VIEW ON MAJOR CURRENCY
EUR/USD: EURO yesterday which opened at 1.3516 level failed to cross the higher resistance level of 1.3550 and moved towards the lower support level of 1.3440 and further trading below the same was seen and it tested the level of 1.3320 on lower side where closing was seen at 1.3345 level. Today’s opening was seen at 1.3344 level and taking the lower support of 1.3320 is trading positive giving short bounce in market where its trading at 1.3370 and expect to trade in the range of 1.3415 and 1.3330 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above to cross 1.3450 and is expected to test 1.3350 – 1.3200 in medium terms. Stochastic which has given a down trend is nearing the lower zone below 30% moving to enter oversold zone indicating further selling to continue in near term.
GBP/USD: British Pound yesterday after open at1.5640 level failed to move up and selling continued throughout the day where lower level was tested at 1.5490 and closing was seen at 1.5525 levels where 1.5480 was the support taken. Today the opening was seen flat around the level of 1.5525 and taking support of 1.5500 is trading at 1.5550 level and expected trading range will be 1.5600 – 1.5480. Further trading below 1.5525 will continue the down trend where 1.5480 to 1.5440 will be immediate target. On higher side immediate resistance is seen at 1.5570 and crossover above the same will move to test 1.5640 to 1.57000 again. Till the time 1.5700 is holding on closing basis short correction can be expected. Stochastic which were trading in oversold zone has turned negative and is trading below 20% zone where some fall in price may be expected soon
AUS/USD: Australian Dollar yesterday after the flat opening at 0.9835 failed to trade above 0.9850 level and after trading below the support of 0.9800 tested the days low of 0.9650 where support was tested at 0.9650 and closing was seen at lower level at 0.9685 level. Today after flat opening around 0.9685 it fails to cross the lower support of 0.9650 and is trading at 0.9725 where immediate resistance is seen at 0.9780 and if trading is seen below 0.9520 will move to test 0.9480 and 0.9420 in near term. On higher side sustain trading above immediate resistance level of 0.9780 will bring to 0.9860 level. Stochastic has given negative intersection just below over sold zone where down side move can be expected.
NZD/USD: Newzeland Dollar yesterday opening was seen at 0.7470 level and tested days high of 0.7502 but later part of the session it failed to higher level and tested lower level of 0.7280 and closing was also seen near days low at 0.7395 level. Today the opening was seen at 0.7396 and is trading positive at 0.7430 level and trading in the range for the day where on higher side its not crossing 0.7460 and on lower side support is seen at days low of 0.7380 level, further trading below 0.7400 will open the door for 0.7380 to 0.7320 level in near term. We expected some range bound to down side move in market where 0.7500 is resistance and support is seen at 0.7450 and selling at rise is advice in near term. Stochastic has reentered in oversold zone and is just hovering below 20% area where negative intersection will bring further selling.
USD/JPY: Japanese Yen yesterday closing was seen at 77.28 after testing higher level of 77.6 where it’s trading positive and in range bound move where 77.5 can be retested. Today opening was seen at 77.3 and is trading just above 77 near 77.11 level where support is seen at 76.95 on lower side. Trading range can be seen for the day where 77.2 will be higher side resistance and support is seen at 76.8 on lower side. Stochastic has given positive intersection where side way move in price can be expected.
VIEW ON MAJOR COMMODITIES
Gold: Gold yesterday where the opening was seen flat around 1700$ failed to trade above 1710$ and after testing the resistance level moved down and tested the days low of 1677$ where support was seen at 1675$, closing was seen near the level of 1691$. Today opening was seen flat around 1691$ and is trading in the range of 1695 $ resistance and support is seen at 1685$ and either side move will further confirm the trend in market. On higher side immediate resistance is seen at 1710$ where if it holding the resistance level will bring the price to move test the lower support of 1665 and 1660$ on lower side and further trading below 1660 will confirm the down trend on market. On lower side it is expected to move further down if support of 1690 is broken and will test the lower support of 1640 to 1600$ support level in medium term. Stochastic has entered in oversold zone where further price movement will confirm the trend where sustain below 20% zone will bring to 10% where lower target can be tested.
