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Daily Market Reflection

2nd May 2016


USDINR

Market Outlook
Rupee slipped against the greenback in the beginning of the session and
remained sideways to negative for the rest of the session.
Major happening for the cross currency market was that Yen tested 18
month highs against dollar after its biggest weekly gain in over seven
years. Some other key economic indicators which released are as follows:
German Manufacturing PMI rises to three - month high as new order
growth ticks higher, French manufacturing sector downturn deepens
amid sharper fall in new orders, Italian Manufacturing sector sees
strongest growth for four months in April.
Fundamental News
India's forex reserves continue to rise, reached a record
high of $361.6bn.
Yen hits 18-month high vs dollar as Japan seen in policy
bind.
Euro Zone Growth remains lacklustre as French downturn
deepens.
Swiss retail trade turnover falls by 2.4%.

Date

Date

29-04-16

02-05-16

USDINR

66.6650

66.7825

0.18%

EURINR

75.9700

76.6000

0.83%

GBPINR

97.4225

97.6975

0.28%

JPYINR

62.1800

62.5900

0.66%

Currency

Event

Previous

CNY

Caixin Manufacturing PMI

49.8

49.7

2:00am

GBP

Manufacturing PMI

51.3

51.0

2:30pm

EUR

PPI m/m

0.1%

-0.7%

USD

IBD/TIPP Economic
Optimism

46.6

46.3

USD

FOMC Member Mester


Speaks
Total Vehicle Sales

17.3m

16.6m

8:00pm
All Day

USD

Date
%
Change
02-05-16
66.3435 -0.26%
76.0562 0.43%
97.0207 0.19%
62.3100 0.56%

Close
(5:00pm)
66.4138
92.90
1.1480
1.4634
106.63

Prev
Close
66.3938
93.08
1.1481
1.4629
106.62

% Chg
0.03%
-0.19%
-0.08%
0.03%
0.00%

Global Commodities

7:15am

7:30am

USDINR
EURINR
GBPINR
JPYINR

Rupee
Dollar Index
Euro
Pound
Japnese Yen

% Chg

Forecast

Date
29-04-16
66.5175
75.7303
96.8310
61.9600

Currency

Event Calendar (3rd May 2016)


Time

Currency

Currencies vs $

Currency Future
Currency

Reference Rate

Commodity
Gold
Silver
Crude
Copper

Close
1298.53
17.86
45.83
2.2725

Prev.Close
1291.66
17.70
45.46
2.2698

% Chg
0.53%
0.90%
0.81%
0.11%

Our Previous calls update


Intraday super star
Date
Currency Entry
Exit
P/L
02/05 JPYINR
62.4100 62.5500 2800
Trifid special
Date Currency Entry
Exit
P/L
02/05 EURINR 76.3600 76.6100 12000
For our next calls click here..

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Overview
USDINR

EURINR

USDINR after opening flat traded sideways for most part of the
session around its near support as on daily charts but inched
higher in the last hour.

EURINR opened gap up and bulls carried the pair on higher


side on back of strong Euro against all global currencies and
closed with gain of approx 0.83%.

If it sustains above 66.8000 then it may lead towards next


resistance of 67.0000 while on lower side 66.6000 is still act as
major support.

Strength can be seen in the counter till it sustains above the


level of 75.5000 while any closing below 75.2000 can be a sign
for correction.

R1
67.0000

R1

R2

S1

S2

76.8000

77.0000

76.4000

76.2000

R2
67.2000

S1
66.6000

S2
66.4000

GBPINR

JPYINR

GBPINR traded sideways as per previous close for most part of


the session but hiked in the last hour to close the pair on
positive note.

JPYINR opened gap up and sustained higher continuing the


bulls for the fourth consecutive session and is continuously
making new 52 week highs.

In this bullish trend for the counter, 98.0000 is still seen as the
crucial resistance while 97.3000 is seen as immediate support
for the counter.

Buy on dips is usually seen in this pair as 62.3000-62.1000 is


seen as near support range from where buying can be seen
while 63.0000 is seen as major resistance.

R1
97.9000

R1
62.8000

R2
98.1000

S1
97.5000

S2
97.3000

R2
63.0000

S1
62.3500

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S2
62.2000

Intraday Super Star


(Premium Section)

GBPINR is able to sustain higher on daily charts since last few sessions and now is expected to move towards the trend line acting
as resistance as shown in the chart above.
BUY ABOVE 97.9500 TARGETS 98.1500/98.3500 SL 97.6000.

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Trifid Special
(Premium Section)

EURINR gave positive breakout of the triangle pattern as per our previous reports and now is expected to continue its bull run if it
holds above the immediate resistance on daily charts.
BUY ABOVE 76.8350 TARGET 77.1000 SL 76.4500.

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