET  1.1040  SL  ABOVE  1.1156

GBPUSD STRATEGY

SELL GBPUSD PART AT 1.4590 & PART AT 1.4620 TARGET 1.4530  SL  ABOVE  1.4650

USDJPY STRATEGY

BUY USDJPY PART AT 117.85 & PART AT 117.65   TARGET 118.50  SL BELOW 117.34

EURUSD & GBPUSD CALL UPDATES

OUR BUYING AVERAGE IN EURUSD IS 1.0597 WE CAN BOOK PROFIT IF WE GET 1.0640 & OUR SL TRIGGERED IN GBPUSD BUY CALL AT 1.5030.

CALLS GIVEN WERE;

BUY EURUSD PART AT CMP (1.0610) & PART AT 1.0585 FOR TARGETS 1.0670 & 1.0690    SL BELOW 1.0540. 

(http://forexviewsncalls.blogspot.in/2015/11/eurusd-trading-strategy.html)

BUY GBPUSD PART AT CMP (1.5084) & PART AT 1.5060 TARGETS  1.5130 & 1.5150      SL  BELOW 1.5030. 

(http://forexviewsncalls.blogspot.in/2015/11/gbpusd-trading-strategy.html)

GBPUSD TRADING STRATEGY

BUY GBPUSD PART AT CMP (1.5084) & PART AT 1.5060   TARGETS  1.5130 & 1.5150      SL  BELOW 1.5030

GBPUSD Medium Term Outlook

GBPUSD has a good medium term resistance in the range of 1.5790 - 1.5820 and thus can be sold on rise. In fact selling part at 1.5750 & part at 1.5820 is recommended for a short term target of 1.4900 & medium term target of 1.4600 with a protective SL above 1.6400.

Intraday Trading Strategies

EURUSD can rise upto 1.2880-90 but can be sold on rise for intraday trading for a target of 1.2790 & SL above 1.2940. Expected intraday range is 1.2790 - 1.2890.

GBPUSD can rise upto 1.5265 but can be sold on rise for intraday trading for a target of 1.5180 & SL above 1.5310. Expected intraday range is 1.5180 - 1.5265.

USDJPY can dip upto 92.50 but can be bought on dips for intraday trading for a target of 93.50 & SL below 92.00. Expected intraday range is 92.50 – 93.50.

Intraday Trading Strategies

EURUSD is moving upwards & can rise upto 1.3515 but shall resist that level during the day & thus can be sold on rise strictly for intraday trading purpose for a target of 1.3430-20 with a protective Stop loss (SL) above 1.3560.

(Note: For medium term outlook please visit http://www.forexviewsncalls.blogspot.in/2013/01/eurusd-medium-term-outlook.html)  

GBPUSD may give a dip upto 1.5710 thus traders can sell on rise in the morning trade (IST) but it can be bought on dips upto 1.5710 for the day for a target of 1.5800 with a protective SL below 1.5660.

USDJPY can give a rise even upto 91.15 but can be sold on rise for intraday trading for a target of 90.40 with a protective SL above 91.55. 

GBPUSD's Weekly View's Update

In the beginning of the week GBPUSD made a low of just 1.5465 (my expectation was buying on dip upto 1.5425-1.5450, visit http://goo.gl/OT4x2 for details), but it did bounced-back as expected and made a high of 1.5670. My view was right but the call was not initiated.

GBPUSD Weekly (02/01/2012 – 06/01/2012)

GBPUSD can dip upto 1.5450-1.5425 in the beginning of the week, but it can be bought on dips for the week. Expected weekly range is 1.5400-1.5620. Major support for this month is at 1.5268 and resistance at 1.5830.