NSE Currency Futures Report : 13th June 2019

Insignia Consultants

New Delhi

Thursday, June 13, 2019

TIME: 9:04 am IST

         

NSE CURRENCY FUTURES REPORT

The recent range trade in usd/inr will be broken soon and a new range will be there. Traders will start taking positions for next week’s FOMC meet. So far so good for yen. The rest test begins now for jpy/inr as it needs to trade over 63.80 21^st June to target 65.50 and 67.00 zone. Big eight days for all currencies and not just for the yen. A bad trade and you will be busted. Low risk traders buy at market and sell/exit at market. Others use higher stop losses.

There is hope that the budget will induce higher consumer demand and higher employment. I just hope Modi 2.0 lives upto people’s expectation. Indian rupee (usd/inr) July futures will sharply gain if budget meets high hopes of the masses. Take a chance and buy some put options in usd/inr. As usual global risk is always there.

CURRENCY SPOT TECHNICAL LEVELS
	USD/INR JUNE	EURO/INR JUNE	GBP/INR JUNE	JPY/INR JUNE
CMP	69.4250	78.5150	88.2150	64.1175
S5	69.0200	78.1750	87.7200	63.8450
S4	69.1172	78.2566	87.8388	63.9104
S3	69.2225	78.3450	87.9675	63.9813
S2	69.2703	78.3851	88.0259	64.0134
S1	69.3294	78.4348	88.0982	64.0532
R1	69.5206	78.5952	88.3318	64.1818
R2	69.5797	78.6449	88.4041	64.2216
R3	69.6275	78.6850	88.4625	64.2538
R4	69.7328	78.7734	88.5912	64.3246
R5	69.8300	78.8550	88.7100	64.3900
ALL PRICES VERSUS THE INDIAN RUPEE ABOVE
CMP = Current Market Price
FOR SMALL TRADING/JOBBING PURPOSE
ABOVE TECHNICALS ARE ONLY FOR REFERENCE

EURO/INR: It needs to trade over 78.5800 till tomorrow to rise to 78.8500 and 79.2350.

GBP/INR: Cable can rise to 88.6975 and 89.0000 by next week as long as it trades over 87.7200. Momentum is very bearish on brexit uncertainty.

JPY/INR: There is massive technical congestion between 64.50-64.82 zone. It will not be easy for jpy/inr to break this zone. Sell off will be there if 64.50-64.82 zone is not broken by 21^st June.

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
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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)

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