This document provides a daily forex report from Epic Research dated May 28th, 2013. It includes headlines on currency movements, trading tips and analysis on USD/INR and EUR/INR currency pairs. Key points covered are the yen strengthening against the dollar, yuan reaching a new peak against the dollar for the 7th time in May, and the rupee edging higher against the dollar. Charts and analysis are provided showing bullish trends for USD/INR and recommending buying on dips. Upcoming French manufacturing PMI data is also noted.
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HEADLINES
Yen stays near 2-1/2 week high against dollar
The dollar was down 0.4 percent at 100.84 yen, near
Friday's trough around 100.66 yen, its lowest since
May 10.
Yuan closes near record high after setting new
peak for 7th time in May
China's Yuan closed near a record high against the
dollar on Monday after hitting a new peak for the
seventh time this month as the central bank set the
midpoint at its strongest level.
Rupee inches up as shares gain; month-end
dollar demand hurts
The rupee edged higher to 55.57/58 versus its close
of 55.63/64 on Friday, tracking gains in the share
market
RBI REFERENCE RATE
As on 27 th MAY 2013
UNDERLYING RATE
USDINR 55.6158
EURINR 71.9580
GBPINR 84.1806
JPYINR 55.1000
TRADING TIPS
SELL EURO /INR
BELOW 72 for
TGTS of
71.88/71.70
TRADING TIPS
SELL USD/INR
BELOW 55.80
for TGTS of
55.68 /55.54
2 nd tgt achieve
5. DAILY EUR/INR CHART
http://www.icharts.in/getImageFromSessionLive.php?img=chart1&id=ssrrjd8n1kmkm0cg5ulvc9tmp3518b82703dba5&
ANALYSIS
OPEN 71.3800 HIGH 72.0900 LOW 71.3800 CLOSE 72.0000
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6. FOREX FORTHCOMING DATA
TIME CURRENCY DATA ACTUAL FORECAST PREVIOUS
11:30am EURINR French Manufacturing
PMI
44.44
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