USD/JPY TECHNICAL OUTLOOK : 06.09.2016

USD/JPY TECHNICAL OUTLOOK : 06.09.2016

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USD/JPY. Pair after opening at 103.33 and made a high of 103.72 and was seen buying pressure after the breakout above 100.80 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 103.35, the pair is not able to go below 99.levels and that has emerge as a strong support so any dip shall be utilized to buy the pair

Fundamental Overview

Yen is trading at 103.56, remaining near the 103.00 mark since Friday. Bank of Japan governor kuroda spoke this morning and talked about the costs of easing but failed to delivery any hints about further easing. Markets would be waiting for the next BOJ meeting on the 20th of September for additional easing and the currency is likely to remain range bound till that date.

Jpyinr Intraday Tips, 2nd Session: 6.Sep.2016

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

10.25 am : Buy USDINR (SEP) SA 66.84 SL 66.73 Target 66.94 / 67.02 / 67.10
10.25 am : Sell USDINR (SEP) SB 66.68 SL 66.79 Target 66.58 / 66.50 / 66.42
 USDINR (SEP) : INTRADAY TREND : DOWN SL : 66.90 

10.25 am : Buy EURINR (SEP) SA 74.60 SL 74.49 Target 74.70 / 74.78 / 74.86
10.25 am : Sell EURINR (SEP) SB 74.44 SL 74.55 Target 74.34 / 74.26 / 74.18
 EURINR (SEP) : INTRADAY TREND : DOWN SL : 74.90 

10.25 am : Buy GBPINR (SEP) SA 89.02 SL 88.91 Target 89.12 / 89.20 / 89.28
10.25 am : Sell GBPINR (SEP) SB 88.86 SL 88.97 Target 88.76 / 88.68 / 88.60
 GBPINR (SEP) : INTRADAY TREND : DOWN SL : 89.00 

10.25 am : Buy JPYINR (SEP) SA 64.54 SL 64.43 Target 64.64 / 64.72 / 64.80
10.25 am : Sell JPYINR (SEP) SB 64.38 SL 64.49 Target 64.28 / 64.20 / 64.12
 JPYINR (SEP) : INTRADAY TREND : DOWN SL : 64.80 

GBP/USD TECHNICAL OUTLOOK : 06.09.2016

GBP/USD TECHNICAL OUTLOOK : 06.09.2016

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GBP/USD. Pair after opening at 1.3139 made a high of 1.3266 , and saw some profit booking from the higher levels the pair is respecting the levels of 1.3200 as a resistance and 20DMA at 1.3128 and 1.3000 is acting as a support for the pair and rise is shorting opportunity for medium to long term player as the pair is making lower top and bottom formation

Fundamental Overview

Pound is trading at 1.3320, continuing with the stronger trend as economic data continued to surprise on the upside. A surprise uptick in the services PMI data reported yesterday added to the strength of the British pound. There is no economic data to be reported today but expect the pound to be supported near the 1.33 level.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
04:31:00 GBP BRC Retail Sales Monitor (YoY) (Aug) 1.10%

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

9.14 am : Buy USDINR (SEP) SA 66.82 SL 66.71 Target 66.92 / 67.00 / 67.08
9.14 am : Sell USDINR (SEP) SB 66.66 SL 66.77 Target 66.56 / 66.48 / 66.40
 USDINR (SEP) : INTRADAY TREND : DOWN SL : 66.90 

9.14 am : Buy EURINR (SEP) SA 74.60 SL 74.49 Target 74.70 / 74.78 / 74.86
9.14 am : Sell EURINR (SEP) SB 74.44 SL 74.55 Target 74.34 / 74.26 / 74.18
 EURINR (SEP) : INTRADAY TREND : DOWN SL : 75.00 

9.14 am : Buy GBPINR (SEP) SA 88.99 SL 88.88 Target 89.09 / 89.17 / 89.25
9.14 am : Sell GBPINR (SEP) SB 88.83 SL 88.94 Target 88.73 / 88.65 / 88.57
 GBPINR (SEP) : INTRADAY TREND : DOWN SL : 89.00 

