1. 15th Sept 2014 Currency Highlights
USDINR
USDINR Technical View:
USDINR below hourly chart shows the failure of prices to stay above the yesterday’s high giving a trend to change.
Price Pattern: USDINR prices have typically failed to stay above its previous high now making the lower high and lower low formation which is bearish price pattern. As if now the prices of USDINR pair to continue in the same formation we will be soon heading to 60.50 levels if the above mentioned pattern remains intact.
Moving Average: Compare to the 50 EMA the 20 EMA on the hourly basis provide us the early indication of the short term trend. As we can now clearly see in the hourly chart now the trend has reverse to down .So as long as the prices are trading below the 20 EMA we expected rupee to appreciate against dollar.
RSI : The RSI on the hourly chart breaks the mid-range level 50 with losing momentum which typically confirms the short term trend is down as RSI values are now approaching the over sold levels.
Candlestick : On the hourly chart the yesterday’s trading session high is associated with “bearish engulfing” pattern which show how the USDINR have completely reversed its trend for a short term its high 61.21 will be now the upper resistance level if price shows any bounce back.
ADX : The ADX has approached its lower vales as prices on the intraday basis where to continue in down to side ways fashion. But if prices fails to sustains ADX will be a indicator of new short term down trend to be continue in the pair.
Economic Indicators Date Time Data Prior Expected Impact
15.09.14
06:00 PM Empire State Manufacturing Index
14.7
Actual>Expected=Good for USD
15.09.14
06:45 PM Capacity Utilization Rate
79.2%
Actual>Expected=Good for USD
15.09.14
06:45 PM Industrial Production m/m
0.4%
Actual>Expected=Good for USD
2. 15th Sept 2014 Currency Highlights
EURINR
EURINR Technical View:
The EURINR below hourly chart with prices now trading at sideways mode.
Price Pattern : On the hourly the EURINR prices falls in the similar line with USDINR with its hourly chart pattern formation is a sideways pattern if any further breaking the yesterday’s low 78.70 EURINR will be ready to fill its down gap for the next intermediate target of 78.40 else any bounce from this level will pull it back toward 79.10 and higher levels.
Moving Average: The prices of the EURINR are now trading in a sideways range where the short term 20 EMA on the hourly basis confirms the same. As seen in the chart prices are now trading below the 20 EMA which inputs the intraday trend will be down for the pair if only prices starts trading above the 20 EMA will push EURINR to higher levels.
RSI: The RSI now is acting with tandem with price as now near the oversold region .The only prices to protect the low with RSI will gain the momentum pushing it to higher levels else RSI will be heading towards the over sold region with prices to fill the gap.
ADX : The ADX as shown in the hourly chart is completely losing its momentum as the prices of the EURINR are now in the sideways mode. But it’s a typical characteristics of RSI that it will be turning soon up with prices either with uptrend or down trend in EURINR.
Economic Indicators Date Time Data Prior Expected Impact
15.09.14
2:30 PM Trade Balance
13.8B
Actual>Expected=Good for EUR
3. 15th Sept 2014 Currency Highlights
GBPINR
GBPINR Technical View:
The below is the hourly chart of GBPINR with prices are now showing a early weakness if today the prices starts trading below the yesterday’s low of 98.7600
Moving Average : The short term trend decider 20 EMA is acting very good signal for knowing the short term trend. Now if the prices starts trading below the 20 EMA as of now they are GBPINR will enter for a sharp correction to fill its down gap or else any up move which bring the prices back above the 20 EMA on hourly basis GBPNR wil breaks its recent high 99.37.
RSI : RSI on the hourly chart is now has turned down from the over brought region with RSI losing its strength. Other major concern is the RSI on the hourly chart is below the mid – range level 50 with prices at crucial level if fails to sustains higher RSI will sooner approach its lower level with prices to fall.
ADX : The ADX is now showing the trading nature of GBPINR will soon follow to get to trending move in GBPINR as the values of ADX starts getting on to higher value on hourly basis if it fails to sustain above 25 level on hourly basis the GBPINR will enter the sideways trend.
Economic Indicators Date Time Data Prior Expected Impact
15.09.14
4:31 AM Right move HPI m/m
-2.9%
Actual>Expected=Good for GBP
4. 15th Sept 2014 Currency Highlights
JPYINR
JPYINR Technical View:
The below is the hourly chart of JPYINR with prices now are much lower values which shows its inter market relationship with USDJPY pair where Japanese yen is in depreciation.
Moving Average : In below hourly chart prices of JPYINR are trading well below the 20 EMA which suggest the strong down trend in the pair continues with a strong appreciation of rupee against yen.
RSI : RSI have successively failed with losing momentum as the prices are now making new low. On the below hourly chart RSI has successively failed to stay above the mid-range levels 50 showing the downtrend is in no mood to reverse.
ADX : The ADX is just bottoming out from its lower levels showing a strong trend continuing in the JPYINR. If any change of trend comes we expected the ADX values will be in a tight range for JPYINR to enter a sideways trend .
Economic Indicators Date Time Data Prior Expected Impact
15.09.14
No Data for JPY Today
6. 15th Sept 2014 Currency Highlights
Disclaimer
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