Wednesday, December 21, 2016

EUR/USD TECHNICAL OUTLOOK : 22.12.2016

EUR/USD TECHNICAL OUTLOOK : 22.12.2016
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE


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EUR/USD. Pair after opening at 1.0390 Made a low of 1.0380 and saw the pair trading with buying interest near the 1.04 mark and few days back the pair has respected the levels of 1.0350 and bounced and in the verge of that created a inverted head and shoulders pattern in 30mn charts so that target is done and the pair can face a strong resistance near 1.0480 mark near term high so intraday sell on rise

Fundamental Overview

Euro is trading at 1.0437, remaining supported near the 1.04 handle as traders begin to move to the sidelines before the holiday season. There was no major data from the EU markets and that remains the same for today. Expect redemption of the bearish trend once the markets comeback after the holiday session with parity for euro being in sight.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
14:30 EUR ECB Economic Bulletin

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1.00PM : Buy USDINR (NOV) SA 67.97 SL 67.86 Target 68.07 / 68.15 / 68.23
1.00PM : Sell USDINR (NOV) SB 67.81 SL 67.92 Target 67.71 / 67.63 / 67.55

1.00PM : Buy EURINR (NOV) SA 71.04 SL 70.93 Target 71.14 / 71.22 / 71.30
1.00PM : Sell EURINR (NOV) SB 70.88 SL 70.99 Target 70.78 / 70.70 / 70.62

1.00PM : Buy GBPINR (NOV) SA 84.06 SL 83.95 Target 84.16 / 84.24 / 84.32
1.00PM : Sell GBPINR (NOV) SB 83.90 SL 84.01 Target 83.80 / 83.72 / 83.64

1.00PM : Buy JPYINR (NOV) SA 57.86 SL 57.75 Target 57.96 / 58.04 / 58.12
1.00PM : Sell JPYINR (NOV) SB 57.70 SL 57.81 Target 57.60 / 57.52 / 57.44

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USDINR TECHNICAL OUTLOOK : 22.12.2016

USDINR TECHNICAL OUTLOOK : 22.12.2016
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE


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USDINR, the pair after opening at 67.95 and made a low of 67.85 and saw some buying from the lower levels after a strong sessions ,the pair broke above the range of 67.75-67.95 and few days back and again back to range to trade the range likely to be.

Fundamental Overview

US dollar index is trading at 102.96 and has traded in a narrow range of 102.80-103.20. Existing home sales data print was better than expected but traders seemed to focus on the upcoming holiday session to lock in the profits. Expect no major fireworks in the currency markets but the US data in the evening will add some sparks to an otherwise dull holiday thinned session.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00:00 USD Core Durable Goods Orders (MoM) (Nov) 0.20% 0.80%
19:00:00 USD Durable Goods Orders (MoM) (Nov) -4.70% 4.60%
19:00:00 USD GDP (QoQ) (Q3) 3.30% 3.20%
19:00:00 USD GDP Price Index (QoQ) (Q3) 1.40% 1.40%
19:00:00 USD Initial Jobless Claims 256K 254K
20:30:00 USD Core PCE Price Index (MoM) (Nov) 0.10% 0.10%
20:30:00 USD Core PCE Price Index (YoY) (Nov) 1.70% 20:30:00 USD Personal Spending (MoM) (Nov) 0.30% 0.30%

Rupee opens higher at 67.83 per dollar : 22.12.2016

Rupee opens higher at 67.83 per dollar : 22.12.2016
The rupee would come under renewed pressure in the new year based on macro performance in the wake of demonetisation, Mizuho Bank.
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE


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The Indian rupee continued its recovery on Thursday for the second consecutive session following correction in dollar. It has opened higher by 8 paise at 67.83 per dollar against previous close of 67.91. Mizuho Bank says he expects the rupee to range between 67.50-68.50/dollar over the next two weeks as the market remains quiet towards the end of the year and selling pressure from foreign investors eases. The rupee would come under renewed pressure in the new year based on macro performance in the wake of demonetisation, he says. The dollar index retreated after hitting its highest since December 2002. Meanwhile the Swedish Crown gained 1.4 percent against the dollar after Sweden's Central Bank narrowly voted to add to its bond-buying program.

Rupee to come under renewed pressure : 22.12.2016

Rupee to come under renewed pressure : 22.12.2016
The 10-year benchmark yield to be rangebound between 6.75-6.85 percent, Mizuho Bank.
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE


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"We expect the rupee to range between 67.50-68.50/USD over the next two weeks as the market remains quiet towards the end of the year and selling pressure from foreign investors eases. The rupee would come under renewed pressure in the new year based on macro performance in the wake of demonetisation." He further said, "We expect bond yields to remain rangebound till the end of the year on a reasonably comfortable liquidity situation with renewed demand from large corporates & funds. We expect the 10-year benchmark yield to be rangebound between 6.75-6.85 percent."

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11.30AM : Buy USDINR (NOV) SA 67.97 SL 67.86 Target 68.07 / 68.15 / 68.23
11.30AM : Sell USDINR (NOV) SB 67.81 SL 67.92 Target 67.71 / 67.63 / 67.55

11.30AM : Buy EURINR (NOV) SA 70.97 SL 70.86 Target 71.07 / 71.15 / 71.23
11.30AM : Sell EURINR (NOV) SB 70.81 SL 70.92 Target 70.71 / 70.63 / 70.55

11.30AM : Buy GBPINR (NOV) SA 84.01 SL 83.90 Target 84.11 / 84.19 / 84.27
11.30AM : Sell GBPINR (NOV) SB 83.85 SL 83.96 Target 83.75 / 83.67 / 83.59

11.30AM : Buy JPYINR (NOV) SA 57.84 SL 57.73 Target 57.94 / 58.02 / 58.10
11.30AM : Sell JPYINR (NOV) SB 57.68 SL 57.79 Target 57.58 / 57.50 / 57.42

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Free Currency and Commodity Trading Levels : 22.12.2016

Free Currency and Commodity Trading Levels : 22.12.2016

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FREE USDJPY 4th SESSION : 21.12.2016

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1.30PM : Buy USDINR (NOV) SA 67.96 SL 67.85 Target 68.06 / 68.14 / 68.22
1.30PM : Sell USDINR (NOV) SB 67.80 SL 67.91 Target 67.70 / 67.62 / 67.54

1.30PM : Buy EURINR (NOV) SA 70.81 SL 70.70 Target 70.91 / 70.99 / 71.07
1.30PM : Sell EURINR (NOV) SB 70.65 SL 70.76 Target 70.55 / 70.47 / 70.39

1.30PM : Buy GBPINR (NOV) SA 84.11 SL 84.00 Target 84.21 / 84.29 / 84.37
1.30PM : Sell GBPINR (NOV) SB 83.95 SL 84.06 Target 83.85 / 83.77 / 83.69

1.30PM : Buy JPYINR (NOV) SA 57.91 SL 57.80 Target 58.01 / 58.09 / 58.17
1.30PM : Sell JPYINR (NOV) SB 57.75 SL 57.86 Target 57.65 / 57.57 / 57.49

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