USD/INR: Second generation reforms (opening up of retail FDI) is good news but it has come in when market is in firm bearish mode. But would consider that anything to help arrest excessive weakness is good at this stage. Intraday, 52.10-52.00 is a strong support zone while 52.25-52.35 will attract supplies. We will watch consolidation at 52.10-52.25 with overshoot limited to 52.00-52.35. Play end-to-end.
EUR/USD: Held well at the sell zone of 1.3400-1.3475 (high 1.3410). Having sliced through strong support at 1.3350; looks set for extension to 1.3150. Exit shorts here and allow bounce back to 1.3250 before down to 1.30.
USD/JPY: Got the exit for long USD/JPY entered at 76.75-76.50 at 77.50. Now, watch consolidation at 77-78. The base is slowing shifting up from 75 to 77 now. Near term target is at 79.50-80. Look to buy at 77.25-76.75 with stop at 76.50 for 78.25-78.50
NIFTY: Held well at sell zone of 4750-4800 and looking weak to test/break 4650 enroute to 4450/4350. Hold short and add at 4775-4825 with stop above 4850 for 4650
10Y bond (8.79% 2021): Watch two-way consolidation at 8.75-8.85%; good to short at 8.76-8.74 with stop at 8.73% and buy 8.84-8.86% with stop at 8.87%
IY OIS: Watch 8.05-8.15% and play end-to-end; test/break either-way should not sustain. Better to pay stay paid for mid December call money move above 9.5%
5Y OIS: Watch 7.25-7.35%. Play from paid side on dips into 7.25 and keep adding on dips into 7.10% (with stop below 7%). Good carry and spike into 7.35-7.40% is on cards.
USD/INR Premium: Pay Jan/Oct below 2.5% (99) and keep adding on dips into 2.25-2.0%. 12M strong support at 3.0-2.90% (S/Oct at 144-139).
Have a great day and good week end ahead.......Moses Harding
EUR/USD: Held well at the sell zone of 1.3400-1.3475 (high 1.3410). Having sliced through strong support at 1.3350; looks set for extension to 1.3150. Exit shorts here and allow bounce back to 1.3250 before down to 1.30.
USD/JPY: Got the exit for long USD/JPY entered at 76.75-76.50 at 77.50. Now, watch consolidation at 77-78. The base is slowing shifting up from 75 to 77 now. Near term target is at 79.50-80. Look to buy at 77.25-76.75 with stop at 76.50 for 78.25-78.50
NIFTY: Held well at sell zone of 4750-4800 and looking weak to test/break 4650 enroute to 4450/4350. Hold short and add at 4775-4825 with stop above 4850 for 4650
10Y bond (8.79% 2021): Watch two-way consolidation at 8.75-8.85%; good to short at 8.76-8.74 with stop at 8.73% and buy 8.84-8.86% with stop at 8.87%
IY OIS: Watch 8.05-8.15% and play end-to-end; test/break either-way should not sustain. Better to pay stay paid for mid December call money move above 9.5%
5Y OIS: Watch 7.25-7.35%. Play from paid side on dips into 7.25 and keep adding on dips into 7.10% (with stop below 7%). Good carry and spike into 7.35-7.40% is on cards.
USD/INR Premium: Pay Jan/Oct below 2.5% (99) and keep adding on dips into 2.25-2.0%. 12M strong support at 3.0-2.90% (S/Oct at 144-139).
Have a great day and good week end ahead.......Moses Harding
A very helpful post from trading point of view this is.Updates on major currencies pairs I got to learn here. For more updates and experts views follow epic research .
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