Daily Market Reflection

2nd May 2016

USDINR

Market Outlook
Rupee was trading flat for most part of the session but with positive bias
against dollar which finally helped rupee to gain in the last trading hour.
On global front, Japanese Yen continued to extend its gains as in the
previous session in the overnight trade which rose it to highest level in 18
months. On the other hand, dollar declined against all the major
currencies following the disappointing Q1 GDP data which revealed the
fact that worlds largest economy grew at an annualized pace of 0.5%
against expectations of 0.7%.

Reference Rate
Currency

Fundamental News

USDINR
EURINR
GBPINR
JPYINR

Yen hits 18-month peak, stays firm after BOJ skips easing.
China's yuan comes off early highs as state banks offer fewer
dollars.
GDP up by 0.6% in the euro area and by 0.5% in the EU28.
Euro area annual inflation down to -0.2%.
Italy Producer Price Index (MoM) increased to 0.2% in March
from previous -0.4%.

Currency
Rupee
Dollar Index
Euro
Pound
Japnese Yen

Date

Date

27-04-16

28-04-16

USDINR

66.8875

66.6775

-0.31%

EURINR

75.8900

75.9850

0.13%

GBPINR

97.2700

97.4700

0.21%

JPYINR

61.8150

62.1700

0.57%

% Chg

Currency

Event

Forecast

Previous

USD

FOMC Member Dudley

Speaks

12:45pm

EUR

Spanish Manufacturing PMI

53.0

53.4

1:15pm

EUR

Italian Manufac.PMI

54.1

53.5

7:15pm

USD

Final Manufacturing PMI

51.5

51.5

EUR

ECB President Draghi

Speaks
ISM Manufacturing PMI

51.6

51.8

4:45am

7:30pm
7:30pm

USD

%
Change
0.17%
0.40%
0.58%
1.04%

Close
(5:00pm)
66.3938
93.38
1.1402
1.4615
107.04

Prev
Close
66.5575
94.57
1.1388
1.4644
107.34

% Chg
-0.24%
-1.25%
0.12%
-0.19%
-0.27%

Global Commodities

Event Calendar (2nd May 2016)

Time

Date
29-04-16
66.5175
75.7303
96.8310
61.9600

Currencies vs $

Currency Future
Currency

Date
28-04-16
66.4045
75.4222
96.8310
61.3200

Commodity
Gold
Silver
Crude
Copper

Close
1279.00
17.81
46.46
2.2648

Prev.Close
1274.62
17.76
46.04
2.2328

% Chg
0.34%
0.28%
0.91%
1.43%

Our Previous calls update

Intraday super star
Date
Currency Entry
Exit
P/L
28/04 EURINR 76.0000 76.2400 9600
Trifid special
Date
Currency Entry
Exit
P/L
28/04 JPYINR
61.8600 62.2000 6800
For our next calls click here..

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Overview
USDINR

EURINR

USDINR after opening flat traded sideways for most part of the
session but rupee appreciated against the greenback in the last
trading hour and finally settled in weak zone.

EURINR opened gap up and was not able to sustain on higher

levels so strongly; however managed to close higher as per
previous close.

On daily charts, it is facing constant resistance on higher side

and so 67.000 is still seen as stiff resistance while 66.45000 is
the nearest support.

It is likely to face key resistance around 76.4000 while support

can be seen in the range of 75.7000-75.5000. Closing below
this support range can affect the pair in adverse way.

R1
66.9000

R1

R2

S1

S2

75.6000

75.4000

76.1000

76.3500

R2
67.1000

S1
66.5000

S2
66.3000

GBPINR

JPYINR

GBPINR opened on strong note but gradually dragged down

during the session but however was able to close higher as
compared to previous close.

JPYINR continued the gains so made in the previous session

and sustained higher crossing the strict resistance and
psychological level of 62.0000.

Now, the counter is facing stiff resistance around 98.0000

while 97.0000-96.9000 is seen as support range.

Now, strength can be seen till it holds above 62.0000 while

61.8000 can be seen as major support from current levels.

R1
97.7000

R1
62.4000

R2
98.0000

S1
97.3000

S2
97.0000

R2
62.70000

S1
62.0000

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S2
61.8000

Intraday Super Star

(Premium Section)

JPYINR continued the gains so made by the pair in previous session and Yen marked 18 months highs against the greenback. If
Japanese Yen continue to gain then buying sentiments can again be seen above 62.4100.
BUY ABOVE 61.4100 TARGETS 62.5500/62.7000 SL 61.2000.

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Trifid Special
(Premium Section)

EURINR sustained above the trend line so coming from highs as seen in the chart above. Now, if it is able to sustain higher then
bull can again become active above the immediate resistance mark.
BUY ABOVE 76.3600 TARGET 76.6100 SL 75.1000.

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