Rupee under pressure

In last five weeks rupee appreciated by 5.90% on account of huge FII inflows and technical breakout. Now again rupee is under pressure but paused at a very important technical support at 44.19. If you refer the enclosed chart you'll be able to figure out that weekly close below this crucial support, will drag rupee to the lower levels around 42.20. This sudden rupee appreciation will not be healthy for exporters but definitely will be a good exit opportunity for exporter who are sitting short at a very lower levels.

Reference Link: Rupee Appreciation


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Pound feeling little shy

Pound feeling little shy of immediate resistance level of 1.6025 break above this level (daily close) or if you refer 4 hourly chart close above 1.6030 (i.e. above trend line resistance level)will take it to 1.6300

So be ready to buy on break out for a 250 pips profit.




Previous 2000 pips GBP Trade Recommendation:
Going Long
Taking Profit


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Sliding Dollar

As predicted Dollar Index is going down, currently at 77.14 and soon will test its channel support around 76.30 levels.

Reference Link: Bad performance by the Dollar during last week


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Euro will test its next resistance

As predicted euro is going higher to test its next resistance at 1.4127. Try to buy euro on any dip or even at current levels for a profit target around 1.41+ levels.

Reference Link: Two Immediate Resistance

Reference Link: Euro Trade Take Profit

Reference Link: Euro Ready For a Blast


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Two Immediate Resistance levels for Euro

1.3844 and 1.4127 are next two important resistance levels for euro, kindly refer the enclosed chart.





Reference Link: Euro will test its next resistance


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HDFC Bank increased key lending rate by 25 basis points

HDFC Bank has followed RBI tightening policy (to absorb the excess liquidity in the market) and has announced increase in key lending rate by 25 basis points effective Tuesday, after this increase key lending rate or the base rate will be 7.50 percent. Also Bank has raised interest rates on some deposits by up to 50 basis points effective 24th September.



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Feedback - Forex Workshop

Just sharing feedback from two participants of last workshop held in Delhi, both of them were from Bathinda, Punjab (Mr. Brijmohan and Mr. Krishan Goyal). They have found this workshop very useful because after attending this they have gained so much confidence in attempting their trade views which was not there earlier. According to them their analytical ability on fundamental as well as technicals must have increased at least 10 times of what it was.
They got reference from their friends who have earlier attended the workshop in Delhi and even they want to share this wonderful experience with their near and dear ones so that they can also derive maximum benefit.



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Dollar Index on Weekly Chart

If you see the incomplete formation on weekly charts which looks like Inverse Head & Shoulders. If that formation completes then Dollar Index after touching 76.70 may bounce back and we might see huge upside move in Dollar Index (100+ levels), but prerequisite for this view is completion of Inverse Head & Shoulders formation. Please refer the weekly chart.





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