Daily Market Reflection

24th May 2016

Market Outlook

For Intraday Superstar & Trifid Special

Indian Rupee appreciated against dollar in early session on back of firm

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cues from other Asian currencies but rebounded during the session and
finally closed on flat note.

USDINR

Japans trade surplus widened in April as exports and imports both

declined sharply, underscoring ongoing challenges for the worlds third
largest economy. Japanese exports declined 10.1% annually in April,
Reference Rate

much worse than Marchs 6.8% year-over-year decline, government

data showed on Monday.

Currency

Fundamental
, government News
data showed on Monday.

Asian currencies firmer, await clues on timing of Fed move.

Dollar falls vs yen after Japan logs larger-than-expected

trade surplus.

Eurozone flash PMI edges down to 16-month low.

French private sector output growth quickens to seven-

Date
Date
20-05-16 23-05-16
67.4076
67.3492
75.5437
75.6197
98.4555
97.7641
61.1700
61.3800

USDINR
EURINR
GBPINR
JPYINR

Currencies vs $
Currency

month high.
Rupee
Dollar Index
Euro
Pound
Japanese Yen

Currency Future
Currency

Date

Date

20-05-16

23-05-16

USDINR

67.5625

67.5700

+0.01%

EURINR

75.8300

75.8075

-0.03%

GBPINR

98.4500

97.7925

-0.67%

JPYINR

61.2400

61.7900

+0.90%

% Chg

Currency

11:30am

EUR

2:00pm

GBP

2:30pm

EUR

2:30pm

EUR

2:30pm
All Day

Event
German Final GDP q/q

Forecast

Previous

0.7%

0.7%

6.3B

4.2B

12.1

11.2

ZEW Economic Sentiment

23.4

21.5

GBP

Inflation Report Hearings

EUR

Eurogroup Meetings

Public Sector Net

Borrowing
German ZEW Economic
Sentiment

Close
(5:00pm)
67.4450
95.3800
1.1204
1.4468
109.52

Prev
Close
67.4463
95.3400
1.1235
1.4522
109.84

% Chg
-0.01%
+0.04%
-0.27%
-0.37%
-0.29%

Global Commodities

Event Calendar (24th May 2016)

Time

%
Change
-0.08%
+0.10%
-0.70%
+0.34%

Commodity
Gold
Silver
Crude
Copper

Close
1254.32
16.34
47.76
2.0385

Prev.Close
1250.25
16.49
48.14
2.0517

% Chg
+0.32%
-0.90%
-0.78%
-0.64%

Our Previous calls update

Intraday super star
Date
Currency Entry
Exit
P/L
23/05 GBPINR 98.2000 97.8800 6400
Trifid special
Date Currency Entry
Exit
P/L
10/05 GBPINR 96.5700 97.0700 20000
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Overview
USDINR

EURINR

USDINR opened weak from previous close but Rupee

EURINR traded on weak note for first half of the session but

depreciated and gradually dropped to close the pair on flat

then gained momentum from bottom levels to close on flat.

note.
Now, 67.8000 is seen as strict resistance ahead while 67.3000

The pair is trading near to important level of 76.0000 and is

expected to surpass it and trade higher any closing below

may act as support from current levels.

75.5000 can be a weak sign for it.

R1
67.7000

R2
67.9000

S1
67.3000

S2
67.1000

R1

R2

S1

S2

75.9000

76.1000

75.5000

75.3000

GBPINR

JPYINR

GBPINR opened weak and was unable to sustain on higher

JPYINR showed a bull rally during the session and closed

side and finally ended the sideways intraday session in red

higher crossing the immediate resistance mark.

territory.

On daily charts, it is able to close above the strict resistance

On higher side, 98.0000-98.2000 may act as resistance range

of 61.7000 which intends to take the pair higher while

while 100 day EMA of 97.1600 is seen as support.

61.4000 may act as near term support.

R1
98.0000

R1
61.9000

R2
98.2000

S1
97.5000

S2
97.3000

R2
62.1000

S1
61.5000

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S2
61.3000

Intraday Super Star

(Premium Section)

Currency is able to find constant support around lower levels and closed higher which indicates that buying momentum may
continue towards higher levels.
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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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