Daily Market Reflection

28th September 2016

Market Outlook

USDINR

The Rupee firmed up by 11 paise to 66.50 against the dollar in early

trade today, maintaining its upward trend for the fourth straight day
on sustained selling of the US currency by exporters and banks
amid a higher opening in the domestic equity market. Weakness in
the dollar against other currencies overseas supported the rupee.
The Mexican peso rose 2 percent on Tuesday, recovering from
record lows against the U.S. dollar, buoyed by a view that
Democratic presidential candidate Hillary Clinton did better than
rival Donald Trump in a television debate.
Fundamental News
Asia FX up as Clinton judged winner in debate; rupiah at
17-mth high.
UK Retail sales fall, but growth expected to return next
month.
German Import prices in August 2016: 2.6% on August
2015.
Monetary developments in the euro area increased to 5.1%
Currency
Future2016, from 4.9% in July.
in August
Currency
Date
Date
% Chg

26-09-16

27-09-16

USDINR

66.6475

66.5000

-0.22%

EURINR

74.9575

74.7550

-0.27%

GBPINR

86.2400

86.2475

+0.01%

JPYINR

66.3450

66.2000

-0.22%

Event Calendar (28th September 2016)

Time
Currency Event
11:30 am

EUR

6:00 pm

USD

6:00 pm

USD

7:30 pm

USD

7:40pm

USD

8:00pm

USD

Forecast

Previou
s

GfK German Consumer

Climate
Core Durable Goods
Orders m/m
Durable Goods Orders
m/m

10.2

10.2

-0.5%

-1.3%

-1.0%

4.4%

Fed Chair Yellen Testifies

FOMC Member Bullard

Speaks
ECB President Draghi
Speaks

Reference Rate
Currency Date
26-09-16
USDINR
66.7095
EURINR
74.8814
GBPINR
86.4689
JPYINR
66.1300

Date
27-09-16
66.4627
74.7373
86.3417
65.8400

%
Change
-0.36%
-0.19%
-0.14%
-0.43%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.4700

Prev
Close

%
Chg

66.6125

Dollar Index

95.2300

95.2100

Euro

1.1247

1.1243

0.21%
+0.02
%
+0.03
%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1337.0 1334.84
+0.16%
4
Silver
19.42
19.41
+0.05%
Crude
45.29
45.88
-1.28%
Copper
2.1713 2.1753
-0.18%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
26/09 GBPINR 86.500
0
Trifid special
Date Currenc Entry
y
23/0 GBPINR 87.150
9
0

Exit

P/L

86.260
0

4800

Exit

P/L

86.850
0

12000

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Overview
USDINR

EURINR

USDINR continued the bear rally and surpassed the key

support levels on daily chart.

EURINR has been moving in a specific range of key

supports and resistance on daily chart.

The pair may drop down further if it holds below the level
of 66.5000 where next crucial support is 66.1500. On
higher side, 66.6000-66.8000 is seen as resistance range.

On higher side, 100 day EMA of 75.1000 is not allowing

to give positive breakouts while 74.6500 is acting as
strong support on lower side.

R1
66.6000

R1

R2

S1

S2

74.9000

75.1000

74.6000

74.4000

R2
66.7000

S1
66.4000

S2
66.3000

GBPINR

JPYINR

GBPINR remained on lower side for the whole session

and finally settled on a flat note.

JPYINR opened gap down but rose above the intraday

opening in the later half of the session.

Sell offs are expected to continue till it sustains below

86.3800 and 86.0000 may act as psychological support.
On higher side, 87.0000 will be seen as immediate
resistance.

It managed to close above 66.0000 mark which indicates

that the pair is finding support at lower side. Major
resistance is seen around 66.7000 while 65.8000 is
support.

R1
86.4000

R1
66.3000

R2
86.6000

S1
86.1000

S2
85.9000

R2
66.5000

S1
66.0000

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S2
65.8000

Intraday Super Star

(Premium Section)

JPYINR found strong support at lower levels and rose towards resistance levels. It may continue the pull back so shown
in the coming session as well.
BUY ABOVE 66.2325 TARGETS 66.3525/66.4725 SL 66.0325.

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Trifid Special
(Premium Section)

EURINR took strong support around the up sloping trend line as shown in the daily chart above and if it acts as a short
pull back then it may lead towards the immediate resistance.
BUY ABOVE 74.8350 TARGET 75.1350 SL 74.3350.

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