IMV FOREX UPDATE
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๐Ÿ”” Currency Opening Bell ๐Ÿ””

USDINR.... Open on a Flat Note CMP 68.65 โ†”

Support is 68.50 Resistance is 69.00

Either side break or close with volume will decide further action in it.

Trade with levels only

Cross Currency โ€ฆOpen --- CMP

EURUSD โ€“ 1.11384---1.1386

GBPUSD - 1.3153---1.3154

USDJPY โ€“ 111.4700---111.4700
๐Ÿ’ฒ Currency Update: ๐Ÿ’ฒ

RBIโ€™s Rupee Dollar swap

RBIโ€™s governor Shaktikant Das proposed a $5 billion-Dollar-Rupee swap previous week in order to infuse liquidity into Indian Banking system. It is for the first time in Indian history that such a step is taken by RBI instead of applying regular Open Market Operation. This new tack will have a considerable impact on Indian money market and forex market, which is yet to be seen.

Why not conventional Open Market Operation?

This time RBI wanted to infuse durable liquidity into the banking system, unlike swap of cash for Government bonds for short period of time. Under this swap, RBI will buy Dollars from Banks instead of Bonds and will return it after three years for a โ€˜forwardโ€™ premium which will be decided through an auction on March 26.

๐Ÿ‘‰ Impact of Rupee- Dollar swap on market

With this step, RBI showed a discomfort from the rising Rupee. Buying of Dollars in such large amount was meant to restrict the gain in Rupee, but market is โ€œreceiving it wellโ€ as per the RBI governor. But market has reacted to it otherwise, since Rupee has gained more than 1.4% since the announcement. However, the major impact is yet to be seen.

๐Ÿ‘‰ On the Technical front:

USDINR has its major support at 68.40 and resistance is at 69.00.

Break and sustain above 69.00 will see 69.40---69.80 levels or else it can touch down its support of 68.40.

Fresh selling will do only on close below 68.40.

Trade with levels only.
โœณโœณ Our sell call of GBPINR crashed ๐Ÿ“‰๐Ÿ“‰ vertically and made a low of 90.17โ€ฆ

From 91.10---90.30. Gain ๐Ÿ’ฐ๐Ÿ’ฐ of 8000/- (as per 10 lots) in single target.

Monthly profit has crossed 35000 so farโ€ฆ

Now, what to expect??? ๐Ÿค”

GBPINR has its support at 90.00 and resistance is seen at 90.40.

Break and sustain above 90.40 will see 90.80---91.20 levels or else it can touch down its support level of 90.00.

Fresh selling will do only on close below 90.00.

We are expecting mind-blowing movement in currency segment in coming weeks โ€ฆ

Don't miss this chance and Join Indian Market view

Trade with levels only.

Have a look on screenshot what we had given โฌ†
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Low Investment, Healthy Return

Our sell call of GBPINR crashed ๐Ÿ“‰ vertically and made a low of 90.17

Gain ๐Ÿ’ฐ of more than 8000/- (as per 10 lots) in single target.

Monthly profit has crossed 35000

Now, what to expect???

GBPINR has its support 90.00 and resistance is seen at 90.40.

Break and sustain above 90.40 will see 90.80---91.20 levels or else it can touch down its support level of 90.00.

Fresh selling will do only on close below 90.00.

We are expecting mind-blowing movement in currency segment in comings weeks

Don't miss this chance and Join Indian Market view

Trade with levels only.
For more details about package call your RM or Call us on +91-7065111166


Team Indian Market View
Performance in Equity, Commodity and Currency till 22nd March 2019

โœ… Calculation as per single lot and 1st target

โœ… Calls purely based on Technical and Fundamental basis

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โœ… Unlimited free support and query solving related to your trade position

If you have any query/suggestions then feel free to ask directly with your RM or mail us on research@indianmarketview.com
๐Ÿ”” Currency Opening Bell ๐Ÿ””

USDINR.... Open on a Flat Note CMP 69.10

Support is 68.80 Resistance is 69.30

Either side break or close with volume will decide further action in it.

