Forex Report: 13th August 2019

By: Admin
33037

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.

 

Forex Daily Technical Levels

 

usd/inr

usd/idr

euro/usd

gbp/usd

usd/jpy

CMP

71.2850

14279.50

1.1208

1.2076

105.35

S5

70.3550

13919.50

1.0984

1.1704

103.32

S4

70.5782

14005.90

1.1038

1.1793

103.81

S3

70.8200

14099.50

1.1096

1.1890

104.34

S2

70.9297

14141.98

1.1122

1.1934

104.57

S1

71.0655

14194.54

1.1155

1.1988

104.87

 

 

 

 

 

 

R1

71.5045

14364.46

1.1261

1.2164

105.83

R2

71.6403

14417.02

1.1294

1.2218

106.13

R3

71.7500

14459.50

1.1320

1.2262

106.37

R4

71.9918

14553.10

1.1378

1.2359

106.89

R5

72.2150

14639.50

1.1432

1.2448

107.38

 

CMP= Current price market price

ABOVE TECHNICALS ARE ONLY FOR REFERENCE

 

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.