USDINR TECHNICAL OUTLOOK:21.11.2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USDINR, the pair after opening at 68.10 and made a high of 68.25 and was seen a side wise action making small candle after a inside bar day before the pair had traded sidewise for many weeks in the range of 66.40-67.00 and it broke out and trending on the higher side but going ahead 68.22 a previous swing high is likely the target of the pair for the move but intraday likely to trade on the side
wise for the day.
Fundamental Overview
US dollar index is trading at 101.27, continuing with the appreciating trend as markets remain positive about the prospects for the US economy and a possible rate hike from the FED in the next FOMC meeting. There was no economic data reported from the US but the positive momentum from the previous day after Yellen testimony drove the dollar higher. We would like to watch the bond yields for signs of exhaustion to gauge any possible turn around, else a slow dollar rally can be expected for the next few sessions.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:30:00 USD FOMC Member Stanley Fischer Speaks
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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wise for the day.
Fundamental Overview
US dollar index is trading at 101.27, continuing with the appreciating trend as markets remain positive about the prospects for the US economy and a possible rate hike from the FED in the next FOMC meeting. There was no economic data reported from the US but the positive momentum from the previous day after Yellen testimony drove the dollar higher. We would like to watch the bond yields for signs of exhaustion to gauge any possible turn around, else a slow dollar rally can be expected for the next few sessions.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:30:00 USD FOMC Member Stanley Fischer Speaks