Weekly Forex Trading Tips For Beginner Trader

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27 JAN - 30 JAN 2015 W E E K L Y R E P O R T Buy on fear, sell on greed. Buy on the rumor, sell on the news. The trend is your friend. Amateurs want to be right. Professionals want to make money. WWW.TRIFIDRESEARCH.CO M

Transcript of Weekly Forex Trading Tips For Beginner Trader

27 JAN - 30 JAN 2015

W E E K L Y

R

E

P

O

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T

Buy on fear, sell on greed.

Buy on the rumor, sell on the news.

The trend is your friend.

Amateurs want to be right.

Professionals want to make money.

WWW.TRIFIDRESEARCH.COM

REFERENCE RATE

(USD) 61.4988

REPO RATE 7.75%

REVERSE REPO 7%

CRR 4%

INFLATION 0.00%

KEY RATES As on 23/01/2015

MARKET EVENTS MARKET OUTLOOK

Rupee movements were quiet in the

beginning of the week but its gradual

gains during the week drifted it to

two month high of 61.44 per dollar.

It was supported by strong bull rally

of Equity markets touching record

highs on better than expected QE

program so announced by ECB which

attracted foreign flows and

supported the rupee sentiments.

Indian Fx Reserves marked records

to touch the figure of $322.13 bn in

the week ending Jan 16. In the

coming week FOMC meet is the key

event which may affect volatility;

although Fed’s meeting last month

indicating interest rates may not

increase before April.

Forex reserves hit all-time

high at $322.14 billion.

Euro hits fresh 11-year lows vs

dollar following ECB move.

China's Yuan posts biggest 1-

day loss in 7 weeks after ECB's

QE move.

Yen rebounds against dollar

after BoJ stands pat on policy.

CURRENCIES PREVIOUS

RATE

CURRENT

RATE % CHANGE

USDINR 62.0200 61.5000 -0.83

EURINR 71.9300 69.0800 -3.96

GBPINR 94.3250 92.1500 -2.30

JPYINR 53.2125 52.0100 -2.25

USDINR

EURINR

USDINR last week showed sideways to bearish movements and closed on negative note. If

bearishness continues then 61.1000 is seen as major support level in the coming week from

where reversals can also be seen. On the other hand, important resistance level is seen near

62.0000 mark for the week.

EURINR last week saw huge weekly fall and after ECB announcement of bond buying program of 1

trillion euros to avoid deflation threat and hence it surpassed its important weekly support of

69.5000 and closed below it. If it sustains below 69.0000 then 66.9000 is now seen as major

support level while immediate resistance is seen around 71.2000-72.0000.

CURRENCIES S1 S2 S3 R1 R2 R3 USDINR 61.1000

60.8000 60.4000 61.9000 62.3000 62.7000

EURINR 68.5000 68.0000 67.4000 69.6000 70.2000 71.0000

GBPINR 91.4000 90.1000 89.0000 93.0000 93.8000

94.6000

JPYINR 51.4000 50.9000 50.3000 52.6000

53.1000 53.9000

PIVOT TABLE

DATE TIME COUNTRY EVENT BLOOMBERG

ESTIMATE

PREVIOUS

LEVEL

27-JAN-2015 7:00

PM US

Core Durable

Goods Orders

m/m

0.6% -0.7%

27-JAN-2015 8:30

PM US

CB Consumer

Confidence 95.7 92.6

29-JAN-2015 12:30

AM US FOMC Statement _ _

30-JAN-2015 7:00

PM US Advance GDP q/q 3.1% 5.0%

INTERNATIONAL UPDATES

Pound Gains to Strongest Level in Seven Years versus Euro on

ECB.

Brazil’s Real Drops as Current-Account Gap Wider Than

Forecast

Australian dollar drops to 5.5-year low after ECB move.

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DISCLAIMER