Currency highlights

16th Sept 2014 Currency Highlights
USDINR
USDINR Technical View:
 USDINR below hourly chart shows the change of trend up
 Price Pattern: USDINR prices on the yesterdays has given a strong breakout from its previous low of 60.85 level. As of now the intermediate trend for the pair has turned to uptrend.
 Moving Average: The intermediate trend has turned to up as the prices of USDINR strongly traded and closed above the 50 EMA.
 MACD: The MACD indicator has turned to buying trend as shown in the chart with a successive crossover on hourly basis.
 RSI: The RSI on the hourly chart is clearly well above the mid-range level 50 and holding the same any short correction in the pair will be a buying opportunity.
 Stochastic: The stochastic indicator has turned to buying mode on hourly basis which confirms the trend to remain bullish in the dollar for more upside to come.
 ADX: The ADX after flatting out has turned up and on the hourly basis is well above the trend level 20 confirm the uptrend to continue.
Economic Indicators Date Time Data Prior Expected Impact
16.09.14
06:00 PM PPI m/m
0.1%
0.1%
Actual>Expected=GoodforUSD
16.09.14
06:00 PM Core PPI m/m
0.2%
0.1%
Actual>Expected=Good for USD
16.09.14
06:30 PM TIC Long-Term Purchases
-18.7B
24.3B
Actual>Expected=Good for USD

EURINR
EURINR Technical View:
 The EURINR below hourly chart with prices giving a strong breakout
 Price Pattern: On the hourly the EURINR prices has give a strong breakout with prices staying well above the level change its trend to up.
 Moving Average: The prices of the EURINR has closed well above 50 EMA which confirms the trend remains up for pair with much higher levels to come in the coming days.
 MACD: The MACD indicator has given the bullish crossover with prices trading well above the major levels which add to confirmation of uptrend in the currency.
 RSI: The RSI after changing taking the support near the mid- range level 50 has turned as per the price movement to over brought levels for bullishness to hold in EURINR
 Stochastic: The stochastic indicator also falls in the similar line with the other indicator adding to confirmation of uptrend.
 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.
16.09.14
2:30 PM German ZEW Economic Sentiment
8.6
5.2
Actual>Expected=Good for EUR
16.09.14
2:30 PM ZEW Economic Sentiment
23.7
21.3
Actual>Expected=Good for EUR

GBPINR
GBPINR Technical View:
 The below is the hourly chart of GBPINR with prices are now showing strong uptrend.
 Moving Average: The intermediate trend decider 50 EMA on the hourly chart has confirms the trend has turned to bullish mode.
 MACD: The MACD indicator which remain bullish crossover on hourly basis turning the trend to remain up.
 RSI : RSI exactly took support at the mid-range level 50 and now approaching to over brought level for more steam for pair to trade at higher prices.
 Stochastic: The stochastic indicator to confirms the uptrend and now its at over brought level with any crossover in stochastic but above the mid – range level 50 will be a buying opportunity in the pound.
 ADX : The ADX is move close near to trend level 25 which indicates the uptrend is building in the pair prices to trade at much higher level.
16.09.14
2:00 PM CPI y/y
1.6%
1.5%
Actual>Expected=Good for GBP
16.09.14
2:00 PM PPI Input m/m
-1.6%
0.1%
16.09.14
2:00 PM RPI y/y
10.2%
10.6%
16.09.14
2:00 PM Core CPI y/y
-0.1%
-0.1%

JPYINR
JPYINR Technical View:
 The below is the hourly chart of JPYINR with a strong breakout in the above chart turning its trend to up.
 Moving Average : In below hourly chart prices of JPYINR are trading near the 50 EMA any closing above it will confirm the uptrend.
 MACD: The MACD indicator has given a successive cross over on hourly basis suggesting the trend to remain bullish.
 RSI: RSI have successively crossed the mid –range level 50 on hourly basis which add to confirmation of uptrend to remain intact in yen.
 Stochastic: The stochastic indicator also confirm the same thing which add for the strong confirmation of uptrend in JPYINR for short term.
 ADX : The ADX is at crucial level with price if trade for the day above the 50 EMA ADX will turn up suggesting a strong up trending move in yen.
16.09.14
11:00 AM BOJ Gov Kuroda Speaks
More hawkish = Good for JPY

Rohan Shinde (Research Associate) rohan.shinde@choiceindia.com
Amit Pawar (Research Associate) amit.pawar@choiceindia.com
Deveya Gaglani (Research Advisor) deveya.gaglani@chocieindia.com
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