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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