Daily Market Reflection

28st April 2016

USDINR

Market Outlook
Rupee after the previous day gains stood strong in the beginning of the
session and traded silently on lower levels. FOMC Committee which is
coming with its monetary policy is expected to keep its benchmark
lending rates unchanged though the sentiments may get affected as they
will release their statements.
Key event which was awaited was UK Q1 GDP which came as per
expectations at 0.4% vs previous 0.6%. Yearly reading stands at 2.1%
against 2.0% expected. Hence, Britain ext still remains the important
point for the pound traders.
Fundamental News

Currency
Rupee
Dollar Index
Euro
Pound
Japnese Yen

Date

Date

26-04-16

27-04-16

USDINR

66.9300

66.8375

-0.14%

EURINR

75.5125

75.6000

0.12%

GBPINR

97.3550

97.5475

0.20%

JPYINR

60.2650

60.0150

-0.41%

% Chg

Event

Forecast

Previous

Tentative

JPY

Monetary Policy Statement

10:30am

JPY

BOJ Outlook Report

All day

EUR

German Prelim CPI m/m

-0.2%

0.8%

12:30pm

EUR

Spanish Flash CPI y/y

-0.7%

-0.8%

6:00pm

USD

Advance GDP q/q

0.7%

1.4%

USD

Unemployment Claims

258K

247K

6:00pm

Date
27-04-16
66.5460
75.1770
96.9242
59.8500

%
Change
-0.28%
-0.01%
0.15%
-0.61%

Close
(5:00pm)
66.5237
94.57
1.1316
1.4606
111.27

Prev
Close
66.4625
94.38
1.1307
1.4586
111.06

% Chg
0.09%
0.20%
0.07%
0.13%
0.18%

Global Commodities

Event Calendar (28th April 2016)

Currency

Date
26-04-16
66.7330
75.1814
96.7695
60.2200

Currencies vs $

Currency Future

Time

Currency
USDINR
EURINR
GBPINR
JPYINR

Asia FX trapped as Fed, BOJ caution grows; won rises.

Aussie plunges, Fed eyed for dollar direction.
Won, ringgit, Singapore dollar up; yuan dips.
Australia dollar sinks on inflation blow, NZ dollar hit by trade
deficit.
UK Q1 prelim GDP meets expectations, Brexit remains focal
point.

Currency

Reference Rate

Commodity
Gold
Silver
Crude
Copper

Close
1245.90
17.30
44.93
2.2161

Prev.Close
1243.72
17.25
44.46
2.2190

% Chg
0.17%
0.28%
1.05%
-0.13%

Our Previous calls update

Intraday super star
Date
Currency Entry
Exit
P/L
26/04 GBPINR 97.0000 96.9375 -1250
Trifid special
Date Currency Entry
Exit
P/L
26/04 JPYINR
59.8500 59.5500 12000
For our next calls click here..

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Overview
USDINR

EURINR

USDINR sustained at lower levels for the second consecutive

session and closed in negative zone.

EURINR after finding support of trend line in the previous

session as shown above moved in the same consolidated
range and closed flat with slight positive bias.

It strictly resisted at the trend line so coming from deeper

supports on daily chart in the previous session and so it may
further drop towards the support of 66.5500 while resistance
is seen near 67.2500.
R1
67.0000

R2
67.1500

S1
66.7000

S2
66.5000

Now, immediate resistance is shown around 75.8000 above

which buying momentum can be seen while support is
marked around 75.2500
R1

R2

S1

S2

75.7000

75.9000

75.4000

75.2000

GBPINR

JPYINR

GBPINR continued the bull rally since last few consecutive

sessions on back of strong pound against greenback.

JPYINR was the most worst performing pair for the intraday
session and closed with loss of approx 0.40%.

On daily charts, it has been moving in downward channel

pattern and the pattern will find its significance above the
resistance of 97.7500 while major support is seen near
96.7500.

On daily charts, it broke the support which it found at the

trend line so coming from deeper support levels and so next
crucial support is seen near 59.7000 and resistance near
60.3000.

R1
97.7000

R1
60.1000

R2
97.90000

S1
97.3000

S2
97.1000

R2
60.3000

S1
59.8000

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S2
59.6000

Intraday Super Star

(Premium Section)

EURINR consolidated around the support levels on intraday charts whereas hovered around the same range as of previous session
on daily charts. Hence, sell offs can be seen if it sustains below the given level.
SELL BELOW 75.5100 TARGETS 75.3900/75.2500 SL 75.7100.

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Trifid Special
(Premium Section)

USDINR reversed exactly from the trend line so shown in the daily chart above and dragged for the second consecutive session.
Therefore, selling pressure is expected to continue towards the near supports.
SELL BELOW 66.7900 TARGET 66.5500 SL 67.0100.

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