Daily Market Reflection

27st April 2016

USDINR

Market Outlook
Rupee opened the session on weak note but recovered gradually during
the session.
Markets are awaited for the monetary decisions from the Federal Reserve
and Bank of Japan, the latter of which is expected to announce new
stimulus measures. Some other key economic indicators are also lined up
to be released in this week; majorly towards the latter half of the week
including first quarter GDP reports from the U.K. and U.S. and inflation
data from the eurozone.

Reference Rate
Currency

Fundamental News

Yen gains versus dollar as BOJ, Fed meetings loom.

United Kingdom BBA Mortgage Approvals registered at
45.096K, below expectations (46.1K) in March.
Italy Trade Balance non-EU increased to 4.04B in March from
previous 2.62B.
Sweden Producer Price Index (MoM) rose from previous -0.1%
to 0.8% in March.

Date

Date

25-04-16

26-04-16

USDINR

66.6500

66.5350

-0.17%

EURINR

75.0200

75.0475

0.04%

GBPINR

96.4400

96.8575

0.43%

JPYINR

59.9800

59.9625

-0.03%

% Chg

Currency

Event

Forecast

Previous

10:00am

JPY

All Industries Activity m/m

-1.3%

2.0%

1:30pm

EUR

M3 Money Supply y/y

5.0%

5.0%

2:00pm

GBP

Prelim GDP q/q

0.4%

0.6%

7:30pm

USD

Pending Home Sales m/m

0.3%

3.5%

11:30pm

USD

FOMC Statement

USD

Federal Funds Rate

<0.50%

<0.50%

11:30pm

Date
26-04-16
66.7330
75.1814
96.7695
60.2200

%
Change
0.07%
0.30%
0.46%
0.38%

Currencies vs $
Currency

Close
(5:00pm)
66.5300
95.11
1.1286
1.4560
110.90

Prev
Close
66.6500
94.57
1.1271
1.4491
110.92

% Chg
-0.17%
-0.56%
-0.13%
-0.47%
0.01%

Global Commodities

Event Calendar (27th April 2016)

Time

USDINR
EURINR
GBPINR
JPYINR

Rupee
Dollar Index
Euro
Pound
Japnese Yen

Currency Future
Currency

Date
25-04-16
66.6839
74.9527
96.3249
59.9900

Commodity
Gold
Silver
Crude
Copper

Close
1233.60
16.96
43.08
2.2190

Prev.Close
1235.89
16.94
42.84
2.2245

% Chg
0.18%
-0.11%
-0.55%
0.24%

Our Previous calls update

Intraday super star
Date
Currency Entry
25/04
Trifid special

Exit
-

P/L
-

Date
Currency Entry Exit
25/04
For our next calls click here..

P/L
-

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Overview
USDINR
After the consecutive three day hike in the counter, Rupee
found some strength against the dollar.
It opened on strong note but strong rebounding was seen in
the pair which gradually took it towards the two days lows.
On daily charts, it is facing stiff resistance around 100 day
EMA i.e. 67.0000 and todays rebounding from higher levels
shows probability of short reversals from current levels and
now 66.3000-66.0500 is seen as support range for USDINR
while strict resistance is still maintained near 67.0000.

R1
66.9000

R2
67.1000

S1
66.3000

S2
66.0500

EURINR
The pair is strongly consolidating in the same tight range
since last four consecutive sessions and another noticeable
thing is that it is constantly facing resistance at higher levels
and closing at lower levels.
On daily charts, a trend line is seen coming from recent lows
which is acting as strong support and if it provides negative
breakout on daily charts then free fall can be seen in the
counter below 74.8000 and it may find next support near 100
day EMA i.e. 74.4000. On higher side, 75.7500 is acting as
major resistance from current levels.

R1
75.4000

R2
75.7500

S1
74.8000

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S2
74.3000

Overview
GBPINR
It was stupendous rally so shown by GBPINR in the last five
consecutive sessions.
It was a gap up opening for the day and the pair was able to
sustain on higher side for the whole intraday session.
On daily charts, it has been observed that it showed strong
pull back from the lower band of channel pattern and has
reached towards the 100 day EMA which may act as critical
point for the counter. From current levels, 97.2000 is seen as
key resistance while any closing below 96.5000 can trigger
for selling pressure.

R1
97.2000

R2
97.5000

S1
95.5000

S2
93.1000

JPYINR
It has shown bearish rally since last five consecutive sessions
facing constant resistance at higher levels.
It was a gap up opening for the pair but it was unable to
sustain at higher levels and soon dragged lower and
breached the previous days lows also.
On daily chart, strong rebounding is seen from 52 week highs
and the counter strongly dropped down. Trend line is seen in
the chart coming from recent lows and any breakout from
such levels i.e. 59.8800 and any closing below it can further
negate the sentiments and may drop towards the nearest
support of 59.6000-59.4000. On higher side, resistance so
seen is 60.3000-60.5000.

R1
60.3000

R2
60.6000

S1
59.8000

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S2
59.6000

Intraday Super Star

(Premium Section)

GBPINR surpassed the trend line on daily charts so coming from highs as seen in the chart above. It has also faced resistance of
psychological levels of 97.0000. Bullishness may continue above this level.
BUY ABOVE 97.0000 TARGETS 97.1500/97.3000 SL 96.8000.

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Trifid Special
(Premium Section)

JPYINR found support around the trend line so coming from recent lows and any closing below it can further drag the pair in
southward direction.
SELL BELOW 59.8500 TARGET 59.5500 SL 60.2000.

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