Trade with levels only

Cross Currency โ€ฆOpen --- CMP

EURUSD โ€“ 1.1310---1.1310

GBPUSD - 1.3199---1.3204

USDJPY โ€“ 109.7900---109.7900
๐Ÿ”” Currency Opening Bell ๐Ÿ””

USDINR.... Open on a Flat Note CMP 68.88 โ†”

Support is 68.70 Resistance is 69.30

Either side break or close with volume will decide further action in it.

Trade with levels only

Cross Currency โ€ฆOpen --- CMP

EURUSD โ€“ 1.1310---1.1325

GBPUSD - 1.3199---1.3227

USDJPY โ€“ 109.7900---110.1000
๐Ÿ’ฒ CURRENCY UPDATE ๐Ÿ’ฒ

Market participants are cautious ahead of RBIโ€™s first ever Rupee-Dollar swap auction to infuse Rs 35000 crore into the Indian banking system.

โžก On the technical front,

โžก USDINR has its support at 68.70 Resistance is 69.20

Break and sustain below 68.70 will take it to 68.40---68.10 mark else could touch its resistance level of 69.20 mark.

Fresh buying can be seen on close above 69.20.

Do not go for aggressive buying or selling in Currency segment. Trade in a range and wait for confirmation in trend as we are expecting that market will trade range-bound .

Trade with levels only
๐Ÿ‘‰ ENERGY UPDATE:

Natural Gas on MCX weighed down by a fall in demand from the Sabine Pass export terminal in Louisiana, warmer weather and a smaller year-on-year inventory deficit. The amount of gas flowing to Cheniere Energy Inc's Sabine Pass liquefied natural gas export terminal fell by almost half by Friday from a record high earlier in the week, according to energy data. The U.S. Energy Information Administration (EIA) said utilities pulled just 47 billion cubic feet (bcf) of gas from inventories during the warmer than normal week ended March 15.

Source: Investing.com

๐Ÿ‘‰ On the Technical front, Natural Gas (April) looks weak ๐Ÿ“‰๐Ÿ“‰ on the chart. ๐Ÿ“Š๐Ÿ“Š

It has its support at 189 and resistance is seen at 195.

Break and sustain above 195 will see 200---205 levels or else it can tumble down to touch its support levels of 189 again.

Fresh selling can be seen only on close below 189.

Trade with levels only.
๐Ÿ”” Currency Opening Bell ๐Ÿ””

USDINR.... Open on a Flat Note CMP 68.97

Support is 68.70 Resistance is 69.30

Either side break or close with volume will decide further action in it.

Trade with levels only

Cross Currency โ€ฆOpen --- CMP

EURUSD โ€“ 1.1324---1.1296

GBPUSD - 1.3194---1.3194

USDJPY โ€“ 109.9800---110.5800
๐Ÿ”” Currency Opening Bell ๐Ÿ””

USDINR.... Open on a Positive Note CMP 69.29

Support is 69.10 Resistance is 69.50

Either side break or close with volume will decide further action in it.

Trade with levels only

Cross Currency โ€ฆOpen --- CMP

EURUSD โ€“ 1.1312---1.312

GBPUSD - 1.3225---1.3221

USDJPY โ€“ 110.4800---110.6000
๐Ÿ”” Currency Opening Bell ๐Ÿ””

USDINR.... Open on a Negative Note CMP 69.45 โฌ‡โฌ‡

Support is 69.30 Resistance is 69.70

Either side break or close with volume will decide further action in it.

Trade with levels only

Cross Currency โ€ฆOpen --- CMP

EURUSD โ€“ 1.1264---1.1264

GBPUSD - 1.3096---1.3089

USDJPY โ€“ 110.4500---110.4500
๐Ÿ”” Currency Opening Bell ๐Ÿ””

USDINR.... Open on a Flat Note CMP 69.63

Support is 69.20 Resistance is 69.70

Either side break or close with volume will decide further action in it.

Trade with levels only

Cross Currency โ€ฆOpen --- CMP

EURUSD โ€“ 1.1241---1.1241

GBPUSD - 1.3085---1.3080

USDJPY โ€“ 111.1000---111.1000