Forex Trading Strategy for the week 18th July – 22nd July

USDINR Trend- Sideways	USDINR July MCX/NSE: Buy at 44.40-44.45 targeting 44.90 with stoploss below 44.10
EURINR Trend Bearish	URINR July MCX/NSE: Sell on a pullback to 63.00-63.10 targeting 62.10 with stoploss above 63.50
GBPINR Trend Bearish	GBPINR July: Sell at 72.20 -72.35 targeting 71.40 with stoploss above 72.65
JPYINR Trend Bullish	JPYINR July: Buy at 55.70-55.80 targeting 56.60 with stoploss below 55.40

Critical Events to watch this week

Date          Time  Area                Event For                               Survey   Prior

07/18/2011 18:30 United States Net Long-term TIC Flows MAY $40.0B $30.6B

07/19/2011 14:30 Germany Zew Survey (Current Situation) JUL 85 87.6

07/19/2011 14:30 Euro zone ZEW Survey (Econ. Sentiment) JUL - - -5.9

07/19/2011 14:30 Germany ZEW Survey (Econ. Sentiment) JUL -12.5 -9

07/19/2011 18:00 United States Housing Starts JUN 575K 560K

07/19/2011 18:00 United States Housing Starts MOM% JUN 2.70% - -

07/19/2011 18:00 United States Building Permits JUN 597K 612K

07/19/2011 18:00 United States Building Permits MOM% JUN -2.00% 8.70%

07/20/2011 11:30 Germany Producer Prices (YoY) JUN 5.50% 6.10%

07/20/2011 14:00 United Kingdom Bank of England Minutes

07/20/2011 19:30 Euro zone Euro-Zone Consumer Confidence JUL A -10.2 -9.8

07/20/2011 19:30 United States Existing Home Sales JUN 4.95M 4.81M

07/20/2011 19:30 United States Existing Home Sales MoM JUN 2.90% -3.80%

07/21/2011 04:31 United Kingdom Nationwide Consumer Confidence JUN 49 55

07/21/2011 05:20 Japan Merchnds Trade Balance Total JUN -¥149.0B -¥853.7B

07/21/2011 13:00 Germany PMI Manufacturing JUL A 54.1 54.6

07/21/2011 13:00 Germany PMI Services JUL A 56.1 56.7

07/21/2011 13:30 Euro zone PMI Composite JUL A 52.6 53.3

07/21/2011 13:30 Euro zone PMI Manufacturing JUL A 51.5 52

07/21/2011 13:30 Euro zone PMI Services JUL A 53.2 53.7

07/21/2011 14:00 United Kingdom Public Finances (PSNCR) JUN 17.0B 11.1B

07/21/2011 14:00 United Kingdom Retail Sales Ex Auto Fuel(YoY) JUN 0.20% 0.00%

07/21/2011 19:30 United States Leading Indicators JUN 0.20% 0.80%