Monday, November 21, 2016

GBP/USD TECHNICAL OUTLOOK:22.11.2016

GBP/USD TECHNICAL OUTLOOK:22.11.2016
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE


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GBP/USD. Pair after opening at 1.2338made a low of 1.2310, and seen some bounce from the lower levels and formed a bullish candle signifying bulls are back in the pair for the short term if the pair maintain above the levels of 1.24 then it can test 1.26 in near future so utile dips to buy the pair for the day.

Fundamental Overview

Pound is trading at 1.25, appreciating against the US dollar in a surprise up move. There was no data that was reported yesterday. Comments from British Prime Minister May, saying that she would invoke Article 50 by March 2017 failed to induce any weakness. There is no major data to be reported from the British economy and markets are likely to continue with the trend of US dollar weakness.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
16:30:00 GBP CBI Industrial Trends Orders (Nov) -9 -17

EUR/USD TECHNICAL OUTLOOK:22.11.2016

EUR/USD TECHNICAL OUTLOOK:22.11.2016
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE


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EUR/USD. Pair after opening at 1.0590 Made a high of 1.0649 and saw the pair trading sidewise to positive session and formed a bullish candle and reversed but 1.0650 is acting as a resistance and pair has been making lower top and bottom for past months so the trend likely to be same with some bounce coming so utilize the bounce to sell the pair.

Fundamental Overview

Euro is trading at 1.0631, gaining some ground against the US dollar after a long stretch of losses. There was no economic event but the fall in US bond yields led to investors locking in some gains for the day. The political risks to the euro zone would be the key factor driving the EURUSD and the risks are skewed towards further weakness in the shared currency. There is no data to be reported today and we can expect the pair to be supported near the 1.06 level.

USDINR TECHNICAL OUTLOOK:22.11.2016

USDINR TECHNICAL OUTLOOK:22.11.2016
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE


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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%

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FREE GBPINR TIPS 3nd SESSION : 22.11.2016

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12.30PM : Buy USDINR (NOV) SA 68.33 SL 68.22 Target 68.43 / 68.51 / 68.59
12.30PM : Sell USDINR (NOV) SB 68.17 SL 68.28 Target 68.07 / 67.99 / 67.91

12.30PM : Buy EURINR (NOV) SA 72.53 SL 72.42 Target 72.63 / 72.71 / 72.79
12.30PM : Sell EURINR (NOV) SB 72.37 SL 72.48 Target 72.27 / 72.19 / 72.11

12.30PM : Buy GBPINR (NOV) SA 85.21 SL 85.10 Target 85.31 / 85.39 / 85.47
12.30PM : Sell GBPINR (NOV) SB 85.05 SL 85.16 Target 84.95 / 84.87 / 84.79

12.30PM : Buy JPYINR (NOV) SA 61.54 SL 61.43 Target 61.64 / 61.72 / 61.80
12.30PM : Sell JPYINR (NOV) SB 61.38 SL 61.49 Target 61.28 / 61.20 / 61.12

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Rupee opens higher at 68.13 per dollar:22.11.2016

Rupee opens higher at 68.13 per dollar:22.11.2016
If equities remain flat today, we expect the rupee to trade in a range of 68.05-68.20/dollar.
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE




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Indian rupee opened marginally higher at 68.13 per dollar on Tuesday versus previous close 68.16. "If equities remain flat today, we expect the rupee to trade in a range of 68.05-68.20/dollar." The dollar slipped after rising 10 straight days. As investors consolidated gains fueled by the election of a new republican president who is expected to adopt fiscal policies leading to interest rate increases.

