NSE Currency Futures Report : 25th January 2019

Insignia Consultants

New Delhi

Friday, January 25, 2019

TIME: 9:30 am IST

         

NSE CURRENCY FUTURES DAILY REPORT

Lack of negative news has resulted in rupee gaining against the US dollar. Next week is a big week. FOMC and lots of US economic data release can swing the US dollar Index either side. Budgetary expectation is driving the rupee and Indian bonds as well. Euro and yen are looking bearish at the moment while pound is bullish.

US dollar-Indian Rupee 29^th January 2019 future (usd/inr CMP 71.0600):

One Support: 70.9650
One Resistance: 71.1975

o      Small sell off will be there below 70.9650.

o      Crash or sell off will be there if rupee does not break 71.3225 by Monday.

o      Trend is down at the moment.

Euro/Indian Rupee 29^th January 2019 Futures (Euro/inr CMP 80.4950):
One Support: 80.3175
One Resistance: 80.6525

o      Small sell off will be there below 80.2150.

o      Key support is at 80.2150.

o      Another wave of rise will be there over 80.6525 only.

UK Pound/Indian Rupee 29^th January 2019 Futures (Gbp/inr CMP 93.1975):
One Support: 93.0950
One Resistance: 93.6200

o      Pound can rise to 93.6225 today as long as it trades over 93.0950.

o      Small sell off will be there below 93.0950.

Japanese Yen/Indian Rupee 29^th January 2019 Futures (Jpy/inr CMP 64.7225):
One Support: 64.5975
One Resistance: 64.8100

o      Crash or another wave of sell off will be there below 64.5975.

o      Yen/inr needs to trade over 64.8100 to rise further.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, crypto currency, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Prepared by Chintan Karnani

NOTES TO THE ABOVE REPORT

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED

Indian Standard Time (IST): +5:30 GMT

Current Market Price (CMP)

All foreign exchange prices are for inter-bank rates.

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