NSE Currency Future Daily Report: 1st February 2019

Insignia Consultants

New Delhi

Friday, February 1, 2019

TIME: 9:59 am IST

NSE CURRENCY FUTURES DAILY REPORT

There can be sideways trading. All eyes will be on the short term impact of the interim budget. US January nonfarm payrolls will be the key today for the US dollar. 

US dollar-Indian Rupee 26th February 2019 future (usd/inr CMP 71.3100):

One Support: 71.1550

One Resistance: 71.34250

  • Small sell off will be there below 70.2750.
  • Crash or sell off will be there if rupee does not break 71.5000.
  • Better to remain on the sidelines today.

Euro/Indian Rupee 26th February 2019 Futures (Euro/inr CMP 81.7850):

One Support: 81.6650

One Resistance: 82.0225

  • Euro/inr has failed to trade over 82.0000 and can fall to 81.6650 and 81.3350 as long as it trades below 82.0000.
  • Small sell off will be there below 81.7225.
  • There can be very sharp two way moves.

UK Pound/Indian Rupee 26th February 2019 Futures (Gbp/inr CMP 93.4975):

One Support: 93.4225

One Resistance: 93.7675

  • Pound can rise to 93.7675 today as long as it trades over 93.3550-93.4050 zone.
  • Small sell off will be there below 93.4050.
  • Better not to leave any long positions in gbp/inr for Monday.

Japanese Yen/Indian Rupee 26th February 2019 Futures (Jpy/inr CMP 65.61000):

One Support: 65.3650

One Resistance: 65.7675

  • Yen/inr can rise to 66.000 by next week as long as it trades over 65.25-65.30 zone.
  • 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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