The document provides a technical analysis of currency pairs including USDINR, EURINR, GBPINR, JPYINR. It finds that USDINR and EURINR are in an uptrend supported by indicators such as breaking above trend lines, closing above moving averages, and positive RSI and MACD signals. GBPINR is also expected to trend up supported by moving average levels and indicators. JPYINR may trend up if it closes above its 50 EMA. Economic data from Germany, France, and Japan are also summarized that could impact the respective currency pairs.

1. 11th Sept 2014 Currency Highlights
USDINR
USDINR Technical View:
 USDINR below hourly chart is shown with beginning of the new uptrend in USDINR for next target of 61.50 level.
 Price Pattern: The major hourly trendline is break as the price have successfully closed above the trend line on hourly basis.
 Moving Average: The USDINR in yesterday’s trading session trade well above the 50 EMA on hourly basis as the short to intermediate trend is up for the pair
 RSI : The RSI is well above the mid -range level of 50 and now at over brought levels 70 so staying above the 70 over brought level on hourly basis will confirm the intermediate uptrend in a USDINR.
 ADX : ADX is now trending up with well above the 25 level as prices of USDINR with any up correction will be a buying opportunity.
 MACD: The MACD has made a positive crossover on hourly basis as the trend remains in the strong uptrend.
Economic Indicators Date Time Data Prior Expected Impact
11.09.14
06:00 PM Unemployment Claims
302K
306K
Actual>Expected=Good for USD
11.09.14
11:30 PM Federal Budget Balance -94.6B -132.8B
Actual>Expected=Good for USD

2. 11th Sept 2014 Currency Highlights
EURINR
EURINR Technical View:
 The EURINR below chart hourly chart with the breakout in price.
 Price Pattern : On the hourly the trend line is break with strong price action which confirm the major strength in E EURINR pair.
 Moving Average: In the yesterday’s trading session prices have traded and closed above the 50 EMA on hourly basis which clearly says the uptrend is intact.
 RSI: The RSI has risen with price action as which again confirm the uptrend in EURINR.
 MACD: The MACD has made a positive crossover on hourly chart which gives major support to our view of strong appreciation in EURINR.
Economic Indicators Date Time Data Prior Expected Impact
11.09.14
11:30 AM German Final CPI m/m
0.0%
0.0%
Actual>Expected=Good for EUR
11.09.14
12:15 PM French CPI m/m
-0.3%
0.4%
Actual>Expected=Good for EUR
11.09.14
Tentative Spanish HPI q/q -0.5%
Actual>Expected=Good for EUR

3. 11th Sept 2014 Currency Highlights
GBPINR
GBPINR Technical View:
 The below is the hourly chart of GBPINR with prices at major levels.
 Moving Average : The GBPINR prices has open gap up in yesterday’s trading session and staying above and closing above 50 EMA confirming the short term to intermediate trend is up.
 RSI : RSI on the hourly chart is taking support at mid-level 50 so its gives major support to our view of strong bullishness in GBPINR as shown in the hourly chart.
 MACD: On the hourly chart MACD has appositive crossover with giving strength to uptrend to continue in GBPINR.
Economic Indicators Date Time Data Prior Expected Impact
11.09.14
4:31 RICS House Price Balance
49%
47% More hawkish =Good for GBP

4. 11th Sept 2014 Currency Highlights
JPYINR
JPYINR Technical View:
 The below is the hourly chart of JPYINR with prices at important level
 Moving Average : In below hourly chart prices of JPYINR are now trading near 50 EMA with the strong uptrend in the other currencies we also expect the prices of JPYINR to trade above 50 EMA.
 RSI : RSI has risen from its oversold 30 level and now as it stays above the mid-level 50 it will be major change of trend in JPYINR.
 MACD : MACD on the hourly chart has made the positive crossover which suggest the uptrend will continues as prices of JPYINR will trade at higher levels.
Economic Indicators Date Time Data Prior Expected Impact
11.09.14
05:20 AM BSI Manufacturing Index
-13.9
-10.3
Actual>Expected=Good for JPY

5. 11th Sept 2014 Currency Highlights
Rohan Shinde (Research Associate) rohan.shinde@choiceindia.com
Deveya Gaglani (Research Advisor) deveya.gaglani@chocieindia.com
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6. 11th Sept 2014 Currency Highlights
Disclaimer
This is solely for information of clients of Choice India and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Choice India its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but Choice India or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology, price patterns and volume levels. It is used to forecast future price and market movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations issued by Choice India in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice India has based this document on information obtained from sources it believes to be reliable but which it has not independently verified; Choice India makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without notice. The information and any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee against the loss of your entire investment.
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