Thursday, December 22, 2016

GBP/USD TECHNICAL OUTLOOK : 23.12.2016

GBP/USD TECHNICAL OUTLOOK : 23.12.2016
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE

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GBP/USD. Pair after opening at 1.2352 made a high of 1.2378, and seen some selling coming in from the 1.2350 levels and the pair tested the levels of 1.2300 and sustain there for a while before bears came and took control and dragged prices lower below 1.23 now 1.23 will act as a resistance so utilized the rise to sell the pair.

Fundamental Overview

Pound is trading at 1.2283, continued to retreat from the higher levels just shy of 1.24 as markets continued to exert pressure after the dovish statement from the bank of England last week. UK market would close midday today and reopens only on Wednesday after the Christmas break. Expect the pair to be stuck near the
1.23 handle.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:00:00 GBP Business Investment (QoQ) (Q3) 0.90% 0.90%
15:00:00 GBP Current Account (Q3) -27.5B -25.9B
15:00:00 GBP GDP (QoQ) (Q3) 0.50% 0.50%
15:00:00 GBP GDP (YoY) (Q3) 2.30% 2.30%
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EUR/USD TECHNICAL OUTLOOK : 23.12.2016

EUR/USD TECHNICAL OUTLOOK : 23.12.2016
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE

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EUR/USD. Pair after opening at 1.0428 Made a low of 1.0422 and saw the pair trading with buying interest near the 1.0440 mark and pair had a strong bounce after our market closed the pair made a attempt to get pass 1.05 but could not succeed and reversed this signifies supply near 1.05 so any rise is a shorting
opportunity in the pair.

Fundamental Overview

Euro is trading at 1.0440, retreating from the 1.0499 highs that were seen yesterday. Year end short covering in a thinly traded market led to sharp appreciation in the shared currency but strong resistance near the 1.05 limited upward momentums. Euro is likely to remain in this range for the next week as markets go into the holiday sessions.
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USDINR TECHNICAL OUTLOOK : 23.12.2016

USDINR TECHNICAL OUTLOOK : 23.12.2016
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE

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USDINR, the pair after opening at 67.87 and made a low of 67.83 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 and is likely to trade with in the range for the day.

Fundamental Overview

US dollar index is trading at 103.04, printing a marginally positive move despite a deluge of positive data yesterday. Durable goods orders and Q3 GDP number beat expectations and personal income numbers were below consensus but the holiday thinned trading session limited strong moves in the currency markets. Expect the similar trend today with the US dollar remaining supported going into the weekend.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
20:30:00 USD Michigan Consumer Expectations (Dec) 89 88.9
20:30:00 USD Michigan Consumer Sentiment (Dec) 98 98
20:30:00 USD New Home Sales (MoM) (Nov) 0.021 -0.019
20:30:00 USD New Home Sales (Nov) 575K 563K
23:30:00 USD U.S. Baker Hughes Oil Rig Count 510
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Rupee opens at 67.93 per dollar; gains 6 paise : 23.12.2016

Rupee opens at 67.93 per dollar; gains 6 paise : 23.12.2016
The USD-INR to trade within the 67.80-68.10/dollar range, HDFC Bank.
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE

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The Indian rupee gained in the early trade on Friday. It has opened higher by 6 paise at 67.93 per dollar versus 67.99 Thursday. Bhaskar Panda of HDFC Bank said, "Festive fervour is the theme right now across the world. The dollar Index has given up some of the recent gains and is trading below 103 levels. EM currencies are still under the cloud." "We expect the USD-INR to trade within the 67.80-68.10/dollar range," he added. As per Karvy currency report, weakness in the equity markets will continue to exert pressure on the Indian currency.
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USD-INR to trade within 67.80-68.10/USD range : 23.12.2016

USD-INR to trade within 67.80-68.10/USD range : 23.12.2016
The 10-year benchmark bond yield is expected to inch up towards the 6.60 percent range, HDFC Bank.
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE

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"Festive fervour is the theme right now across the world. The dollar Index has given up some of the recent gains and is trading below 103 levels. EM currencies are still under the cloud. We expect the USD-INR to trade within the 67.80-68.10/USD range." "The 10-year benchmark bond yield is expected to inch up towards the 6.60 percent range."
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FREE USDINR TIPS 1st SESSION : 23.12.2016

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10.00AM : Buy USDINR (NOV) SA 67.99 SL 67.88 Target 68.09 / 68.17 / 68.25
10.00AM : Sell USDINR (NOV) SB 67.83 SL 67.94 Target 67.73 / 67.65 / 67.57

10.00AM : Buy EURINR (NOV) SA 71.06 SL 70.95 Target 71.16 / 71.24 / 71.32
10.00AM : Sell EURINR (NOV) SB 70.90 SL 71.01 Target 70.80 / 70.72 / 70.64

10.00AM : Buy GBPINR (NOV) SA 83.52 SL 83.41 Target 83.62 / 83.70 / 83.78
10.00AM : Sell GBPINR (NOV) SB 83.36 SL 83.47 Target 83.26 / 83.18 / 83.10

10.00AM : Buy JPYINR (NOV) SA 57.64 SL 57.53 Target 57.74 / 57.82 / 57.90
10.00AM : Sell JPYINR (NOV) SB 57.48 SL 57.59 Target 57.38 / 57.30 / 57.22

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Free Indian Forex Levels : 23.12.2016

Free Indian Forex Levels : 23.12.2016

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USD/JPY TECHNICAL OUTLOOK : 22.12.2016

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

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USD/JPY. Pair after opening at 117.84and made high of 118.04 and saw some buying from the lower levels in the session yesterday after the policy announcement few days back the pair is stuck in the range of 118.70-116.50 in the near term and likely to be in the range so trade the range but intraday 117 is a strong support so demand can come in the pair.

Fundamental Overview

Yen is trading at 117.56, trading above the 117.00 mark in most of yesterday’s trading session. Profit booking in the US dollar helped in recovering some losses in the currency pair. Yen continues to remain a sell on the every rise with a view for USDJPY to breach 120 early next year.
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GBP/USD TECHNICAL OUTLOOK : 22.12.2016

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

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GBP/USD. Pair after opening at 1.2369 made a low of 1.2315, and seen some selling coming in from the 1.24 levels and the pair tested the levels of 1.2315 and reversed but 1.2400 will act as a major resistance and likely to find supply there so remains sell at rise going ahead as the pair has been making lower top and bottom on long term charts.

Fundamental Overview

Pound is trading at 1.2365, traded in a narrow range in yesterday’s session and was unable to sustain above the 1.24 mark despite the US dollar weakness that was seen yesterday. Current account and revised Q3 GDP data are scheduled to be reported today but we do not see heavy movement ahead.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:00:00 GBP Curren t Account (Q3) -28.7B
15:00:00 GBP GDP (QoQ) (Q3) 0.50%
15:00:00 GBP GDP (YoY) (Q3) 2.30%
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