Sunday, August 28, 2016

Currencies Technical Analysis : 29.08.2016

Currencies Technical Analysis : 29.08.2016

NIFTY Fut TREND : SELL ZONE
BANKNIFTY Fut   : SELL ZONE

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 USDINR

USINR pair recovered marginally from the low of 67.3 1  and finally settled at 37.39 moving 9 paisa. Pair i s still  quoting within  the narrow range. The pair is just holding  below the immediate trend line resistance a break a bove  that will extend till the resistance of 67.65. For  the day,  we recommend to buy above 67.42 for above mentioned targets.

  GBPINR After failing surpass the trend line resistance of  89.40,

  GBPINR pair remained subdued on Friday and ended at 88.93. As long as it holds below the trend line the move is  like to be down ward and could draw down till 88.00 then  87.00 levels.

 EURINR EURINR pair mostly remained on flat note and ended  at  76.07. After previous sessions Doji candle pair ope ned at  76.00 and moved up till 76.07. The trend is likely  to  subdued, so we recommend buying on dips with stop l oss  below 75.90.  JPYINR After bearish close on Thursday,

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Currency & Debt market : 29.08.2016

Currency &  Debt market : 29.08.2016

NIFTY Fut TREND : SELL ZONE
BANKNIFTY Fut   : SELL ZONE


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 • Government bond yields recorded their first weekly gain in nine weeks  as yields in emerging market economies eased ahead of the crucial  Jackson hole symposium
 • The benchmark 7.59% bond maturing in 2026 ended at | 103.11 against  the previous close of | 103.15
 • The benchmark 7.59% 2026 bond yield rose 1 bps to end at 7.13%  against the previous close of 7.12%. Forex (US$/INR)
  • The rupee was little changed against the dollar, as traders stayed  cautious in a thinly traded session ahead of a speech by the Federal  Reserve Chair on Friday evening
 • The dollar index against six major currencies posted gains and ended at  95.57, gaining 0.84% as the Fed chai r’s comments on an improvement in  the economy and a strengthening case for a rise in the federal funds rate  supported the US dollar over major currencies.

Read more at: http://www.moneycontrol.com/news/brokeragerecos-currencies/buyus36inrseptemberfuttargetof6765-6785icicidirect_7357521.html?utm_source=ref_article
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Free Nse Usdinr Tips, 3rd Session: 29.Aug.2016


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 ( Paper Trading Practice for Currency Segment USDINR/EURINR/GBPINR/JPYINR ) 

 12.13.Pm : Buy USDINR (SEP) SA 67.57 SL 67.46 Target 67.67 / 67.75 / 67.83
12.13.Pm : Sell USDINR (SEP) SB 67.41 SL 67.52 Target 67.31 / 67.23 / 67.15
 USDINR (SEP) : INTRADAY TREND : UP SL : 67.35 

 12.13.Pm : Buy EURINR (SEP) SA 75.66 SL 75.55 Target 75.76 / 75.84 / 75.92
12.13.Pm : Sell EURINR (SEP) SB 75.50 SL 75.61 Target 75.40 / 75.32 / 75.24
 EURINR (SEP) : INTRADAY TREND : DOWN SL : 75.80 

 12.13.Pm : Buy GBPINR (SEP) SA 88.55 SL 88.44 Target 88.65 / 88.73 / 88.81
12.13.Pm : Sell GBPINR (SEP) SB 88.39 SL 88.50 Target 88.29 / 88.21 / 88.13
 GBPINR (SEP) : INTRADAY TREND : DOWN SL : 88.80 

 12.13.Pm : Buy JPYINR (SEP) SA 65.97 SL 65.86 Target 66.07 / 66.15 / 66.23
12.13.Pm : Sell JPYINR (SEP) SB 65.81 SL 65.92 Target 65.71 / 65.63 / 65.55
 JPYINR (SEP) : INTRADAY TREND : DOWN SL : 66.25 