Silver: Silver in the past few trading session is trading in the wide range with lower top and lower bottom formation where on lower side recent low was posted at 30.57$ and closing was seen at 31.68$ where on higher side resistance is seen at 33$ level. Today after sideway opening at 31.7$ it is trading at 31.78$ where if sustain trading is seen below 31.5$ will test the lower level of 31$ to 30.5$ immediately, where as only crossover above 33$ will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared to the lower level below 30% nearing oversold zone where if price drift below 30$ will bring to lower level where further selling in price may be seen.
Brent Crude oil: Brent Crude on yesterday after opening at 108.35$ failed to trade above 109$ and tested the lower level of 106.8$ where closing was seen above 107$ at 107.1$. Today after positive opening near 107.33 failed to cross 107 and is trading at 107.38$ where some more upside is expected and may test 108$ immediately. Crossover above 110$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 117$. If sustain trading below 107$ will open the door for 106 to 102$ on lower side till the time 109$ is holding for the day. Stochastic has drifted below 20% zone is trading flat and is expected to move towards the lower zone below 10% where some more selling can be seen in the price in coming days.
Copper: Copper yesterday after gap down opening at 7265 tested the lower support of 7110 and closing was also seen near the days low at 7218 level. If sustain trading is seen below 7200 will open the door for 7000 and 6800 level soon. Today we look side way to negative trend to continue where will test 7100 level soon and only if the resistance of 7400 break will continue the uptrend where it will test 7700 – 7750 level immediately. Today expected to give opening near to 7200 and expected trading range will be 7300 to 7100 where selling is advise on every rise till the time resistance is holding at 7600. Stochastic are trading near the oversold zone where some down side move can be expected in near term.
Report by:
xDirect India
EUR/USD: EURO yesterday which opened at 1.3516 level failed to cross the higher resistance level of 1.3550 and moved towards the lower support level of 1.3440 and further trading below the same was seen and it tested the level of 1.3320 on lower side where closing was seen at 1.3345 level. Today’s opening was seen at 1.3344 level and taking the lower support of 1.3320 is trading positive giving short bounce in market where its trading at 1.3370 and expect to trade in the range of 1.3415 and 1.3330 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above to cross 1.3450 and is expected to test 1.3350 – 1.3200 in medium terms. Stochastic which has given a down trend is nearing the lower zone below 30% moving to enter oversold zone indicating further selling to continue in near term.
GBP/USD: British Pound yesterday after open at1.5640 level failed to move up and selling continued throughout the day where lower level was tested at 1.5490 and closing was seen at 1.5525 levels where 1.5480 was the support taken. Today the opening was seen flat around the level of 1.5525 and taking support of 1.5500 is trading at 1.5550 level and expected trading range will be 1.5600 – 1.5480. Further trading below 1.5525 will continue the down trend where 1.5480 to 1.5440 will be immediate target. On higher side immediate resistance is seen at 1.5570 and crossover above the same will move to test 1.5640 to 1.57000 again. Till the time 1.5700 is holding on closing basis short correction can be expected. Stochastic which were trading in oversold zone has turned negative and is trading below 20% zone where some fall in price may be expected soon
AUS/USD: Australian Dollar yesterday after the flat opening at 0.9835 failed to trade above 0.9850 level and after trading below the support of 0.9800 tested the days low of 0.9650 where support was tested at 0.9650 and closing was seen at lower level at 0.9685 level. Today after flat opening around 0.9685 it fails to cross the lower support of 0.9650 and is trading at 0.9725 where immediate resistance is seen at 0.9780 and if trading is seen below 0.9520 will move to test 0.9480 and 0.9420 in near term. On higher side sustain trading above immediate resistance level of 0.9780 will bring to 0.9860 level. Stochastic has given negative intersection just below over sold zone where down side move can be expected.
NZD/USD: Newzeland Dollar yesterday opening was seen at 0.7470 level and tested days high of 0.7502 but later part of the session it failed to higher level and tested lower level of 0.7280 and closing was also seen near days low at 0.7395 level. Today the opening was seen at 0.7396 and is trading positive at 0.7430 level and trading in the range for the day where on higher side its not crossing 0.7460 and on lower side support is seen at days low of 0.7380 level, further trading below 0.7400 will open the door for 0.7380 to 0.7320 level in near term. We expected some range bound to down side move in market where 0.7500 is resistance and support is seen at 0.7450 and selling at rise is advice in near term. Stochastic has reentered in oversold zone and is just hovering below 20% area where negative intersection will bring further selling.
