Tuesday, 10 September 2019

Forex Report : 10th September 2019


CMP

usd/inr
usd/idr
euro/usd
gbp/usd
usd/jpy
CMP
71.7425
14034.00
1.1045
1.2340
107.43
S5
71.1750
13862.50
1.0870
1.2129
105.42
S4
71.3950
13915.00
1.0908
1.2187
106.17
S3
71.4700
13945.00
1.0950
1.2247
106.57
S2
71.6125
13981.00
1.0969
1.2280
106.92
S1
71.6950
14020.00
1.0992
1.2312
107.27






R1
71.8775
14059.60
1.1068
1.2373
107.67
R2
72.0250
14095.00
1.1091
1.2431
108.06
R3
72.1775
14130.40
1.1110
1.2478
108.42
R4
72.3525
14170.00
1.1152
1.2581
108.78
R5
72.5750
14245.00
1.1190
1.2676
109.03

CMP= Current price market price
ABOVE TECHNICALS ARE ONLY FOR REFERENCE
Brexit news will affect cable. Euro is steady. Traders are waiting for European central bank meeting on Thursday. After the ECB, currency market will position themselves for FOMC next week. Volatility will rise. Focus will be on economic data releases of every nation. Do not ignore bond yields. Indian markets are closed due to Islamic festival of “Moharram”. Rupiah is in a crucial seven trading session right now. If rupiah trades below 14020 till 19th September then ti will near 14000 and below in the immediate term.
Euro/usd and gbp/usd if they rise on or after the European central bank meeting on Thursday should see atleast five percent more before FOMC.

USD/INR: (a) Rupee needs to trade over 71.6925 to rise further. (b) Sell off till Friday will be there if rupee trades below 71.6925 to 71.5025 and 70.4425. (c) Key support till next week is at 71.5025.

USD/IDR: (a) Key weekly support is at 14020. (b) Rupiah will crash if it trades below 14020 to 13945 and 13900. (c) A daily close below 14020 today and continuously till Friday can result in 13825 and 13735 by next week. (d) Rupiah needs to trade over 14095-14110 zone for the rest of the week to rise further.
Euro/usd: (a) Euro needs to trade over 1.1020 till Thursday to rise to 1.1138-1.1264. (b) Small sell off will be there below 1.1020.
Gbp/usd: (a) Immediate support is at 1.2317. Key support is at 1.2234. (b) Cable needs to trade over 1.2234 till Friday to rise to 1.2527. (c) Sell off will be there below 1.2234.
Usd/jpy: (a) Key support is at 107.13. (b) Sell off will be there below 107.13 to 106.44 and 105.80. (c) However yen can rise to 108.18 as long as it trades over 106.90-107.13 zone.
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.
Follow us on Twitter @insigniaconsul1
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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