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11.30AM : Buy USDINR (NOV) SA 68.27 SL 68.16 Target 68.37 / 68.45 / 68.53
11.30AM : Sell USDINR (NOV) SB 68.11 SL 68.22 Target 68.01 / 67.93 / 67.85

11.30AM : Buy EURINR (NOV) SA 72.61 SL 72.50 Target 72.71 / 72.79 / 72.87
11.30AM : Sell EURINR (NOV) SB 72.45 SL 72.56 Target 72.35 / 72.27 / 72.19

11.30AM : Buy GBPINR (NOV) SA 85.28 SL 85.17 Target 85.38 / 85.46 / 85.54
11.30AM : Sell GBPINR (NOV) SB 85.12 SL 85.23 Target 85.02 / 84.94 / 84.86

11.30AM : Buy JPYINR (NOV) SA 61.66 SL 61.55 Target 61.76 / 61.84 / 61.92
11.30AM : Sell JPYINR (NOV) SB 61.50 SL 61.61 Target 61.40 / 61.32 / 61.24

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10.00AM : Buy USDINR (NOV) SA 68.26 SL 68.15 Target 68.36 / 68.44 / 68.52
10.00AM : Sell USDINR (NOV) SB 68.10 SL 68.21 Target 68.00 / 67.92 / 67.84

10.00AM : Buy EURINR (NOV) SA 72.57 SL 72.46 Target 72.67 / 72.75 / 72.83
10.00AM : Sell EURINR (NOV) SB 72.41 SL 72.52 Target 72.31 / 72.23 / 72.15

10.00AM : Buy GBPINR (NOV) SA 85.23 SL 85.12 Target 85.33 / 85.41 / 85.49
10.00AM : Sell GBPINR (NOV) SB 85.07 SL 85.18 Target 84.97 / 84.89 / 84.81

10.00AM : Buy JPYINR (NOV) SA 61.67 SL 61.56 Target 61.77 / 61.85 / 61.93
10.00AM : Sell JPYINR (NOV) SB 61.51 SL 61.62 Target 61.41 / 61.33 / 61.25

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Currency Market Support and Resistance : 22.11.2016

Currency Market Support and Resistance : 22.11.2016


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USDINR ( 28-Nov-16 ) Enters in to Buy Zone and it is showing Strength. It is expected to test Resistance levels 68.29 / 68.41 / 68.51 . And the lower side , it has Strong Support @ 68.18 downside, it may tank to near support Levels such as 68.06 / 67.96 / 67.84 . Currently USDINR is Trading @ 68.17

EURINR ( 28-Nov-16 ) Enters in to Sell Zone and it is showing weakness. It is expected to test near Support levels 72.25 / 72.06 / 71.90 . And the upperside, it has Strong Resistance @ 72.41 upperside, it may test Resistance Levels such as 72.60 / 72.76 / 72.95 . Currently EURINR is Trading @ 72.44

GBPINR ( 28-Nov-16 ) Enters in to Buy Zone and it is showing Strength. It is expected to test Resistance levels 84.35 / 84.53 / 84.75 . And the lower side , it has Strong Support @ 84.13 downside, it may tank to near support Levels such as 83.95 / 83.73 / 83.55 . Currently GBPINR is Trading @ 84.17

JPYINR ( 28-Nov-16 ) Enters in to Sell Zone and it is showing weakness. It is expected to test near Support levels 61.42 / 61.22 / 61.11 . And the upperside, it has Strong Resistance @ 61.53 upperside, it may test Resistance Levels such as 61.73 / 61.85 / 62.05 . Currently JPYINR is Trading @ 61.62


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3.15PM : Buy USDINR (NOV) SA 68.23 SL 68.12 Target 68.33 / 68.41 / 68.49
3.15PM : Sell USDINR (NOV) SB 68.07 SL 68.18 Target 67.97 / 67.89 / 67.81

3.15PM : Buy EURINR (NOV) SA 72.58 SL 72.47 Target 72.68 / 72.76 / 72.84
3.15PM : Sell EURINR (NOV) SB 72.42 SL 72.53 Target 72.32 / 72.24 / 72.16

3.15PM : Buy GBPINR (NOV) SA 84.03 SL 83.92 Target 84.13 / 84.21 / 84.29
3.15PM : Sell GBPINR (NOV) SB 83.87 SL 83.98 Target 83.77 / 83.69 / 83.61

3.15PM : Buy JPYINR (NOV) SA 61.65 SL 61.54 Target 61.75 / 61.83 / 61.91
3.15PM : Sell JPYINR (NOV) SB 61.49 SL 61.60 Target 61.39 / 61.31 / 61.23

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