Daily Market Reflection 25th May 2016 Market Outlook
For Intraday Superstar & Trifid Special
Indian currency continued its bearishness for the eight successive
Calls SUBSCRIBE to premium reports.
sessions and depreciated further against dollar on sustained demand of American currency from Banks and importers. Outflows of foreign
USDINR
funds on back of strict rules regarding P-notes and sluggish domestic indices adversely impacted the domestic unit. Emerging Asian currencies, from the Malaysian ringgit to the South Reference Rate
Korean won, weakened on Tuesday as falling oil prices and a drop on regional equity markets dampened demand for riskier units.
Currency
Date Date 23-05-16 24-05-16 67.3492 67.7060 75.6197 75.9323 97.7641 98.0654 61.3800 61.9700
Fundamental News
Rupee holds 2-1/2 month low at 67.49.
Sri Lankan rupee forwards trade weaker on importer dollar demand.
Fed rate view hurts Asia FX; rupiah hits 3-1/2-month low.
United Kingdom Public Sector Net Borrowing above
USDINR EURINR GBPINR JPYINR
Currencies vs $ Currency
forecasts (£6.2B) in April: Actual (£6.582B). Rupee Dollar Index Euro Pound Japanese Yen
Currency Future Currency
Date
Date
23-05-16
24-05-16
USDINR
67.5575
67.8325
+0.41%
EURINR
75.7725
75.8550
+0.11%
GBPINR
97.7525
99.0325
+1.31%
JPYINR
61.7825
61.8500
+0.11%
% Chg
Currency
Event
Forecast
Previous
GfK German Consumer Climate German Ifo Business Climate German 30-y Bond Auction
9.7
9.7
106.9
106.6
-
1.03|1.6
EUR
ECOFIN Meetings
-
-
6:00pm
USD
Goods Trade Balance
-60.1B
-56.9B
7:15pm
USD
Flash Services PMI
53.1
52.8
11:30am
EUR
1:30pm
EUR
Tentative
EUR
All Day
Close (5:00pm) 67.6200 95.4000 1.1181 1.4584 109.58
Prev Close 67.4950 95.2600 1.1207 1.4485 109.39
% Chg +0.18% +0.14% -0.23% +0.68% +0.17%
Global Commodities
Event Calendar (25th May 2016) Time
% Change +0.52% +0.41% +0.30% +0.96%
Commodity Gold Silver Crude Copper
Close 1242.67 16.26 47.89 2.0618
Prev.Close 1245.33 16.28 47.89 2.0445
% Chg -0.21% -0.12% 0 +0.84%
Our Previous calls update Intraday super star Date Currency Entry Exit P/L 24/05 USDINR 67.5900 67.8500 5200 Trifid special Date Currency Entry Exit P/L 10/05 GBPINR 96.5700 97.0700 20000 For our next calls click here……..
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Overview USDINR
EURINR
USDINR opened on a strong note and was able to sustain on
EURINR traded on strong note after a gap up opening but
higher side for the rest of the session and finally extended its
dragged in the later half and washed off the early gains but
bull rally so seen in last six consecutive sessions.
was able to close in green.
On daily charts, it may further inch towards the crucial mark of 68.0000-68.1000 while 67.5000 may act as good support.
It needs to sustain above 76.0000 to gain strength while
R1 67.9000
R1
R2
S1
S2
76.0000
76.2000
75.7000
75.5000
R2 68.1000
S1 67.5000
S2 67.3000
surpassing immediate support of 75.7000 can be weak signal.
GBPINR
JPYINR
GBPINR extended the bulls after the silent trading in last
JPYINR witnessed buying momentum which was seen in
two sessions and closed higher.
the previous session and closed strong.
It tested 99.0000 mark and now 99.6000 is seen as near term
On daily charts, 61.6000 is seen as immediate support while strong bulls can now be seen if the counter holds above 62.1000.
strict resistance for the counter and short pull backs are expected from support levels. R1 99.2000
R2 99.4000
S1 98.7000
S2 98.5000
R1 62.0000
R2 62.2000
S1 61.7000
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S2 61.5000
Intraday Super Star (Premium Section)
Currency was able to sustain at higher levels in the previous session and the bulls are expected from support levels in the counter. Buying is also recommended from the upper consolidation so seen on intraday charts. **** TARGETS *****/****** SL *****. For complete call, subscribe our premium report.
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Trifid Special (Premium Section)
Currency is taking constant support at lower levels and intends to move northwards from such bottom levels. If it is able to sustain above the trend line then it may show a short bull rally in coming sessions. *****TARGET ****** SL ******. For complete call, subscribe our premium report.
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