Rupee maintains its bearish bias till USD/INR stays above 48.50 (downward trendline) on a closing basis.It is headed towards 49.05 and then 49.50. Risk aversion still maintains across the globe. Bearish.(USD/INR : 48.70)

Euro maintains bearishness till it closes below the short term trendline of 1.41 on a closing basis.Look for a break of 1.38 soon to target 1.3450. Bearish (Eur/Usd:1.3975)

Sterling took a major correction upwards till 1.6380 levels in the US Session yesterday due to BOE comments of maintaining QE. Sterling stays bearish till it maintains a closing below 1.6400 levels. Maintain Shorts for target of 1.60 and lower.(Gbp/Usd: 1.6316) Bearish

Yen reached our TARGET of 92. Despite a bout of fresh dollar weakness across the majors like Euro and Pound , Yen maintained its strength across the dollar SHOWING SIGNS OF RISK AVERSION . Target 90 and lower. (USD/JPY : 92.89 ) Bullish

Aud remains bearish still due to sell of in gold and other commodities . Refer charts sent couple of days back .Target 0.7500 Bearish (Aud/Usd: 0.7822)

Gold almost reached our TARGET OF 900 dollars and we maintain the strategy of bearishness.Still bearish.(Gold- $913.40). Bearish

Dollar index extends the rebound from 79.56 and is set to take on 80.94. We're anticipating a break of 80.94 resistance to signal resumption of rise from 78.33, to be confirmed by break of 81.36/47 resistance zone. Further rally should be seen to next key resistance at 82.62 (38.2% retracement of 89.62 to 78.93 at 82.64). in such case. (DI- 80.30) Bullish

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DISCLAIMER

These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsible for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.

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