FOREX TECHNICAL LEVELS: 6th June 2019

Insignia Consultants

New Delhi

Thursday, June 6, 2019

TIME: 8:45 am IST

         

FOREX TECHNICAL LEVELS

(inter-bank prices below)

US dollar did not fall despite a pathetic US May private ADP jobs numbers. European central bank meeting today and US May nonfarm payrolls are the key for the US dollar. Lower crude oil prices will result in gains for Asian currencies. Indonesia is closed today due to Eid vacations.

There is speculation that low inflation and slow growth can result in European central banks starting another round of monetary easing. Any clear indications of the same result in euro/usd tanking below 1.10.

CURRENCY SPOT TECHNICAL LEVELS
	EURO/USD	GBP/USD	USD/JPY
CMP	1.1230	1.2689	108.22
S5	1.1079	1.2554	107.53
S4	1.1115	1.2586	107.70
S3	1.1155	1.2622	107.88
S2	1.1172	1.2637	107.96
S1	1.1194	1.2657	108.06
R1	1.1266	1.2721	108.38
R2	1.1288	1.2741	108.48
R3	1.1306	1.2757	108.57
R4	1.1345	1.2792	108.74
R5	1.1381	1.2824	108.91
ALL PRICES VERSUS THE US DOLLARS ABOVE
CMP = Current Market Price
FOR SMALL TRADING/JOBBING PURPOSE
ABOVE TECHNICALS ARE ONLY FOR REFERENCE

Euro/usd: (a) Crash will be there below 1.1179 till tomorrow to 1.1129 and 1.1088. (b) In case euro/usd does not fall below 1.1179, then it will rise to 1.1280 and 1.1350.

Gbp/usd: (a) It needs to trade 1.2636 to rise to 1.2735 and 1.2834. (b) Crash will be there only below 1.2636

Usd/jpy: (a) Initial support is at 107.91 with 107.47 as the key support till Monday. (b) Crash till Monday will be there only below 107.47. (c) In case yen does not fall below 107.47 till Monday, then it will rise to 109.38 and 110.50.

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.