Tuesday, July 19, 2011

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%

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