Daily Market Reflection

08th November 2016

USDINR

Market Outlook
Like the first two months of 2016, November and December are likely
to be highly volatile for the domestic currency market in the runup to
and following the US elections. Rising chances of a Fed rate hike next
month and redemption of FCNRs worth $26 billion maturing this
month back home are likely to put pressure on the domestic currency.
China's currency fell to one-week lows on Monday as the dollar gained
against regional currencies in a relief rally after news that Democrat
Hillary Clinton would not face criminal charges related to her use of a
private e-mail server.

Reference Rate
Currency

Fundamental News

Dollar jumps after Clinton gets eleventh-hour election boost.

Sterling falls more than 1 per cent against resurgent dollar.

Russian rouble slips vs dollar on Clinton campaign boost.

China's yuan slips to one-week lows on dollar bounce.

Eurozone Sales fall for second month running in October.

UK Annual house price growth eases again to 5.2%.

USDINR
EURINR
GBPINR
JPYINR

Date
Date
04-11-16 07-11-16
66.7219
66.7301
74.0546
73.8435
83.1355
82.9322
64.6200
63.8800

Currencies vs $
Currency

Currency Future

Close
(5:00pm)
66.7350
97.6200
1.1070
1.2419
104.44

Date

Date

04-11-16

07-11-16

USDINR

66.9300

66.9400

+0.01%

EURINR

74.3050

74.1000

-0.28%

Rupee
Dollar Index
Euro
Pound
Japanese Yen

GBPINR

83.6175

83.1900

-0.51%

Global Commodities

JPYINR

65.0425

64.1225

-1.41%

Commodity
Gold
Silver
Crude
Copper

Currency

% Chg

Event Calendar (08th November 2016)

Time

Currency

Event

Forecast

%
Change
+0.01%
-0.28%
-0.24%
-1.14%

Previous

12:30 pm

EUR

French Trade Balance

-4.1B

-4.3B

3:00 pm

GBP

Manufacturing Production
m/m

0.5%

0.2%

All Day

EUR

ECOFIN Meetings

8:30 pm

USD

JOLTS Job Openings

5.67M

5.44M

8th-12th

USD

Mortgage Delinquencies

4.66%

All Day

USD

Presidential Election

Close
1286.57
18.19
44.71
2.2848

Prev
Close
66.7075
96.9400
1.1073
1.2454
104.43

% Chg

Prev.Close
1290.13
18.14
44.57
2.2703

% Chg
-0.27%
+0.27%
+0.31%
+0.63%

+0.04%
+0.70%
-0.02%
-0.28%
+0.01%

OUR PREVIOUS CALLS UPDATE

Intraday super star
Date
Currency Entry
Exit
P/L
3/11
USDINR 66.9350 66.8775 1150
Trifid special
Date Currency Entry
Exit
P/L
7/11
JPYINR
65.0000 64.6000 -16000
For our next calls click here..

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Overview
USDINR

EURINR

USDINR did not show any volatile movements and finally

closed the session on a flat note.

EURINR broke the support which it was finding in the last

three consecutive sessions and closed below it.

On daily chart, it is moving in the same range since last few

Now, if it sustains below 74.0000 then it may further dip

sessions where 67.0000 is continuously acting as key

resistance whereas 66.7000 is seen as good support.

towards 73.7500 level while 74.3000 is seen as immediate

resistance from current levels.

R1
67.1000

R1

R2

S1

S2

74.3000

74.5000

73.9000

73.7000

R2
67.3000

S1
66.8000

S2
66.7000

GBPINR

JPYINR

GBPINR strongly faced resistance near 84.0000 mark and fell

JPYINR opened gap down and surpassed the important

sharply during the intraday session.

support zone which made the pair to close with loss of1.4%.

On daily chart, reversal candlestick pattern on resistance

levels indicates correction on lower side and if it falls below

On daily chart, its closing below 100 day EMA of 64.4000 is

a weak sign for the counter and now 63.6000 may act as

82.9000 then 82.5000 is seen as near support.

major support while 64.5500 is seen as key resistance.

R1
83.3000

R2
83.5000

S1
83.0000

S2
82.8000

R1
64.2000

R2
64.4000

S1
63.9000

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S2
63.7000

Intraday Super Star

(Premium Section)

GBPINR on its daily chart witnessed a reversal candlestick pattern violating the important resistance. Hence, selling pressure is
expected below the mentioned level.
SELL BELOW 82.9400 TARGETS 82.8200/82.7000 SL 83.1400.

www.trifidresearch.com | Email id: info@trifidresearch.com | Toll Free: 1800-270-1410

Trifid Special
(Premium Section)

EURINR broke the important support level on daily chart and closed on a weak note. If the selling pressure continues then the
pair is expected to test deeper support levels.
SELL BELOW 74.1500 TARGET 73.8500 SL 74.6500.

www.trifidresearch.com | Email id: info@trifidresearch.com | Toll Free: 1800-270-1410

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