9.14 am : Buy JPYINR (SEP) SA 64.60 SL 64.49 Target 64.70 / 64.78 / 64.86
9.14 am : Sell JPYINR (SEP) SB 64.44 SL 64.55 Target 64.34 / 64.26 / 64.18
 JPYINR (SEP) : INTRADAY TREND : DOWN SL : 64.90 

EUR/USD TECHNICAL OUTLOOK : 06.09.2016

EUR/USD TECHNICAL OUTLOOK : 06.09.2016


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EUR/USD. Pair after opening at 1.1158 Made a low of 1.1126 and was trading with side wise 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

Fundamental Overview

Euro is trading at 1.1151, remained unchanged against the US dollar since we closed on Friday. Weaker non farm payrolls data failed to improve the shared currency and focus would be on the ECB monetary policy announcement this week. German factory orders and GDP data, due to be reported today are expected to be in line with expectations and wouldn’t do much to the shared currency.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
11:30:00 EUR German Factory Orders (MoM) (Jul) 0.50% -0.40%
14:30:00 EUR GDP (QoQ) (Q2) 0.30% 0.30%
14:30:00 EUR GDP (YoY) (Q2) 1.60% 1.60%

USDINR TECHNICAL OUTLOOK : 06.09.2016

USDINR TECHNICAL OUTLOOK : 06.09.2016

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Above is the Daily Chart of USDINR, the pair after opening at 67.35and made a high of 67.35 and trading side wise to negative and now after yellen speech the pair started to appreciate as pair breaking out few days back now 67.00 (SPOT)- will act as a strong resistance in the pair as this becomes the physiological level, and now violated the major support so intraday rise shall be utilized to sell the pair

Fundamental Overview

US dollar index is trading at 95.74, remaining supported despite the weak non-farm payrolls data on Friday. The US markets remained closed yesterday but the US dollar remained stable. Prospects of a rate hike in September have been lowered significantly after the report but a December rate hike still remains on the cards. Focus would be on the FED beige book and non-manufacturing ISM in the days ahead.


Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:15:00 USD Markit Composite PMI (Aug) 51.5 51.5
19:15:00 USD Services PMI (Aug) 50.9 50.9
19:30:00 USD ISM Non-Manufacturing Employment (Aug) 51.4
19:30:00 USD ISM Non-Manufacturing PMI (Aug) 55 55.5

MARKET OVERVIEW GLOBAL TRACKER : 06.09.2016

MARKET OVERVIEW GLOBAL TRACKER : 06.09.2016

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Asian markets are trading on a positive note this morning, helped by the prospect of delayed rate
hike from the US after weaker than expected non-farm payrolls data on Friday.

US dollar continued to trade on a weaker note but movement was muted with the US markets
remaining closed yesterday.

Rupee is set to open on a positive note after the long weekend, helped by the weaker US dollar
after Friday’s data and trade is likely to be biased towards further appreciation.

Rupee at 4-month high, opens 29 paise higher at 66.53/$ : 06.09.2016 09.02 Am

Rupee at 4-month high, opens 29 paise higher at 66.53/$ : 06.09.2016 09.02 Am

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The Indian rupee has opened at 66.53 a dollar, up 29 paise compared with Friday's closing value of 66.82 a dollar.

The Indian rupee has started off trade at four-month high on Tuesday after fall in US dollar due to weaker-than-expected jobs data.

The currency has opened at 66.53 a dollar, up 29 paise compared with Friday's closing value of 66.82 a dollar.

The market opened after a long weekend as it was shut on Monday for Ganesh Chaturthi holiday.

The probability of a US rate hike in September has diminished after the recent weaker-than-expected jobs report.

The USD traded heavy against most of the currencies. According to him, the USD-INR pair is expected to trade in the 66.40-66.80 a dollar range, with Central Bank support expected to curtail further gains.