USDINR TECHNICAL OUTLOOK : 23.01.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
USDINR, the pair after opening at 68.10 and made a high of 68.28 and saw the pair traded volatile taking supports near 68.08 mark and today likely to see gap down after a inauguration speech by trump now pair can test lower end of the supports at 67.90 but overall the pair remains range but overall it remains in the range of 67.70-68.40 in spot and likely to trade that range during the month so trade that range.
Fundamental Overview
US dollar index is trading on a negative note at 100.40. US dollar was sold off going into the presidential inauguration and the trend continued as Donald Trump failed to provide any clear direction on policy. Focus of the speech was protectionism and that did not play out well with the markets. We would need to wait for the market reaction as new policies are announced. As of now we can expect further consolidation in the US dollar to the 100 zone for the US dollar index in the near term. No data to be reported today, market forces to define the direction for dollar.
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
Fundamental Overview
US dollar index is trading on a negative note at 100.40. US dollar was sold off going into the presidential inauguration and the trend continued as Donald Trump failed to provide any clear direction on policy. Focus of the speech was protectionism and that did not play out well with the markets. We would need to wait for the market reaction as new policies are announced. As of now we can expect further consolidation in the US dollar to the 100 zone for the US dollar index in the near term. No data to be reported today, market forces to define the direction for dollar.