Insignia Consultants
New Delhi
Tuesday, August 13, 2019
TIME: 7:50 am IST
FOREX REPORT
(inter-bank prices below)
Yen and other safe havens will continue to rise
on Hongkong and Argentina issue. Bond market is not acting as a safe haven.
Gold, yen and swiss franc as acting as safe haven. Growth differential is
supporting the greenback. Volatility will rise as the week progresses.
Euro/usd and gbp/usd are highly oversold.
Momentum is hyper bearish. Over the course of the month, one needs to look for
signs of short covering in them.
India will open after a mini vacation. Spot
value date will shift to Friday as Thursday is once again a holiday. There will
short covering if rupee remains weak against the US dollar.
Rupiah medium term should gain against the US
dollar as Indonesian stock exchanges are expected to see a record number of
initial public offering (IPO). In the short term volatile.
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Forex Daily Technical Levels
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usd/inr
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usd/idr
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euro/usd
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gbp/usd
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usd/jpy
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CMP
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71.2850
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14279.50
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1.1208
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1.2076
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105.35
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S5
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70.3550
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13919.50
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1.0984
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1.1704
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103.32
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S4
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70.5782
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14005.90
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1.1038
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1.1793
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103.81
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S3
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70.8200
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14099.50
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1.1096
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1.1890
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104.34
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S2
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70.9297
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14141.98
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1.1122
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1.1934
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104.57
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S1
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71.0655
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14194.54
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1.1155
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1.1988
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104.87
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R1
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71.5045
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14364.46
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1.1261
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1.2164
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105.83
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R2
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71.6403
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14417.02
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1.1294
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1.2218
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106.13
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R3
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71.7500
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14459.50
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1.1320
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1.2262
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106.37
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R4
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71.9918
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14553.10
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1.1378
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1.2359
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106.89
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R5
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72.2150
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14639.50
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1.1432
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1.2448
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107.38
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CMP= Current price market price
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ABOVE TECHNICALS ARE ONLY FOR REFERENCE
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USD/INR: (a) It needs to trade over 70.9250 to rise to 71.4175 and
71.7475. (b) Sell off will be there below 70.9250.
USD/IDR: (a) Watch 14280. Rupiah can move 150-200 either side from
14280.
Euro/usd:
(a) Initial resistance is at 1.1235. A
break of 1.1235 will result in 1.1312. (b) Sell off will be there below 1.1165.
Gbp/usd: (a) Key support is at 1.1987. (b) Crash or another wave of
sell off will be there below 1.1987 to 1.1938 and 1.1890. (c) Cable can move
200-300 pips either side from 1.1987.
Usd/jpy: (a) Key support is at 104.80. (b) Sell off will be there below
104.80 to 103.89 and 102.99. (c) Yen needs to trade over 105.80 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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