Insignia Consultants
New Delhi
Friday, May 3, 2019
TIME: 9:50 am IST
FOREX TECHNICAL LEVELS
(inter-bank prices below)
Big moves in currency markets will be there
next week. China and Japan will be there next week. The big news is that Asian
finance leaders agreed to consider adding Chinese Yuan and Japanese Yen to
their multilateral currency swap deal. The move is aimed at ramping up the
firepower to deal with potential financial crisis. The long term purchasing
power of the US dollar continues to be under threat by this move. As it is more
and more central banks are increasing their gold reserves.
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CURRENCY SPOT TECHNICAL LEVELS
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EURO/USD
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GBP/USD
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USD/JPY
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USD/IDR
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CMP
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1.1174
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1.3039
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111.47
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14277.50
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S5
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1.1051
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1.2835
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110.63
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14,145.00
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S4
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1.1081
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1.2882
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110.83
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14,170.20
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S3
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1.1113
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1.2934
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111.06
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14,197.50
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S2
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1.1127
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1.2957
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111.16
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14,209.89
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S1
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1.1145
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1.2986
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111.28
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14,225.22
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R1
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1.1203
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1.3078
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111.68
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14,290.10
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R2
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1.1221
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1.3107
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111.80
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14,302.50
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R3
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1.1236
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1.3131
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111.91
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14,329.80
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R4
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1.1267
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1.3182
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112.13
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14,355.00
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R5
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1.1297
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1.3229
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112.33
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14,401.00
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ALL PRICES VERSUS THE US DOLLARS ABOVE
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CMP = Current Market Price
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FOR SMALL TRADING/JOBBING PURPOSE
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ABOVE TECHNICALS ARE ONLY FOR REFERENCE
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Euro/usd: Only a break of 1.1218 will
trigger a rise to 1.1314. Sell off will be there only below 1.1139.
Gbp/usd: 100 day moving average around
1.3046 is the key price to watch. Cable can rise to 1.3300 by next week if it
manages to trade over 1.3046. On the lower side as long 200 day moving average
of 1.2968 holds, downside risk will be limited.
Usd/Idr: 100 day moving average at 14182
is the key resistance. Rupiah can rise to 14355 and 14400 as long as it trades
over 14182. Key resistance till next week is at 14415.
Usd/jpy: 200day moving average is at
111.59 is the key price to watch.
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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