Day forex market news

Daily Market Reflection 28st April 2016 USDINR

Market Outlook Rupee after the previous day gains stood strong in the beginning of the session and traded silently on lower levels. FOMC Committee which is coming with its monetary policy is expected to keep its benchmark lending rates unchanged though the sentiments may get affected as they will release their statements.

Key event which was awaited was UK Q1 GDP which came as per expectations at 0.4% vs previous 0.6%. Yearly reading stands at 2.1% against 2.0% expected. Hence, Britain ext still remains the important point for the pound traders.

Fundamental News     

Currency Rupee Dollar Index Euro Pound Japnese Yen

Date

Date

26-04-16

27-04-16

USDINR

66.9300

66.8375

-0.14%

EURINR

75.5125

75.6000

0.12%

GBPINR

97.3550

97.5475

0.20%

JPYINR

60.2650

60.0150

-0.41%

% Chg

Event

Forecast

Previous

Tentative

JPY

Monetary Policy Statement

-

-

10:30am

JPY

BOJ Outlook Report

-

-

All day

EUR

German Prelim CPI m/m

-0.2%

0.8%

12:30pm

EUR

Spanish Flash CPI y/y

-0.7%

-0.8%

6:00pm

USD

Advance GDP q/q

0.7%

1.4%

USD

Unemployment Claims

258K

247K

6:00pm

Date 27-04-16 66.5460 75.1770 96.9242 59.8500

% Change -0.28% -0.01% 0.15% -0.61%

Close (5:00pm) 66.5237 94.57 1.1316 1.4606 111.27

Prev Close 66.4625 94.38 1.1307 1.4586 111.06

% Chg 0.09% 0.20% 0.07% 0.13% 0.18%

Global Commodities

Event Calendar (28th April 2016) Currency

Date 26-04-16 66.7330 75.1814 96.7695 60.2200

Currencies vs $

Currency Future

Time

Currency USDINR EURINR GBPINR JPYINR

Asia FX trapped as Fed, BOJ caution grows; won rises.

Aussie plunges, Fed eyed for dollar direction.

Won, ringgit, Singapore dollar up; yuan dips.

Australia dollar sinks on inflation blow, NZ dollar hit by trade deficit.

UK Q1 prelim GDP meets expectations, Brexit remains focal point.

Currency

Reference Rate

Commodity Gold Silver Crude Copper

Close 1245.90 17.30 44.93 2.2161

Prev.Close 1243.72 17.25 44.46 2.2190

% Chg 0.17% 0.28% 1.05% -0.13%

Our Previous calls update Intraday super star Date Currency Entry Exit P/L 26/04 GBPINR 97.0000 96.9375 -1250 Trifid special Date Currency Entry Exit P/L 26/04 JPYINR 59.8500 59.5500 12000 For our next calls click here……..

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Overview USDINR

EURINR

USDINR sustained at lower levels for the second consecutive session and closed in negative zone.

EURINR after finding support of trend line in the previous session as shown above moved in the same consolidated range and closed flat with slight positive bias.

It strictly resisted at the trend line so coming from deeper supports on daily chart in the previous session and so it may further drop towards the support of 66.5500 while resistance is seen near 67.2500.

R1 67.0000

R2 67.1500

S1 66.7000

S2 66.5000

Now, immediate resistance is shown around 75.8000 above which buying momentum can be seen while support is marked around 75.2500 R1

R2

S1

S2

75.7000

75.9000

75.4000

75.2000

GBPINR

JPYINR

GBPINR continued the bull rally since last few consecutive sessions on back of strong pound against greenback.

JPYINR was the most worst performing pair for the intraday session and closed with loss of approx 0.40%.

On daily charts, it has been moving in downward channel pattern and the pattern will find its significance above the resistance of 97.7500 while major support is seen near 96.7500.

On daily charts, it broke the support which it found at the trend line so coming from deeper support levels and so next crucial support is seen near 59.7000 and resistance near 60.3000.

R1 97.7000

R1 60.1000

R2 97.90000

S1 97.3000

S2 97.1000

R2 60.3000

S1 59.8000

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S2 59.6000

Intraday Super Star (Premium Section)

EURINR consolidated around the support levels on intraday charts whereas hovered around the same range as of previous session on daily charts. Hence, sell offs can be seen if it sustains below the given level.

SELL BELOW 75.5100 TARGETS 75.3900/75.2500 SL 75.7100.

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Trifid Special (Premium Section)

USDINR reversed exactly from the trend line so shown in the daily chart above and dragged for the second consecutive session.

Therefore, selling pressure is expected to continue towards the near supports.

SELL BELOW 66.7900 TARGET 66.5500 SL 67.0100.

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