USD/JPY: Japanese Yen yesterday closing was seen at 77.28 after testing higher level of 77.6 where it’s trading positive and in range bound move where 77.5 can be retested. Today opening was seen at 77.3 and is trading just above 77 near 77.11 level where support is seen at 76.95 on lower side. Trading range can be seen for the day where 77.2 will be higher side resistance and support is seen at 76.8 on lower side. Stochastic has given positive intersection where side way move in price can be expected.
| Currency pair | Pivot | S3 | S2 | S1 | R1 | R2 | R3 | Trend Index |
| EUR/USD | 1.3360 | 1.3308 | 1.3320 | 1.3345 | 1.3380 | 1.3395 | 1.3415 | Down |
| GBP/USD | 1.5535 | 1.5480 | 1.5500 | 1.5525 | 1.5565 | 1.5570 | 1.5590 | Down |
| AUD/USD | 0.9740 | 0.9695 | 0.9715 | 0.9725 | 0.9750 | 0.9760 | 0.9770 | Down |
| NZD/USD | 0.7435 | 0.7400 | 0.7420 | 0.7425 | 0.7740 | 0.7750 | 0.7760 | Down |
| USD/JPY | 77.15 | 76.56 | 76.8 | 76.92 | 77.3 | 77.51 | 77.65 | Sideway |
VIEW ON MAJOR COMMODITIES
Gold: Gold yesterday where the opening was seen flat around 1700$ failed to trade above 1710$ and after testing the resistance level moved down and tested the days low of 1677$ where support was seen at 1675$, closing was seen near the level of 1691$. Today opening was seen flat around 1691$ and is trading in the range of 1695 $ resistance and support is seen at 1685$ and either side move will further confirm the trend in market. On higher side immediate resistance is seen at 1710$ where if it holding the resistance level will bring the price to move test the lower support of 1665 and 1660$ on lower side and further trading below 1660 will confirm the down trend on market. On lower side it is expected to move further down if support of 1690 is broken and will test the lower support of 1640 to 1600$ support level in medium term. Stochastic has entered in oversold zone where further price movement will confirm the trend where sustain below 20% zone will bring to 10% where lower target can be tested.
Silver: Silver in the past few trading session is trading in the wide range with lower top and lower bottom formation where on lower side recent low was posted at 30.57$ and closing was seen at 31.68$ where on higher side resistance is seen at 33$ level. Today after sideway opening at 31.7$ it is trading at 31.78$ where if sustain trading is seen below 31.5$ will test the lower level of 31$ to 30.5$ immediately, where as only crossover above 33$ will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared to the lower level below 30% nearing oversold zone where if price drift below 30$ will bring to lower level where further selling in price may be seen.
Brent Crude oil: Brent Crude on yesterday after opening at 108.35$ failed to trade above 109$ and tested the lower level of 106.8$ where closing was seen above 107$ at 107.1$. Today after positive opening near 107.33 failed to cross 107 and is trading at 107.38$ where some more upside is expected and may test 108$ immediately. Crossover above 110$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 117$. If sustain trading below 107$ will open the door for 106 to 102$ on lower side till the time 109$ is holding for the day. Stochastic has drifted below 20% zone is trading flat and is expected to move towards the lower zone below 10% where some more selling can be seen in the price in coming days.
Copper: Copper yesterday after gap down opening at 7265 tested the lower support of 7110 and closing was also seen near the days low at 7218 level. If sustain trading is seen below 7200 will open the door for 7000 and 6800 level soon. Today we look side way to negative trend to continue where will test 7100 level soon and only if the resistance of 7400 break will continue the uptrend where it will test 7700 – 7750 level immediately. Today expected to give opening near to 7200 and expected trading range will be 7300 to 7100 where selling is advise on every rise till the time resistance is holding at 7600. Stochastic are trading near the oversold zone where some down side move can be expected in near term.
| Commodity | Pivot | S3 | S2 | S1 | R1 | R2 | R3 | Trend Index |
| Gold | 1692 | 1676 | 1684 | 1689 | 1697 | 1700 | 1708 | Down |
| Silver | 31.74 | 30.85 | 31.3 | 31.6 | 32.05 | 32.2 | 32.65 | Down |
| Crude | 107.5 | 106.77 | 107.13 | 107.3 | 107.67 | 107.85 | 108.2 | Down |
| Copper | 7200 | 7040 | 7120 | 7170 | 7250 | 7280 | 7360 | Down |
Report by:
xDirect India
KNR Construction JV bags order worth Rs 884.47 crore from Government of Telangana.
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