Daily Market Reflection

27th May 2016

Market Outlook

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Indian currency appreciated for the second consecutive session against

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US Dollar and was able to sustain on higher side and finally closed on

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positive note. Market sentiment looked somewhat mixed again as

despite a corrective move on the dollar and further gains on the oil

USDINR

price has driven some strong moves on equities in recent days. The
dollar weakness comes as traders look ahead to the announcement of
key US data to end the week and the prospect of Yellen speech that

Reference Rate

could define trading for the coming weeks.

Currency

Date
Date
25-05-16 26-05-16
67.4467
67.2855
75.2098
75.2185
98.5599
98.9501
61.3200
61.3400

Fundamental News
USDINR
EURINR
GBPINR
JPYINR

Dollar's retreat supports Asia FX, Yellen awaited.

Yen soars as markets jumpy over intervention risks, tax
decision.
Sri Lankan rupee forwards trade weaker on importer dollar
demand.
UK Index of Services (3M/3M) in line with forecasts (0.6%).

Currencies vs $
Currency
Rupee
Dollar Index
Euro
Pound
Japanese Yen

Currency Future
Currency

Date

Date

25-05-16

26-05-16

USDINR

67.4250

67.1700

-0.38%

EURINR

75.1725

75.1500

-0.03%

GBPINR

98.9525

98.7000

-0.26%

JPYINR

61.1750

61.0800

-0.16%

% Chg

Currency

Event

Forecast

Close
(5:00pm)
67.1775
95.2500
1.1175
1.4697
110.05

Prev
Close
67.3350
95.4100
1.1181
1.4710
109.70

% Chg
-0.23%
-0.16%
-0.05%
-0.08%
+0.31%

Global Commodities

Event Calendar (27th May 2016)

Time

%
Change
-0.23%
+0.11%
+0.39%
+0.03%

Previous

4:35am

GBP

GfK Consumer
Confidence

-4

-3

5:00pm

JPY

Tokyo Core CPI y/y

-0.4%

-0.3%

Day 2

ALL

G7 Meetings

6:00pm

USD

Prelim GDP q/q

0.8%

0.5%

7:30pm

USD

Revised UoM Consumer

Sentiment

95.7

95.8

10:45pm

USD

Fed Chair Yellen Speaks

Commodity
Gold
Silver
Crude
Copper

Close
1220.89
16.19
49.21
2.0705

Prev.Close
1228.51
16.27
49.27
2.0765

% Chg
-0.62%
-0.49%
-0.12%
-0.28%

OUR PREVIOUS CALLS UPDATE

Intraday super star
Date
Currency Entry
Exit
P/L
26/05 EURINR 75.1500 75.1500 Trifid special
Date Currency Entry
Exit
P/L
10/05 GBPINR 96.5700 97.0700 20000
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Overview
USDINR

EURINR

USDINR extended the bears so seen in the previous session

EURINR remained lower for the second consecutive session

and closed in red for the second consecutive session.

and closed again in red.

Now, it is expected to fall towards 100 day EMA of 67.0000

Trend line breakout on daily charts suggests it may further

which is also near to the trend line coming from recent lows
while 67.4000 may act as strict resistance.

fall towards 100 day EMA of 74.9500 while 75.5000 will act
as important resistance.

R1
67.3000

R1

R2

S1

S2

75.4000

75.6000

75.0000

74.8000

R2
67.5000

S1
67.0000

S2
66.8000

GBPINR

JPYINR

GBPINR was unable to hold above 99.0000 mark and

JPYINR gradually dropped from the recent highs so made

dropped during the session to close on weak note.

and now closed near to the strong support of 61.0000.

Trend of the pair seems to be strong so buy on dips can be

Any closing below 60.9000 can welcome bears for coming

seen where 99.2000 may act as resistance while 98.0000 is

sessions while sustaining above 61.3000-61.5000 will support

seen as major support from current levels.

recovery from current levels.

R1
99.0000

R2
99.2000

S1
98.6000

S2
98.4000

R1
61.3000

R2
61.5000

S1
60.9000

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S2
60.7000

Intraday Super Star

(Premium Section)

Currency extended the losses for the second successive session and is expected to fall towards the next support if it holds below
the mentioned level. Also, sell on highs is recommended in the same.
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Trifid Special
(Premium Section)

Currency is taking constant support at lower levels and intends to move northwards from such bottom levels. If it is able to
sustain above the trend line then it may show a short bull rally in coming sessions.
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