8 October 2014
Trade Strategies:
Currency Strategies for the day
Currency
Strategy
Levels
Target
Stop-Loss
USD-INR
Sell
61.65-61.70
61.50
61.80
EUR-INR
Range
78.10-77.65
-
-
GBP-INR
Sell
99.15-99.20
98.60
99.45
JPY-INR
Sell
57.10-57.15
56.70
57.30
IRF-Oct
Range
100.90-101.25
-
-
Report By,
Vinod Maloo: Sr Research Analyst
[email protected]
+91 22 66242404
Emkay Global Financial Services Ltd.
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Currency Daily Technical Report
Daily Technical Report
C U R R E N C Y T E C H N I C AL R E P O R T
SPOT USDINR
USDINR- Daily Chart
SPOT USDINR prices are expected to have intraday resistance at 61.40 and
selling can be seen there. Prices on lower side can fall towards 61.15-61.20
and will again see buying interest. Prices should not move above 61.50 to
maintain the negative outlook for the day.
Currency
Technical Outlook for the day
USDINR
October USDINR prices are expected to have resistance at 61.65-61.70 and selling can be seen
there. Prices on lower side can fall towards 61.45-61.50 and again bounce can be seen there. Prices
should not move above 61.80 to maintain the negative outlook for the day.
EURINR
EURINR October prices are expected to have resistance at 78.10 and prices can remain sideways to
weak till trades below this. On lower side prices have support at 77.65 and fresh selling can be seen
below this and prices can extend fall towards 77.45.
JPYINR
GBPINR
EURUSD
GBPUSD
USDJPY
JPYINR October prices are expected to have resistance at 57.10 and selling can be seen there. On
lower side prices have support at 56.70 and 56.50. Prices should not move above 57.30 to maintain
the negative outlook for the day.
GBPINR October prices are expected to have resistance at 99.10 and prices are expected to travel
southwards and can test 98.50. Prices should not move above 99.50 to maintain the negative outlook
for the day.
EURUSD prices are expected to have intraday resistance at 1.2670-1.2680 and can witnessed selling
pressure. Prices on lower side can have support at 1.2550. Prices are expected to remain weak till
trades below 1.2730 in coming days.
GBPUSD Prices have intraday resistance at 1.6130 and as far as prices are trading below this level
prices can trade sideways to lower. Prices have intraday support at 1.5950. Only a sustained breakout
above 1.6100 can take prices further higher else prices can remain sideways to weak.
USDJPY prices are expected to have support at 107.9-108.0 and bounce can be seen there. Prices
on higher side can again face resistance at 108.8-109.0 and prices are expected to remain in this
range. Prices should not fall below 107.5 to maintain positive outlook for the day.
Emkay Global Financial Services Ltd.
8 October 2014
2
C U R R E N C Y T E C H N I C AL R E P O R T
Emkay Global Financial Services Ltd.
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Tel No. 6612 1212. Fax: 6612 1299
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8 October 2014
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