Forex Technical Outlook : 11.08.2016
USDINR TECHNICAL OUTLOOK
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Above is the Daily Chart of USDINR, the pair after opening at 67.05 and made a low of 67.04 and trading side wise a day before the pair saw some buying from the lower levels, but the pair maintained the levels of 66.90 and had formed a bullish candle few days now we are near the support s of that ,but the pair is not able to sustain the higher levels and violated the crucial supports but trading range of 66.90-67.20 if violate the n head lower
Fundamental Overview
US dollar index is trading at 95.59, mostly unchanged for lack of any major events that were scheduled yesterday. August is a usually a dull month for markets historically. There is no major economic data to be reported today and expect the lackluster movement to continue for the day.
EUR/USD TECHNICAL OUTLOOK
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EUR/USD. Pair after opening at 1.1087 made a high of 1.105, and was trading with a neutral bias, during the day ,but the pair has violated the recent range and any rise close to its 50DMA at 1.1133 is likely to find resistance and strong resistance near 200DMA at 1.1152 as few days it broke out of the range so intraday any rise is a shorting opportunity
Fundamental Overview
Euro is trading at 1.1176, remaining in a tight range between 1.11 and 1.12. Volatility in today’s trade is likely to remain low for lack of any major economic data. Expect this trend to continue into the weekend with equity market performance being the major market mover for the shared currency
GBP/USD TECHNICAL OUTLOOK
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GBP/USD. Pair after opening at 1.3040 made a low of 1.2954 , and saw some selling pressure from higher levels the pair is respecting the levels of 1.3150 as a resistance and 20DMA at 13420 and strong supply was coming at 1.3200 now any rise is a shorting opportunity in the pair
Fundamental Overview
Pound is trading at 1.3011, retreating from the highs near 1.31 that were seen yesterday. There was no major data that was reported yesterday but some short covering in the Asian session led to the intraday peak. Pound is likely to oscillate between 1.30-1.31and it is better to play this range for today.
USD/JPY TECHNICAL OUTLOOK
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USD/JPY. Pair after opening at 102.39and made a high of 102.52 and was seen strong buying pressure, the pair had bottom out and made a low of 98.98 and from there the pair had reversed and now trading near its 08Dma 102.35 if the pair able to close decisively above the said levels can head higher and now its taking a resistance on downward sloping trend line, and has violated the supports of 102 so any intraday sell on rise
Fundamental Overview
Yen is trading at 101.30, with very limited change from yesterday’s session. Weakness in the equity markets in the European and US session led to some buying of safe haven Yen. Japanese markets are closed today and the range bound trade is likely to continue for the day.
USDINR TECHNICAL OUTLOOK
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Above is the Daily Chart of USDINR, the pair after opening at 67.05 and made a low of 67.04 and trading side wise a day before the pair saw some buying from the lower levels, but the pair maintained the levels of 66.90 and had formed a bullish candle few days now we are near the support s of that ,but the pair is not able to sustain the higher levels and violated the crucial supports but trading range of 66.90-67.20 if violate the n head lower
Fundamental Overview
US dollar index is trading at 95.59, mostly unchanged for lack of any major events that were scheduled yesterday. August is a usually a dull month for markets historically. There is no major economic data to be reported today and expect the lackluster movement to continue for the day.
EUR/USD TECHNICAL OUTLOOK
Click Here & Register To Get 2 days Trial Tips
Free Currency Tips : Join Our Whatsapp No : 9841986753
EUR/USD. Pair after opening at 1.1087 made a high of 1.105, and was trading with a neutral bias, during the day ,but the pair has violated the recent range and any rise close to its 50DMA at 1.1133 is likely to find resistance and strong resistance near 200DMA at 1.1152 as few days it broke out of the range so intraday any rise is a shorting opportunity
Fundamental Overview
Euro is trading at 1.1176, remaining in a tight range between 1.11 and 1.12. Volatility in today’s trade is likely to remain low for lack of any major economic data. Expect this trend to continue into the weekend with equity market performance being the major market mover for the shared currency
GBP/USD TECHNICAL OUTLOOK
Click Here & Register To Get 2 days Trial Tips
Free Currency Tips : Join Our Whatsapp No : 9841986753
GBP/USD. Pair after opening at 1.3040 made a low of 1.2954 , and saw some selling pressure from higher levels the pair is respecting the levels of 1.3150 as a resistance and 20DMA at 13420 and strong supply was coming at 1.3200 now any rise is a shorting opportunity in the pair
Fundamental Overview
Pound is trading at 1.3011, retreating from the highs near 1.31 that were seen yesterday. There was no major data that was reported yesterday but some short covering in the Asian session led to the intraday peak. Pound is likely to oscillate between 1.30-1.31and it is better to play this range for today.
USD/JPY TECHNICAL OUTLOOK
Click Here & Register To Get 2 days Trial Tips
Free Currency Tips : Join Our Whatsapp No : 9841986753
USD/JPY. Pair after opening at 102.39and made a high of 102.52 and was seen strong buying pressure, the pair had bottom out and made a low of 98.98 and from there the pair had reversed and now trading near its 08Dma 102.35 if the pair able to close decisively above the said levels can head higher and now its taking a resistance on downward sloping trend line, and has violated the supports of 102 so any intraday sell on rise
Fundamental Overview
Yen is trading at 101.30, with very limited change from yesterday’s session. Weakness in the equity markets in the European and US session led to some buying of safe haven Yen. Japanese markets are closed today and the range bound trade is likely to continue for the day.