Weekly Currency Trading for Cash Trading

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20 JULY 24 JULY 2015 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 M

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Transcript of Weekly Currency Trading for Cash Trading

  • 20 JULY 24 JULY 2015

    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

    M

  • REFERENCE RATE

    (USD) 63.4928

    REPO RATE 7.25%

    REVERSE REPO 6.25%

    CRR 4%

    INFLATION -2.36%

    KEY RATES As on 17/07/2015

    MARKET EVENTS MARKET OUTLOOK

    Indian Rupee witnessed volatility last

    week against the American currency

    as it moved in zigzag manner

    although hovered around its

    important support level. It is

    remarkable that rupee is not found

    to be vulnerable for the global issues

    as seen during the recent Greece

    crisis or Chinas melting economy ; it

    may be due to the fact that foreign

    exchange reserves are quiet

    adequate to fund the imports for

    several months. Regular flow of

    foreign capital inflows in Equity

    markets this week too supported in

    the appreciation of Rupee. While

    dollars gains against some

    currencies capped the rise in rupee.

    Forex cushion makes rupee

    more resilient to global

    shocks.

    China's GDP grew 7% on-year

    in the second quarter.

    Trade-weighted sterling at 7-

    1/2-year high, strongest run

    since 2010.

    Chinas Exports Rise in

    another Sign of Stabilizing

    Economy.

    CURRENCIES PREVIOUS

    RATE

    CURRENT

    RATE % CHANGE

    USDINR 63.5900 63.5575 -0.05

    EURINR 71.1425 69.1925 -2.74

    GBPINR 98.8400 99.1875 0.35

    JPYINR 51.9900 51.2475 -1.42

  • USDINR

    EURINR

    USDINR last week also consolidated around the same strong support of 63.5100 and closed the

    week on a flat note with slight negative bias. It needs to break this consolidation to move on

    either side as any closing below 63.5000 can drag it to lower levels while 63.8000 is seen as

    immediate resistance for the week.

    EURINR last week showed continuous bear rally and dragged surpassing the major support and

    closed with loss of approx 2.75%. On daily charts, double top pattern shows that if it sustains

    below 69.4000 then it may move towards the next important support of 68.2000. On higher side,

    70.2500-70.9000 is seen as immediate resistance range.

  • CURRENCIES S1 S2 S3 R1 R2 R3 USDINR 63.3000

    63.0000 62.7000 63.8000 64.2000 64.6000

    EURINR 68.7000 68.2000 67.7000 69.8000 70.3000 70.9000

    GBPINR 98.6000 97.7000 97.2000 99.7000 100.2000

    101.0000

    JPYINR 50.9000 50.6000 50.1000 51.6000

    52.0000 52.4000

    PIVOT TABLE

    DATE TIME COUNTRY EVENT BLOOMBERG

    ESTIMATE

    PREVIOUS

    LEVEL

    22-JULY-2015 7:30

    PM US

    Existing Home

    Sales 5.40m 5.35m

    23-JULY-2015 6:00

    PM US

    Unemployment

    Claims 285k 281k

    24-JULY-2015 7:15

    PM US

    Flash

    Manufacturing

    PMI

    53.7 53.6

    24-JULY-2015 7:30

    PM US New Home Sales 543k 546k

    INTERNATIONAL UPDATES

    UK Consumer Price Inflation was unchanged in the year to June

    2015.

    Retail Sales in U.S. Unexpectedly Fall on Broad-Based Retreat.

    US Unemployment Insurance Weekly Claims was 281,000, a

    decrease of 15,000 from the previous week.

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