NSE Currency Future Report: 12th February 2020

By: Admin
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Insignia Consultants

New Delhi

Wednesday, 12 February 2020

TIME 12:09 PM IST                            

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NSE CURRENCY FUTURE REPORT

US dollar has been gaining the major currencies as a safe haven against the Chinese corona virus. Everyone is just assessing the impact of virus on global economy. Euro/inr and gbp/inr will rise sharply if and when fears of corona virus recede. Pound may have formed a short term bottom yesterday’s low of 91.7500.

No one knows the impact of economic news on currency markets. Right now sentiment is very bullish for the US dollar.

  1. USD/INR 26th FEBRUARY 2020 Current price 71.3425:  (a) Rupee needs to trade over 71.2075 to rise to 71.4550 and 71.5350. (b) Crash or sell off will be there below 71.2075 to 71.1325 and 71.0025.
  2. EURO/INR 26th FEBRUARY 2020 Current price 77.9300:  (a) Crash or sell off will be there if euro/inr trades below 77.8325 to 77.4850. (b) Euro/inr needs to trade over 77.9850 till tomorrow to be in bullish zone.
  3. GBP/INR 26TH FEBRUARY 2020 Current price 92.4950:  (a) A break of 92.6000 will trigger another wave of rise to 93.1400. (b) Overall trend is bullish as long as gbp/inr trades over 92.3175. (c) Sellers will be there below 92.3175.
  4. JPY/INR 26TH FEBRUARY 2020 Current price 65.0200:  (a) Yen/inr needs to trade over 64.8550 till Friday to rise to 65.9300. (b) Crash or sell off will be there only below 64.8550 to 64.4700 and 64.0900.

 

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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