Dollar was set for its biggest one-day gain against a basket of major currencies so far this year after a strong U.S.

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Daily Market Reflection
07th
August 2017
Market Outlook
Fundamental News
Reference Rate
Currency
Date Date
% Chg
03-08-17 04-08-17
USDINR 63.6314 63.7091 +0.12%
EURINR 75.3905 75.6609 +0.36%
GBPINR 84.1589 83.7074 -0.54%
JPYINR 57.5300 57.8500 +0.56%
The rupee on Friday resumed its record- setting spree after a brief pause
and closed at a fresh two- yearhigh of 63.58.
Dollar was set for its biggest one-day gain against a basket of major
currencies so far this year after a strong U.S. July payrolls report and
comments from National Economic Council director Gary Cohn about
lowering U.S. corporate tax rate. which measures the greenback against
six major rivals, jumped about 1 percent to a week high of 93.774 after
the Labor Department said nonfarm payrolls increased by 209,000 jobs
last month and Cohn's comments. It was last up 0.7 percent at 93.529.
 European Monetary Union CFTC EUR NC net positions down
to €82.6K fromprevious €90.8K.
 United States CFTC USD NC net positions dipped from previous
$108.2K to $79.5K.
 Canada Unemployment Rate came in at 6.3%, below
expectations (6.5%) in July.
Event Calendar (07th Aug 2017)
Time Currency Event Forecast Previous
10:30am JPY Leading Indicators 106.20% 104.60%
11:30am EUR
German Industrial
Production m/m
0.20% 1.20%
1:00pm GBP Halifax HPI m/m 0.30% -1.00%
2:00pm EUR
Sentix Investor
Confidence
27.8 28.3
7:30pm USD
Labor Market Conditions
Index m/m
- 1.5
10:55pm USD
FOMC Member Kashkari
Speaks
- -
Currencies vs $
Currency
Close
(5:00pm)
Prev
Close
% Chg
Rupee 63.755 63.730 +0.04%
Dollar Index 93.37 92.70 +0.72%
Euro 1.1771 1.1870 -0.83%
Pound 1.3043 1.3139 -0.73%
Japanese Yen 110.69 110.03 +0.60%
Currency Future
Currency
Date Date
% Chg
03-08-17 04-08-17
USDINR 63.8800 63.7825 -0.15%
EURINR 75.6975 75.7850 +0.12%
GBPINR 84.2625 83.9100 -0.42%
JPYINR 57.8400 57.9950 +0.27%
Global Commodities
Commodity Close Prev.Close % Chg
Gold 1258.28 1267.80 -0.75%
Silver 16.255 16.630 -2.25%
Crude 49.53 49.03 +1.02%
Copper 2.889 2.878 +0.38%
USDINR
OUR PREVIOUS CALLS UPDATE
Intradaysuper star
Date Currency Entry Exit P/L
04/08 GBPINR(S) 84.0725 83.9525 +2400
Trifid special
Date Currency Entry Exit P/L
02/08 EURINR(L) 76.11 75.61 -20000
For our next calls click here……..

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Overview
USDINR EURINR
R1 R2 S1 S2
63.9000 64.0000 63.6000 63.5000
USDINR continued bear moves in the last session and closed
near support levels.
In the coming session, if it surpasses the immediate support
level of 63.0000 then it may further drop whereas 64.0000
may continue to act as stiff resistance.
R1 R2 S1 S2
75.9000 76.1000 75.6000 75.4000
EURINR opened on higher note but could not sustain at
such levels and closed on a flat note.
On lower side, 75.5500 is seen as near support for the
currency pair whereas 76.2000 is still seen as good resistance
forit.
GBPINR
R1 R2 S1 S2
84.0000 84.2000 83.7000 83.5000
GBPINR continued the downfall since last three consecutive
sessions and closed on weak note.
The counter may find support near 83.7500 holding below
which can further drag it lower while 84.0000-84.2000 is
seen as immediate resistance range.
JPYINR
R1 R2 S1 S2
58.2000 58.4000 57.8000 57.6000
JPYINR showed positive move after the previous session’s
gains and closed in green.
Although not so much volatility was seen during the session,
the mark of 58.0000 is seen as important resistance
sustaining above which can further intensify bulls.

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Intraday Super Star
(Premium Section)
EURINR is facing resistance at higher levels and may fell down if it surpasses the trend line so shownin daily chart above.
SELL BELOW 75.7475 TARGETS 75.6275/75.5075 SL 75.9475.

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Trifid Special
(Premium Section)
GBPINR showed consecutive downfall and closed below the trend line on daily chart. The currency pair may extend the bears
in the coming sessions.
SELL BELOW 83.8700 TARGET83.5700 SL 84.3700.

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