Currency Weekly - 24-06-2013
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Currency Weekly - 24-06-2013 Document Transcript

  • 1. SHAH ADVISORY2013Weekly CurrencyNewsletter24-06-2013Vivek A. ShahW W W . S H A H A D V I S O R Y . C O M
  • 2. Monday, 24thJune 2013  - www.shahadvisory.comFollow us on Twitter - @equityadvisoryShah Advisory – Weekly Currency Newsletter +91 84600 32788  support@shahadvisory.comSave Trees. Do not Print. Read Disclaimer on our website2USDINR – SPOT – 59.26TREND / PERIOD DAILY WEEKLY MONTHLYDIRECTION UP UP UPTrend Change Level(Closing Basis)57.40 56.40 54.05Overall trend is positive. Last week we got very strong move in the pair and it touched life high levelsaround 59.90 and we exited our all the positions around 59.87 levels. Now we are expecting the pairto retrace a little to the levels around 58.75 - 58.60 – 58.45 in coming days. On the higher side, I willturn bullish on the pair if it sustains above 59.74.EURINR – SPOT – 78.2875TREND / PERIOD DAILY WEEKLY MONTHLYDIRECTION UP UP UPTrend Change Level(Closing Basis)76.15 74.60 69.80Overall trend is positive. Pair is trading near to the important support level of 78.15. We are expectinga bounce in the pair but advised to go long only if sustain above 78.75. If it sustains below 78.10, wemay see lower levels of around 77.80-77.35 in coming days.GBPINR – SPOT – 91.5445TREND / PERIOD DAILY WEEKLY MONTHLYDIRECTION UP UP UPTrend Change Level(Closing Basis)89.50 87.50 81Overall trend is positive. Pair is trading near to important support zone for short term trader’sperspective. We may see rise till 92.33 but buy only if sustain above this level. On the down side, ifsustain below 91.40, we may see lower levels of 90.90 – 90.40 in coming days. If it crosses above92.85, we are expecting it to touch 97 – 98 in coming sessions.JPYINR – SPOT – 60.6250TREND / PERIOD DAILY WEEKLY MONTHLYDIRECTION UP UP DOWNTrend Change Level(Closing Basis)59 57.30 65.50Overall trend is positive on daily to weekly charts and monthly trend is still down. We may see somebounce till 60.80 – 60.85. We will initiate longs only if it sustain above 61.40. Short term momentumlooks little weak and we may see levels of around 59.80. Below 60.40, the downside momentum mayget some pace and we may see levels of 59.80 – 58.80.
  • 3. Monday, 24thJune 2013  - www.shahadvisory.comFollow us on Twitter - @equityadvisoryShah Advisory – Weekly Currency Newsletter +91 84600 32788  support@shahadvisory.comSave Trees. Do not Print. Read Disclaimer on our website3EURUSD – 1.3115Overall trend has again turned down for the pair. We may see levels of around 1.3025 – 1.3030. Ifsustain below 1.3030, next lower level where the pair may get support is at 1.2950 where we aresuggesting short term traders to initiate long positions. Now only above 1.3250, positive momentumwill get start.YOU CAN ALSO VIEW THIS REPORT ON THE WEB-