NSE Currency Futures Report : 21st Freruary 2019

Insignia Consultants

New Delhi

Thursday, February 21, 2019

TIME: 10:16 am IST        

         

NSE CURRENCY FUTURES DAILY REPORT

FOMC minutes failed to have any significant impact of the US dollar Index. I am more concerned over the pace of rise of crude oil in the short term as Brent crude oil shows no signs of falling. Higher crude oil prices and foreign investors being fence sitters will be a worry for the rupee in the short term.

Incoming US economic data releases will decide the trend of US dollar. Buy stop losses will be hit, if rupee gains more against the US dollar.

US dollar-Indian Rupee 26^th February 2019 future (usd/inr CMP 71.0125):

One Support: 70.9625
One Resistance: 71.1925

o      Small sell off will be there below 71.9625.

o      Usd/inr needs to trade over 71.1925 to rise further.

Euro/Indian Rupee 26^th February 2019 Futures (Euro/inr CMP 80.6400):
One Support: 80.5775
One Resistance: 80.7750

o      Small sell off will be there below 80.5775 and crash below 80.3825.

o      Euro/inr needs to trade over 80.7750 to rise further.

UK Pound/Indian Rupee 26^th February 2019 Futures (Gbp/inr CMP 92.6450):
One Support: 92.4225
One Resistance: 92.770

o      Gbp/inr can rise to 93.0225 by tomorrow as long as it trades over 92.4225.

o      Small sell off will be there below 92.4225

Japanese Yen/Indian Rupee 26^th February 2019 Futures (Jpy/inr CMP 64.1275):
One Support: 64.0475
One Resistance: 64.2900

o      Yen/inr needs to trade over 64.000-64.0475 zone to rise to 64.6050.

o      Small sell off will be there below 64.0450.

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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