1. 07th Nov’14 Currency Highlights
USDINR
USDINR Technical View:
USDINR Prices moved in a lower top lower bottom formation on 15 minutes timeframe while prices have taken resistance near 61.8 % retracement level of the down move from 61.81 – 61.54 levels.
Price Pattern: Prices have traded in downtrend in smaller timeframe where prices have taken resistance of the downtrend line drawn on hourly timeframe and moved lower.
MACD: On hourly timeframe MACD indicator is below 0 level which gives negative confirmation for prices.
RSI: On smaller timeframe, RSI has formed negative reversal which would add bearishness to the prices.
ADX: ADX on hourly chart is below 25 which indicate no clear trend in the prices.
Economic Indicators Date Time Data Prior Expected Impact
07.11.14
07:00 PM
Non-Farm Employment Change 248K
229K
Actual > Expected=Good for USD
07.11.14
07:00 PM
Unemployment Rate 6.8%
6.8%
Actual > Expected=Good for USD
07.11.14
07:00 PM
Average Hourly Earnings m/m 5.9% 5.9%
Actual > Expected=Good for USD
07.11.14
08:45 PM
Fed Chair Yellen Speaks
More Hawkish=Good for USD
2. 07th Nov’14 Currency Highlights
EURINR
EURINR Technical View:
EURINR Prices are trading in lower top lower bottom formation giving Dow Theory sell confirmation. Prices have given close near its previous intermediate low of 76.94 levels below which prices could face panic selling pressure.
Moving Average: Prices continues to trade below the 50 & 20 EMA’s on hourly timeframe which suggest the weakness in the prices.
MACD: MACD on daily, Hourly as well as on smaller timeframe below zero level which suggest weakness in prices. .
RSI: on Hourly timeframe, RSI has formed negative reversal while it is trading below 40 levels which indicate lack of momentum in prices.
ADX: ADX on hourly timeframe indicates trend on downside as it is above 25 level while –DI is above +DI.
Economic Indicators Date Time Data Prior Expected Impact
07.11.14
12:30 PM German Industrial Production m/m
-4.0%
2.1%
Actual > Expected=Good for EUR
07.11.14
12:30 PM German Trade Balance
17.5B
18.3B
Actual > Expected=Good for EUR
07.11.14
01:15 PM French Industrial Production m/m
0.0%
-0.1%
Actual > Expected=Good for EUR
07.11.14
01:15 PM French Gov Budget Balance
-94.1B
Actual > Expected=Good for EUR
07.11.14
01:15 PM French Trade Balance
-5.8B
-5.2B
Actual > Expected=Good for EUR
07.11.14
All Day ECOFIN Meetings
Effects EUR
3. 07th Nov’14 Currency Highlights
GBPINR
GBPINR Technical View:
GBPINR prices traded lower as expected. Bias remains bearish with no change in outlook.
Price Pattern: Prices have given close below descending triangle formation on hourly timeframe which could drift prices towards lower levels. .
Moving Average: Prices are trading below both the moving averages which gives negative confirmation for prices..
MACD: MACD indicator remains below zero level while MACD has given cross below signal line which is negative for prices.
RSI: The momentum indicator, RSI is in oversold zone which suggest lack of momentum in prices.
ADX: ADZ is above 25 while –DI is above +DI which indicates trend is down..
Economic Indicators Date Time Data Prior Expected Impact
07.11.14
03:00 PM Trade Balance
-9.1B
-9.4B
Actual > Expected=Good for GBP
4. 07th Nov’14 Currency Highlights
JPYINR
JPYINR Technical View:
JPYINR remains weak as it continues to trade lower with gap down opening from past few consecutive trading session..
Moving Average: Prices are trading below both the EMA’s which indicates trend remains down..
MACD: MACD remains below zero level..
RSI: RSI has taken resistance at 40 levels and moved lower which is bearish for prices.
ADX: ADX is above 25 which confirms the trend while –DI is above +DI which indicates downtrend is dominating.
Economic Indicators Date Time Data Prior Expected Impact
07.11.14
No Data for JPY Today
6. 07th Nov’14 Currency Highlights
Disclaimer
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