Proof enough of what I have been writing in the past couple of days.

USD/INR update 31-July-2007

Off the mark a little on USD /INR. Opened on 40.45. A sec later 40.49. Seems like it may remain below 40.50 for the day and may even see the likes of 40.38 pretty soon.

USD/JPY update 31-July-2007

Seems I have gone a just little off the mark. The yen since morning has been doing near the 118.90 to 119.05 mark only instead of the 118.95 to 119.35 levels that I had suggested earlier in the day. But hey, my prediction of the yen playing near the 119.00 mark is quite on target though. I'll give myself 9 out of 10 for the morning session. What say??

31 July 2007

The Yen should continue its volatility today also. While it has crossed the 119 mark again, there may be a very good chance of it moving below the mark during the day. The considerable weakening of USD against EUR and Cable may just brush off again its showing against the Yen. I believe the Yen may stay mostly in the 118.80 to 119.55 range, looking to drop below the 119 .00 mark (despite a now weakened Japanese government ) and exchanging hands mostly in the 118.95 to 119.35 region. There is a thin possibility of it nearing the 119.80 mark once or twice in the day but expect the Yen to mostly keep near (and possibly below too!!!! ) the 119 mark .

As regards the USD/INR pair, it should be opening near 40.52 range and struggling to stay over that level, mostly trading at the 40.48 to 40. 54 range and occasionally dropping below 40.45 and ending the day at around 40.40

Nice Day

So, I am bang on target. The markets opened at around 118.68, a minute later they were at 118.79 then immediately went around to test the 118.00 mark as I had suggested. The next move was upwards, again testing the 118.20 mark on the downward, and now hovering near the 118.30 to 118.40 mark. I believe that It should mostly show its game in this region, although a little birdie at the back of my head says the yen should pump a little more and settle near the 117.80 mark today. Lets see. Fingers crossed.

Tommorow 30th July 2007

With the markets down all over the globe and Yen on the upswing against USD, I believe the Yen to strenthen a little bit more over the next couple of days and specifically testing the 118.20 and 118.00 mark tommorow. Though It may open at around 118.85, I expect it to move a bit down, doing most business at the 118.40 to 118.55 range. As far as the possibility of weakening is concerned, I believe if that happens then the currency may get stuck between 119.20 to 119.35.

Keeping my fingers crossed.

My first Blog

Hi there. After having been a Forex Dealer with State Bank of India for a couple of years back home in India and then being asked to take the role which is a complete anti of the Fx dealer i.e. a Bank branch personnel in a foriegn centre(SBI Osaka, Japan) who, in addition to taking care of the interest of his customers had to advise customers abliet personally on forex movements especially when it concerned the USD/JPY pair as well as the USD/INR pair, I have come to believe that my personal advises have been hitting the mark more often. In order to continue the practice as well as to bring forth these predictions to a larger audience, and I must not forget this..... to test my grit and develop my strength to stand up and say sometimes that "Yes I was wrong in what I said and believed", I put forth my blog for all of you.

MY THANK LIST

I would like to thank My parents, my wife Shephali, (as also my two lovely little angels Priyansha and Prashansha), my organisation, my friends of the past and the present as well as My colleagues at SBI Foriegn Department Kolkata, that have helped me in honing my Fx and stand up and say I too can forecast. I also thank the almighty for the love he has showered on me, my family and my well wishers.

Amen

Pratyush Bakshi