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Jpyinr Intraday Tips, 2nd Session: 29.Aug.2016

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 ( Paper Trading Practice for Currency Segment USDINR/EURINR/GBPINR/JPYINR ) 

 10.30.am : Buy USDINR (SEP) SA 67.55 SL 67.44 Target 67.65 / 67.73 / 67.81
10.30.am : Sell USDINR (SEP) SB 67.39 SL 67.50 Target 67.29 / 67.21 / 67.13
 USDINR (SEP) : INTRADAY TREND : UP SL : 67.35 

 10.30.am : Buy EURINR (SEP) SA 75.71 SL 75.60 Target 75.81 / 75.89 / 75.97
10.30.am : Sell EURINR (SEP) SB 75.55 SL 75.66 Target 75.45 / 75.37 / 75.29
 EURINR (SEP) : INTRADAY TREND : DOWN SL : 75.87 

 10.30.am : Buy GBPINR (SEP) SA 88.64 SL 88.53 Target 88.74 / 88.82 / 88.90
10.30.am : Sell GBPINR (SEP) SB 88.48 SL 88.59 Target 88.38 / 88.30 / 88.22
 GBPINR (SEP) : INTRADAY TREND : DOWN SL : 88.93 

 10.30.am : Buy JPYINR (SEP) SA 66.05 SL 65.94 Target 66.15 / 66.23 / 66.31
10.30.am : Sell JPYINR (SEP) SB 65.89 SL 66.00 Target 65.79 / 65.71 / 65.63
 JPYINR (SEP) : INTRADAY TREND : DOWN SL : 66.31 
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USD/JPY OUTLOOK : 29.08.2016

USD/JPY  OUTLOOK : 29.08.2016
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USD/JPY. Pair after opening at 100.29and made a high of 99.91 and was seen 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, the pair is not able to go below 99.levels and that has emerge as a strong support so any trade above 100.50 is a breakout buying in the pair

Fundamental Overview

Yen is trading at 102.00, depreciating against the US dollar on Friday. Apart from the hawkish comments from US FED members, bank of Japan’s governor Kurodo continued with the promise of additional stimulus and this led to a sharp depreciation of Yen. We expect the Yen to continue depreciating going into the non-farm payrolls data on Friday. 
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GBP/USD OUTLOOK : 29.08.2016

GBP/USD OUTLOOK : 29.08.2016

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GBP/USD. Pair after opening at 1.3230 made a high of 1.3264 , and saw some profit booking from the higher levels the pair is respecting the levels of 1.3100 as a resistance and 20DMA at 1.3096 and now that has become support and the pair is making inverted head and shoulder pattern on hourly chart so intraday dips shall be utilized to buy the pair

Fundamental Overview

Pound is trading at 1.3120, trading on a weaker note but continued to be resilient against the US dollar as compared to its peers. With limited data to be reported and major monetary policy decisions taken for the short term, we can expect some support for Pound until a strong negative economic event. With the UK markets being closed today, expect range bound trade in pound.
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EUR/USD OUTLOOK : 29.08.2016

EUR/USD OUTLOOK : 29.08.2016
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EUR/USD. Pair after opening at 1.1298Made a high of 1.1341, and was trading with a negative bias, during the day ,after the yellen speech and now the pair has violated the recent range and any rise close to its yesterdays high likely to find resistance, while strong resistance near swing high and channel resistance 1.1360 will face strong hurdle, so rise shall be utilized to sell the pair

Fundamental Overview

Euro is trading at 1.1200, depreciating against the US dollar in the aftermath of Yellen and Fisher speech. Euro has retreated from the near the 1.14 to current levels and is likely to remain in the broader range of 1.10-1.14 till strong evidence of dollar strength emerges in the form of economic data. Expect range bound trading in the pair for the day.
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USDINR TECHNICAL OUTLOOK : 29.08.2016

