Forex Report: 10th September 2019

By: Admin
2 weeks ago
2178

Insignia Consultants

New Delhi

Tuesday, September 10, 2019

TIME: 9:10 am IST        

FOREX REPORT

(inter-bank prices below)

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.

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

 

 

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.

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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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