Forex Report for Exporters and Importers: 30th January 2019

Insignia Consultants

New Delhi

Wednesday, January 30, 2019

TIME: 10:15 am IST

DAILY FOREX REPORT FOR EXPORTERS AND IMPORTERS

(inter-bank prices below)

One needs to look for signs in cable as a new brexit deal will be renegotiated. Euro is bullish. Various US jobs number till Friday and FOMC tonight is keeping traders on the edge. There can be periods of consolidation followed by sudden knee jerk one way moves.

India

Interim budget on Friday will be the key. Only a fiscally responsible budget can result in gains for the rupee, else bearishness (against the US dollar) is intact.

US dollar-Indian Rupee (usd/inr CMP 71.2850):

One Support: 71.1550

One Resistance: 71.3950

  • Usd/inr can rise to 71.3950 and 71.5250 as long as it trades over 71.1550.
  • Small sell off will be there below 71.1550.
  • There can be very sharp two way moves.

Euro/Indian Rupee (Euro/inr CMP 81.5525):

One Support: 81.4850

One Resistance: 81.7650

  • Euro/inr can rise to 81.7650 and 82.2225 (by Monday) as long as it trades over 81.3500-81.4000 zone.
  • Small sell off will be there below 81.4850 today.

UK Pound/Indian Rupee (Gbp/inr CMP 93.3000):

One Support: 93.2450

One Resistance: 93.6050

  • Gbp/inr can fall to 93.0950 as long as it trades below 93.5550.
  • Corrections upto 92.80-92.90 will be a part of the bullish trend.

Japanese Yen/Indian Rupee (Jpy/inr CMP 65.1800):

One Support: 65.0975

One Resistance: 65.3300

  • A break of 65.3300 will result in 65.5600 and 65.7200.
  • Small sell off will be there below 65.0975

Euro/US dollar (euro/usd CMP 1.1442):

One Support: 1.1408

One Resistance: 1.1462

  • 1461 is the key resistance.
  • Euro/usd can rise to 1556 as long as it trades over 1.1396-1.1408 zone.
  • Small sell off will be there below 1.1408.

UK Pound/US dollar (gbp/usd CMP 1.3090):

One Support: 1.3066

One Resistance: 1.3141

  • Small sell off will be there below 1.3066.
  • Cable needs to trade over 1.3100-1.3110 zone to rise further.

US dollar/Japanese Yen (usd/jpy CMP 109.36):

One Support: 108.88

One Resistance: 109.62

  • Small sell off will be there below 108.88.
  • Yen needs to trade over 109.60 to rise further.

US dollar/Indonesia Rupiah (usd/idr CMP 14122.50):

One Support: 14089.50

One Resistance: 14156.50

  • Quick rise will be there if rupiah trades over 14130 to 14189 and 14250.
  • Small sell off will be there below 14089.50.
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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