USDINR TECHNICAL OUTLOOK : 29.08.2016

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Above is the Daily Chart of USDINR, the pair after opening at 67.01and made a low of 66.94 and trading side wise to positive and now after yellen speech the pair started to appreciate as pair breaking out few days back now 67.00- will act as a strong support in the pair on spot basis and any dip can be utilized to go long in the pair and short term resistance will come around 67.40 levels

Fundamental Overview

US dollar index is trading at 95.48, appreciating in Friday’s trade as markets reacted to the hawkish
comments from FED chair and vice chair. Odds for a rate hike in coming months have doubled and markets are looking at December rate hike as a certainty. Look for continued strength of the US dollar and all incoming data would be important from now on, beginning with the US non-farm payrolls of Friday.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
08:00:00 USD Core PCE Price Index (YoY) (Jul) 1.60%
18:00:00 USD Core PCE Price Index (MoM) (Jul) 0.10% 0.10%
18:00:00 USD Personal Spending (MoM) (Jul) 0.30% 0.40%
19:00:00 USD Fed Chair Yellen Speaks 
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MARKET OVERVIEW GLOBAL TRACKER : 29.08.2016

MARKET OVERVIEW GLOBAL TRACKER : 29.08.2016
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Markets in Asia are trading on a weaker note after the hawkish comments from the FED chair and
vice chair pushed the chances of a rate hike higher and drove equity markets lower.
US dollar index is trading at 95.48, appreciating against all the majors since Friday and the appreciating trend is likely to continue for the day. Rupee is set to open on a negative note and the US dollar strength is set to continue till the non-farm payrolls data on Friday.
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Rupee opens at 67.14 per dollar; down 8 paise : 09.03Am

Rupee opens at 67.14 per dollar; down 8 paise : 09.03Am

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We expect the USD-INR pair to trade in the range of 66.90-67.20/dollar today,

The Indian rupee opened lower by 8 paise at 67.14 per dollar on Monday versus 67.06 Friday.

"Interest rate speculation will continue to keep the USD higher. We expect the USD-INR pair to trade in the range of 66.90-67.20/dollar today."

The dollar was near a two-week high against the yen after comments from Central Bank chiefs at the weekend reinforced the divergence between monetary policy in the US and other parts of the world. Bank of Japan governor Haruhiko Kuroda reiterated a pledge to ease monetary policy further if necessary, saying that he would bolster economic stimulus "without hesitation."

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Free Indian Forex Tips, 1st Session: 29.Aug.2016

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 ( Paper Trading Practice for Currency Segment USDINR/EURINR/GBPINR/JPYINR ) 

 9.11.Am : Buy USDINR (SEP) SA 67.55 SL 67.44 Target 67.65 / 67.73 / 67.81
9.11.Am : Sell USDINR (SEP) SB 67.39 SL 67.50 Target 67.29 / 67.21 / 67.13
 USDINR (SEP) : INTRADAY TREND : UP SL : 67.05 

 9.11.Am : Buy EURINR (SEP) SA 75.70 SL 75.59 Target 75.80 / 75.88 / 75.96
9.11.Am : Sell EURINR (SEP) SB 75.54 SL 75.65 Target 75.44 / 75.36 / 75.28
 EURINR (SEP) : INTRADAY TREND : DOWN SL : 75.87 

 9.11.Am : Buy GBPINR (SEP) SA 88.66 SL 88.55 Target 88.76 / 88.84 / 88.92
9.11.Am : Sell GBPINR (SEP) SB 88.50 SL 88.61 Target 88.40 / 88.32 / 88.24
 GBPINR (SEP) : INTRADAY TREND : DOWN SL : 88.93 

 9.11.Am : Buy JPYINR (SEP) SA 66.09 SL 65.98 Target 66.19 / 66.27 / 66.35
9.11.Am : Sell JPYINR (SEP) SB 65.93 SL 66.04 Target 65.83 / 65.75 / 65.67
 JPYINR (SEP) : INTRADAY TREND : DOWN SL : 66.31 
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