USDJPY SHORT TERM STRATEGY (HIGH RISK)

High risk traders can go short on USDJPY between 101.80 - 102.20 for a near term target of 98.50 & short term targets of 97.00 - 95.50 with a protective stop loss above 105.75.

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. 

EURUSD Medium Term Outlook

EURUSD is currently in a bullish phase but 1.3490 can act as a near term resistance. A weekly closing above this level can push it further upto 1.3830. On the downside 1.3000 can act as a good near term support & 1.2720 a good medium term support. The expected range in the medium term would be 1.2720 – 1.3830 & a break of this range will decide the future course of the pair. 

USD/INR INTRADAY RECOMMENDATION (12/10/2012)

USD/INR (SPOT)

USD/INR can give a dip even upto 52.65 as India's IIP for August is above expectation (CMP – 52.74) but buying on dips is recommended for intraday trading. It has a good intraday support at 52.48 & resistance is at 53.00. Expected intraday range is 52.65-52.98.

STRATEGY – BUY AT 52.65   TARGET 52.98   SL BELOW  52.48

EURUSD Short Term View - An update

Target achieved in EURUSD Short Term View published on 24th March, 2012 (http://goo.gl/v8zdd). EURUSD did not breach 1.4420 and made a high of just 1.3385 after I published the call. My target range was 1.3020-1.3050 and it is currently trading below 1.3050. If traded according to my view one can book all profits. It has a good support in the range of 1.2970-1.2990, it will continue its bearish view only if it gives a weekly close below 1.2970 or else it can bounce back upto 1.3400. If it gives a weekly close below 1.2970 it can fall upto 1.2800.    

EURUSD Short Term View

EURUSD has the potential to rise upto 1.3350-60 but can be sold on rise. It has a good resistance at 1.4420, a weekly closing above this level can change short term view or else it can come in the range of 1.3020-50. The overall long term bullish view published on 1^st January, 2012 (http://goo.gl/s5XJR) remains intact. I had expected a recovery from March 2012, but it gave a good bounce in Jan-Feb 2012 and now in the short term we can see a dip. Thus, from the short term point of view we can sell EURUSD on rise and if you are a long term investor you can wait for a good dip in price to go long on the counter.