Forex money maker tips

Daily Market Reflection 10th May 2016 USDINR

Market Outlook Rupee appreciated against the greenback on Monday in the early trade despite of mixed trading in Asian currency markets. Payrolls data so released on Friday by US was less than expected and it reduced the hopes for Fed rate hike in June. Asian currencies such as won, rupiah and yuan declined, while ringgit advanced in morning trade.

China came up with their weak trade data of April as its exports registered a modest increase in April after surging the most in a year in March, signaling that overseas demand continues for products from the world’s largest exporter.

Fundamental News      

Date

06-05-16

09-05-16

USDINR

66.8100

66.7925

-0.03

EURINR

76.3550

76.0650

-0.38

GBPINR

96.8925

96.4975

-0.41

JPYINR

62.4400

61.7300

-1.14

Currency Rupee Dollar Index Euro Pound Japnese Yen

% Chg

11:30am

Currency

Event

EUR

German Trade Balance

EUR

2:00pm

GBP

French Industrial Production m/m FOMC Member Dudley Speaks Goods Trade Balance

7:30pm

USD

JOLTS Job Openings

USD

Mortgage Delinquencies

12:15pm 12:45pm

10th-12th

USD

Forecast

% Change -0.21% -0.16% -0.59% -0.64%

Close (5:00pm) 66.4800 93.9480 1.1386 1.4462 108.06

Prev Close 66.5550 93.8880 1.1402 1.4430 107.32

% Chg -0.11% 0.06% -0.14% 0.22% 0.68%

Global Commodities

Event Calendar (10th May 2016) Time

Date Date 06-05-16 09-05-16 66.5830 66.4379 75.9313 75.8056 96.3456 95.7702 62.1300 61.7300 Currencies vs $

Currency Future Date

Currency USDINR EURINR GBPINR JPYINR

Yen hits 10-day low on intervention warning.

Won leads Asia FX losses on expectations of Korean rate cut.

Dollar firmer vs yen, Aussie unfazed by weak China trade data.

UK Annual house price growth eases to 9.2%.

Swiss Consumer prices increase by 0.3% in April 2016.

Japan consumer confidence index April 40.8 vs 40.7 exp.

Currency

Reference Rate

Previous

20.4B

19.8B

0.6%

-1.0%

-

-

-11.2B

-12.0B

5.55M

5.45M

-

4.77%

Commodity Gold Silver Crude Copper

Close 1274.20 17.30 45.55 2.1068

Prev.Close 1289.01 17.38 45.40 2.1105

% Chg -1.14% -0.46% 0.33% -0.17%

Our Previous calls update Intraday super star Date Currency Entry 09/05 JPYINR Trifid special

Exit -

P/L -

Date Currency Entry Exit P/L 09/05 GBPINR 96.5000 96.0000 20000 For our next calls click here……..

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Overview USDINR

EURINR

USDINR traded on lower levels for most part of the session but gained momentum in the last trading hour to close on flat note.

EURINR opened the session on lower note and sustained at lower levels for the entire session closing it on weak note.

The pair has been strictly found in tight range since many sessions where 67.0000 is resisting it while 66.5000 has been acting as good support.

R1 67.0000

R2 67.2000

S1 67.6000

S2 67.5000

On daily charts, 75.9000 has acted as strong support for the counter while lower lows suggests a short pull back if it sustains above 76.0000 mark. On lower side, 76.5000 is seen as major support from current levels.

R1

R2

S1

S2

76.2000

76.4000

75.9000

75.7000

GBPINR

JPYINR

GBPINR opened on weak note but covered some losses during the session and recovery let it to close on less weakened note.

JPYINR lost its shine which it gained in past few sessions and closed weak losing more than 1%.

If it falls below 96.2000 during the coming session then weak sentiments can again drag it below 96.0000 mark while 96.6000-97.0000 is seen as resistance range.

On daily charts, it closed below the strong and crucial support of 61.8400 which is indicated as a weak sign for the pair as sustaining below this level can drag it towards near support of 61.3000 while immediate resistance is 62.0000.

R1 96.7000

R1 61.9000

R2 96.9000

S1 96.3000

S2 96.1000

R2 62.3000

S1 61.6000

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S2 61.4000

Intraday Super Star (Premium Section)

JPYINR closed below the strong support of 61.8400 on daily charts which is indicating as a weak sign for the counter and so more sell offs can be seen if it sustains below this key support.

SELL BELOW 61.6500 TARGETS 61.5300/61.4000 SL 61.8500.

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Trifid Special (Premium Section)

GBPINR closed higher as compared to its weak opening which recommends that buying on dips can be seen in the counter. Hence, buying momentum can be seen in it in coming few sessions.

BUY ABOVE 96.5700 TARGET 97.0700 SL 95.9000.

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