NSE Currency Future Report: 7th November 2019

By: Admin
4834

Insignia Consultants

New Delhi

Thursday, 07 November 2019

TIME 9:22AM IST                          

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NSE CURRENCY FUTURE DAILY REPORT

Speculation of postpone of a US-China trade deal to December should result in a fundamental trade. US dollar has not sold off. This implies that incoming economic data releases will determine currency price movement. Better to remain on the sidelines for a week.

NSE CURERNCY FUTURE -- NOVEMBER FUTURE

US DOLLAR-INDIAN RUPEE Current Price

? 71.1625

S3

S2

S1

 

R1

R2

R3

? 70.5950

? 70.8788

? 71.0286

 

? 71.2964

? 71.4463

? 71.7300

EURO-INDIAN RUPEE Current Price

? 78.8150

S3

S2

S1

 

R1

R2

R3

? 78.2575

? 78.5363

? 78.6834

 

? 78.9466

? 79.0938

? 79.3725

UK POUND-INDIAN RUPEE Current Price

? 91.4000

S3

S2

S1

 

R1

R2

R3

? 90.8500

? 91.1250

? 91.2702

 

? 91.5298

? 91.6750

? 91.9500

JAPANESE YEN-INDIAN RUPEE Current Price

? 65.5350

S3

S2

S1

 

R1

R2

R3

? 65.0150

? 65.2750

? 65.4123

 

? 65.6577

? 65.7950

? 66.0550

All technical are for reference only

 

  1. USD/INR NOVEMBER 2019:  (a) Key resistance is at 71.2175. A break of 71.2175 will trigger another wave of rise to 71.3600 and 71.5325. (b) Sell off will be there only below 71.0175.
  2. EURO/INR NOVEMBER 2019:  (a) Key support is at 78.7100. (b) Euro/inr needs to trade over 78.7100 to rise to 79.3125 and 79.6500. (c) Crash will be there below 78.7100 to 78.2200.
  3. GBP/INR NOVEMBER 2019:  (a) Pound can rise to 91.7050 and 92.0225 as long as it trades over 91.1550. (b) Crash will be there only if cable trades below 91.4000.
  4. JPY/INR NOVEMBER 2019:  (a) It needs to trade over 65.3475 to rise to 65.9325 and 66.1225. (b) Crash will be there below 65.3475 to 65.1625 and 64.9675.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, 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. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Websitewww.insigniaconsultants.in. Prepared by Chintan Karnani

Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.

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NOTES TO THE ABOVE REPORT

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