Friday, 27 March 2015

Currency View for 27 March 2015







Dollar/rupee to a one-week high Thursday as public-sector banks were buying dollars on behalf of oil importers.


Technical Review USDINR APRIL FUT

USDINR settled up by 0.45% at 62.6975 levels and tested 62.7975 levels yesterday. Today, March future expiry related volatility could be expected in USDINR.

In April Future near term resistance is at 63.30 levels and a break above it could result in positive move towards 63.45-63.66 levels, else pair may consolidate at 63.00 again.

Recommendation/ View :

Buy April Future above 63.30 with stop loss 63.15.

Or

Risky traders can sell around 63.22-63.20 for Target 63.00 and below with stop loss above 63.32


After posting more than 60% gain, Euro fell sharply on Thursday amid continued instability in Greece and strong economic data in the U.S.


Technical Review: EURINR APRIL FUT

EURINR continued to its bullish trend and buy strategy given around 68.52 was rocked with pair inched higher towards 69.3250 levels.

A high wave candle stick formation on EOD chart is indicating for trend reversal in days to come.

Further, EURINR will have to cross the immediate resistance of 69.80 for next positive move.

Recommendation/ View:

Sell around 68.88-68.90 Target 68.70-68.50 with stop loss above 69.05.





GBP (    April Future)

Succinct Summary of Previous Day

GBPINR open down at 93.99 Vs previous close of 94.3675 levels and trading at 93.77 levels.

Yesterday, Pair rose to a two-week high Thursday after upbeat retail sales in the UK signaled that growth being on an upward trajectory, would strengthen the case for Bank of England to normalize its monetary policy.

Technical Review

Near term resistance is seen at 94.05 sustain trade above only will expect to test 94.30 again.
Else short term correction towards 93.20 will expect during the day.


Recommendation :

Sell GBPINR around 93.80-93.85 Target 93.50-93.20 stop loss 94.00.



Japanese Yen snapped its gain in earlier trade on upbeat jobs data, CPI, retail sales disappoint

Yesterday, Yen jumped near to nine month high after Saudi Arabia launched airstrikes againstg the Houthi rebels in Yemen early Friday spurring demand for safe-haven assets amid a globally weak dollar after weak US data.

Technical Review JPYINR APRIL Future

JPYINR witnessed longest winning streak in two month and settled with a gain of 1.16% at 52.8350 levels.

Today, a break above 53.10 in April Future could result in positive move towards 53.40-53.60 and above levels else correction will expect for downside target of 52.70-52.50 levels.

Recommendation/ View :

Sell 53.00-52.98 Target 52.70-52.50 with stop loss above 53.10

Or
Buy April Future above 53.10 Target 53.40-53.60 with stop loss 52.95.







Major Economic Data & Events Schedule today

Time
Currency
Economic Indicators
Forecast
Previous
Possible Impact
12:30pm
EUR
German Import Prices m/m
0.50%
-0.80%
Positive

GBP
Nationwide HPI m/m
0.20%
-0.10%
Positive
1:30pm
GBP
MPC Member Haldane Speaks
-
-
-
2:15pm
GBP
BOE Gov Carney Speaks
-
-
Depends on Statement
2:45pm
GBP
MPC Member Broadbent Speaks
-
-
Depends on Statement
3:30pm
EUR
Italian Retail Sales m/m
0.10%
-0.20%
Positive
4:00pm
USD
FOMC Member Fischer Speaks
-
-
Depends on Statement
6:00pm
USD
Final GDP q/q
2.40%
2.20%
Positive

USD
Final GDP Price Index q/q
0.10%
0.10%
Neutral
7:30pm
USD
Revised UoM Consumer Sentiment
92.5
91.2
Positive

USD
Revised UoM Inflation Expectations
-
3.00%
-
                                                   
Impact: High Low Medium
 










More will Update soon..

Thought for the day







 







Thursday, 26 March 2015

Just update on Bullion, Base Metal and Energy







Toneeeeeeeees of money minted in last two trading sessions.... Hope you all enjoyed a lot


Image result for blast



Have a look on it!!






Gold



Told to buy Gold around 26300 with stop loss of 26210. Flared like anything and hit 26708 mark.

Now what to expect???

Above 26236... our target intact 26972. Still looks positive and could test its resistance level of 26972 mark

Three consecutive closes + weekly close above 26972 will see sharp upside rally till 27462---27708 mark

Already booked part profit... Now revise stop loss of 26236. Intraday stop loss will be 26550



Silver


Told to buy Silver above 38000. Just made a high of 38639

Now what to expect???
 
Support at 38000 and Resistance at 38500

Two consecutive closes above 38500 will take to 39300---39800 and then to 40500+ mark in days to come

On Comex division... Two consecutive closes above $17.20 will see sharp upside move till $17.80---$18.20 and then to $18.80+ mark in days to come

Maintain stop loss of $16.85



Crude oil



Sent message to buy Crude oil around 2970 with stop loss of 2870. It skyrocketed and made a high of 3279

Now what to expect???

Three consecutive closes + weekly close above 3180 will see sharp upside rally till 3500---3600+ mark

In panic will buy... Stop loss 3090 on closing basis



Copper



Holding long... From which level???

Now able to breach 381 and bounced back.... Two consecutive closes + weekly close above 390 will take to 398---404 and then to ???

In panic will buy.. Stop loss remain same of 381



We are holding long in Zinc and Lead too. Just trade with levels only and wait for conformation. Anything seems will update via SMS




































More will update soon...