FOMC statement is something which has been discounted by the markets. Interest rate hike will be there by the Federal Reserve this year, but increase global risks can change the outlook. Next in line is the US January private ADP numbers and US January nonfarm payrolls next week. Further gains of the US dollar against the euro and cable will be dependent on the ability to fall below and trade below this years low.
On the domestic side, it is action time for divestment with the Coal India and other in the pipeline. Inflows will not be an issue for now. The recent consolidation phase in US dollar –Indian Rupee will be broken soon and a new range will be formed. One needs to trade very carefully in Japanese yen as it poised for a very big one way move in the next two weeks. The recent 51.50-54.50 trading range will be broken in the next two weeks and a new range will be formed.
Usd/inr February 15 (expiry on 25th February 15):
Euro/inr February 15 (expiry on 25th February 15):
Gbp/Inr February 15 (expiry on 25th February 15):
Jpy/Inr February 15 (expiry on 25th February 15):
On the domestic side, it is action time for divestment with the Coal India and other in the pipeline. Inflows will not be an issue for now. The recent consolidation phase in US dollar –Indian Rupee will be broken soon and a new range will be formed. One needs to trade very carefully in Japanese yen as it poised for a very big one way move in the next two weeks. The recent 51.50-54.50 trading range will be broken in the next two weeks and a new range will be formed.
Usd/inr February 15 (expiry on 25th February 15):
- Jobbers aggressive buy over: 61.96 stop loss 61.86 for 62.12-62.42
- Jobbers aggressive sell below: 61.66 stop loss 61.7150 for 61.4950-61.2225
- Usd/inr needs to fall below 61.59 or break and trade over 62.03 for direction.
Euro/inr February 15 (expiry on 25th February 15):
- Jobbers aggressive buy over: 70.09 stop loss 69.88 for 70.2225 and 70.5675
- Jobbers aggressive sell below: 69.4950 (after 2pm IST) stop loss 69.6225 for 69.2225-69.0175
- Euro/inr needs to trade over 69.60 till next week to prevent another sell off. On the higher side only a break of 71.10 will attract short covering till next week.
Gbp/Inr February 15 (expiry on 25th February 15):
- Cable needs to trade over 93.2075 to prevent another sell off to 92.9975-92.4475. On the higher side only a break of 94.1225 will resume the intraday bullish zone.
Jpy/Inr February 15 (expiry on 25th February 15):
- Yen/inr can rise to 52.77 and 53.25 as long as it trades over 52.05.
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