USDINR TECHNICAL OUTLOOK:22.11.2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
USDINR, the pair after opening at 68.14 and made a high of 68.30 and was seen a side wise action making doji 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 that was the target for the move yesterday achieved and could not close above the said levels so intraday will see some profit book in the pair.
Fundamental Overview
US dollar index is trading at 100.86, losing some momentum against the majors in yesterday’s trade. US bond yields have cooled off a little in yesterday’s session and traders attribute this to profit booking before the long thanksgiving weekend. There was no major economic event yesterday and as for today, existing home sales data is scheduled to be reported and is unlikely to have a major impact. We expect further correction in the index for the day.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
20:30:00 USD Existing Home Sales (Oct) 5.43M 5.47M
20:30:00 USD Existing Home Sales (MoM) (Oct) -0.50% 3.20%
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Fundamental Overview
US dollar index is trading at 100.86, losing some momentum against the majors in yesterday’s trade. US bond yields have cooled off a little in yesterday’s session and traders attribute this to profit booking before the long thanksgiving weekend. There was no major economic event yesterday and as for today, existing home sales data is scheduled to be reported and is unlikely to have a major impact. We expect further correction in the index for the day.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
20:30:00 USD Existing Home Sales (Oct) 5.43M 5.47M
20:30:00 USD Existing Home Sales (MoM) (Oct) -0.50% 3.20%