NSE Currency Future Report: 4th February 2019
Monday, February 4, 2019
TIME: 9:43 am IST
NSE CURRENCY FUTURES DAILY REPORT
There is no big US economic data release this week. It will be technical trade. The more the rise the more will be short covering in usd/inr. Euro and pound if they are able to trade over current prices (against the rupee) till tomorrow will zoom. Brace for very high volatility this week. I am against going long in usd/inr.
US dollar-Indian Rupee 26th February 2019 future (usd/inr CMP 71.8325):
One Support: 71.5900
One Resistance: 71.9775
- 100% retracement is at 71.9775.
- Only a break of 71.9775 will result in 72.60.
- Bearish trend will be there below 71.5900 this week.
Euro/Indian Rupee 26th February 2019 Futures (Euro/inr CMP 82.3725):
One Support: 82.3350
One Resistance: 82.7925
- 100% retracement is at 82.7925.
- Only a break of 82.7925 will result in
- Small sell off will be there below 82.3350
UK Pound/Indian Rupee 26th February 2019 Futures (Gbp/inr CMP 93.9850):
One Support: 93.8975
One Resistance: 94.1500
- Key resistance is at 94.1500.
- There will be a technical breakout if gbp/inr trades over 94.1500 to 94.5175 and 94.8575.
- Small sell off will be there below 93.8975
Japanese Yen/Indian Rupee 26th February 2019 Futures (Jpy/inr CMP 65.6125):
One Support: 65.4175
One Resistance: 65.7675
- Yen/inr needs to trade over 65.5050 to rise to 65.8650 and 66.0250.
- Sellers will be there below 65.5250.
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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