Forex News for 21-11-2012

Dollar is Strongly strengthening 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 . Cautious point is buying at higer levels seems decreasing. 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 54.74-54.71-54.47-54.39-53.92-53.86-53.38-. Immediate resistance for USDINR is 55.59
In long term Dollar is relatively strengthening against Euro- Pound-

Short term and Intraday Level of Dollar with Rupee

Currently USDINR is in HOLD LONG position USDINR is in sideways so for short term better buy above 55.374 or hold with stop at 54.81 The next resistance will be at 55.37 Yesterday the up movement was with volume this also confirm an up break out 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- Buy above 55.374 and keep stop below 54.907 Target is 55.498 next 55.703 Below 54.783 trend reversal can occur and next level is 54.579

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