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Currency – 1st March 2011

DOLLAR INDEX (DXH1)
Fresh sell signals to bearish trend. FOR THE DAY go SHORT near and at a strict SL of 77.435 for a target to breach 76.780. Likely to achieve its predicted target of 76.526 to achieve today or during next few trading sessions.
EURO (6EH1)
Trend still bullish. No sign of correction yet. FOR THE DAY go LONG near and at a strict SL of 1.3710 for a target to breach 1.3854. If breaches 1.3856 with good volumes next achievable target stands at 1.3962.
POUND (6BH1)
Signs of reversal to bearish trend. FOR THE DAY go LONG near and at a strict SL of 1.6071 for a target to breach 1.6276. Will remain strong as long as above 1.6225.  1.6216 can be a good point to enter the rally. Likely to achieve 1.6346 today or during next trading sessions.
AUSTRALIAN DOLLAR (6AH1)
Trend still bullish. No sign of correction yet. FOR THE DAY go LONG near and at a strict SL of 1.0103 for a target to breach 1.0176. It still has a target of 1.0213 to achieve.
USD INR (H1-MCX)
Fresh sell signals to bearish trend. FOR THE DAY go SHORT near and at a strict SL of 45.565 for a target to breach 45.4075. If breaches 45.295 today or during next trading session, which is very much possible, next immediate achievable target will stand at 45.1825. However its long term target stands at 44.6750.

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