free advices for weekly currency market

5
18 AUGUST 22 AUGUST 2014 W E E K L Y R E P O R T Buy on fear, sell on greed. Buy on the rumor, sell on the news. The trend is your friend. Amateurs want to be right. Professionals want to make money. WWW.TRIFIDRESEARCH.CO M

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Page 1: Free Advices For Weekly Currency Market

18 AUGUST – 22 AUGUST 2014

W E E K L Y

R

E

P

O

R

T

Buy on fear, sell on greed.

Buy on the rumor, sell on the news.

The trend is your friend.

Amateurs want to be right.

Professionals want to make money.

WWW.TRIFIDRESEARCH.COM

Page 2: Free Advices For Weekly Currency Market

REFERENCE RATE

(USD) 61.0583

REPO RATE 8%

REVERSE REPO 7%

CRR 4%

INFLATION 5.19%

KEY RATES As on 14/08/2014

MARKET EVENTS MARKET OUTLOOK

Rupee rose 0.62% against dollar to

post its best weekly gain in three

months as recent geopolitical

concerns due to the turmoil in Iraq

and Ukraine also eased while

sentiments also benefited from

Brent crude falling to 13 month lows.

Although higher than expected

Indian consumer inflation and IIP

data resulted in fall in rupee on

Wednesday but broader losses were

capped as domestic shares managed

to edge higher on back of good

corporate results; emerging market

currencies were also subdued due to

weaker retail sales data from China.

Rupee ends day below 61

against US dollar, post weekly

gain in three months.

Yuan firms for 4th week

crosses 200-day moving

average.

Euro shrugs off disappointing

GDP data, data-hit dollar

helps.

CURRENCIES PREVIOUS

RATE

CURRENT

RATE % CHANGE

USDINR 61.4500 60.9100 -0.87

EURINR 82.3100 81.4950 -0.99

GBPINR 103.2675 101.6200 -1.59

JPYINR 60.2925 59.4975 -1.31

91

Page 3: Free Advices For Weekly Currency Market

USDINR

EURINR

USDINR last week found strict resistance near the trend line on daily charts and sharp selling was

seen in the last trading session. Now, if downfall continues then it may find support around the

trend line coming from lows i.e. around 60.6000 and closing below it may further result in selling

pressure. On other hand, resistance is seen in the range of 61.2000-61.5000.

EURINR last week showed steep downfall and closed with weekly loss of around 1%. On daily

charts, it is near to the trend line acting as support and closing below it may result in strong selling

pressure. Immediate support is seen near 80.7000. Any correction on higher side will find

resistance around 81.8000-82.0000.

Page 4: Free Advices For Weekly Currency Market

CURRENCIES S1 S2 S3 R1 R2 R3 USDINR 60.5000

60.2000 59.8000 61.3000 61.6000 62.0000

EURINR 81.1000 80.7000 80.2000 81.9000 82.3000 82.7000

GBPINR 101.3000 100.8000 100.4000 102.2000 102.7000

103.2000

JPYINR 59.2000 58.9000 58.4000 59.9000

60.2000 60.6000

PIVOT TABLE

DATE TIME COUNTRY EVENT BLOOMBERG

ESTIMATE

PREVIOUS

LEVEL

19-AUG-2014 6:00

PM US Building Permits 1.00M 0.97M

21-AUG-2014 6:00

PM US

Unemployment

Claims 299K 311k

21-AUG-2014 7:30

PM US

Existing Home

Sales 5.01M 5.04M

22-AUG-2014 7:30

PM US

Fed Chair Yellen

speaks _ _

INTERNATIONAL UPDATES

Pound hits 4-month low after BoE's dovish shift, euro eyes GDP

Yen Gains with Franc as Ukraine Reports Convoy Attack.

Canadian Dollar Hits 2-Week High as Jobs Report Revised.

Page 5: Free Advices For Weekly Currency Market

WWW.TRIFIDRESEARCH.COM

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