Forex News for 07-11-2012

Trend updated for-Nov/07/2012.CMP-54.715 The Dollar is weakening against Indian Rupee .Currently Dollar is in strong uptrend 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 The current position is BUY .Positionally Support for USDINR is 54.46-53.97-53.93-53.63-53.23-53.17-.Resistance for the USDINR is 55.23-
In medium term Dollar is relatively strengthening against Euro- In long term Dollar is relatively strengthening against Yen- Euro- Pound-

Short term and Intraday Level of Dollar with Rupee

Currently USDINR is in HOLD LONG position USDINR is in sideways but the trend looks weak so better buy above 55.02 or hold with stop at 53.83 Yesterday the selling was with volume so risk takers can go for shorting at current rate with stop at 55.02 The oscillator is showing BUY signal 

Intraday Trend- Sell if open below 54.497 with stop loss at 54.933 or sell below 54.388 Buy is not advised till it cross 55.042

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