Forex News for 29-10-2012

Dollar is weakening against Indian Rupee .Currently Dollar is in strong uptrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend .. The USDINR is now trading in oversold level. The USDINR is now trading in oversold level. The oscillator is showing BUY signal For short term Dollar is in HOLD LONG position.Positionally Support for USDINR is 53.19-53.09-52.99-52.84-.Resistance for the USDINR is 54.58-55.02-55.33-

Short term and Intraday Level of Dollar with Rupee

Currently USDINR is in HOLD LONG position USDINR is moving sideways so short term investor better to buy only if close above 54.1 with stop at 52.8625 on closing The USDINR is now trading is approaching overbought level. The USDINR is now trading is approaching overbought level. The oscillator is on SELL signal and USDINR is coming down from overbought level

Intraday Trend- Sell if open below 53.425 or sell below 53.282 with stop loss at 53.926 Buy if open above 53.926 or buy above 54.069 with stop loss at 53.425


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