Forex Update

Dollar Index
Views BUY IN DIPS
Daily
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After taking support at lower band of rising channel and 200 DMA, DXY is trading above
short term moving averages of 20 DMA. Near term hurdle is seen at $96.35 marks. Now
it has to cross this to gain further up-side momentum.
Weekly
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Dollar Index is capped within a rising channel. Moreover, RSI is trading around 50 marks.
Till DXY holds above 94.80, bounce-back from lower levels cannot be ruled out. Near
term hurdle is seen around 98 marks.
Monthly
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On broader time frame, Greenback (Dollar Index) is trading within a Broadening

pattern. Currently it is consolidating within 50-61.8 per cent Retracement levels and is
expected to trade within the range (94.20-98) for some more time.

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 Forex Update
EUR/USD
Views Sell on Rise
Daily
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On daily chart, EUR/USD is capped within a bearish Flag pattern. Break below 1.1335
would confirm the resumption of previous down-trend.
Weekly
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EUR/USD is capped within a bearish Flag pattern. Alternative candles is signifying no

clear trend. Till it sustains above 1.1320, pair may consolidate for some more time.
Monthly
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Lately, EUR/USD has faced strong supply around its internal trend-line. Formation of
Bullish reversal pattern around previous breakout levels indicating possible change in
trend. Till it sustains above 1.1215 marks, bounce back from lower levels cannot be
ruled out.
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 Forex Update
GBP/USD
Views BUY IN DIPS
Daily
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On daily chart, GBP/USD is trading around 200 DMA. Closing above 1.3065 may add
further momentum on up-side.
Weekly
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GBP/USD is currently trading around upper band of Falling Channel. Negative reversal
in RSI is suggesting a cautious approach. Strong hurdle is seen at 1.3242

Monthly
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On monthly chart, GBP/USD is trading around previous swing lows. It is likely to trade
within a broader range of 1.20-1.45 levels.

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 Forex Update
USD/JPY
Views BUY IN DIPS
Daily
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USD/JPY is trading around 50% Retracement levels. It has close above 109.80 to gain
further up-side momentum.
Weekly
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USDJPY is trading within a broader range of 104-115 marks. Breakout above 115 would
confirm the bullish reversal pattern i.e. an Inverse Head & Shoulder pattern.
Monthly
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Post Breakout from a Symmetric Triangle on monthly chart, USD/JPY is trading around
internal trend-line. Closing below 105 would negate bullish pattern.

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 Forex Update
EUR/INR
Views BUY IN DIPS
Daily
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On daily chart, EURINR is trading within a broader range of 79.50-82 marks and is
likely to trade within the range in near term.
Weekly
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EUR/INR is trading within a range of 78.20-82.20 levels. Any breakout or breakdown

would dictate the trend in near term.

Monthly
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Taking strong hurdle around 78.6% Retracement levels, EUR/INR is currently trading
within the range of 78.20-82.20 levels. Breakdown below 78.20 may drag prices further
lower till 76.50 marks.

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 Forex Update
GBP/INR
Views BUY IN DIPS
Daily
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GBPINR may continue its up-move till 94.20 marks in near term which may act as stiff
hurdle zone.
Weekly
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GBPINR is trading above all major moving averages in weekly time frame. Furthermore,
MACD is on verge of positive crossover which is a bullish set-up. Rally may continue in
near term till 94.50.

Monthly
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Rebounded from rising trend-line. Near term support 87 and hurdle at 97 levels.

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 Forex Update
JPY/INR
Views BUY IN DIPS
Daily
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JPYINR is likely to face strong hurdle at 66.50 marks. It has to cross this levels to gain
up-side momentum.
Weekly
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Double Top on weekly time frame suggesting a short term trend reversal.

Monthly
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JPYINR is trading around upper-band of Symmetric Triangle. If it fails to cross 66.70,

profit booking at higher levels cannot be ruled out.

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 Forex Update
USD/INR
Views BUY IN DIPS
Daily
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Post initial breakout from a trend-line, Rupee is consolidating above short term
moving averages. Support is seen around 70.50 and hurdle at 72.70 marks.
Weekly
View

USDINR has formed bullish reversal candlestick pattern on weekly time frame. Now it
has to cross 71.70 to gain up-side momentum.

Monthly
View

Dollar-Rupee rebounded from previous breakout levels. Till it sustains above 69.20
marks, USDINR may trade within a broader range of 69-74 levels.
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 Forex Update
Global & Domestic Events
Time Curr Event Actual Forecast Previous
Monday, January 28, 2019
No Major Economic Data
Tuesday, January 29, 2019
19:30 USD S&P/CS HPI Composite - 20 n.s.a. (YoY) (Nov) 4.90% 5.00%
20:30 USD CB Consumer Confidence (Jan) 126 128.1
Wednesday, January 30, 2019
5:20 JPY Retail Sales (YoY) (Dec) 2.20% 1.40%
12:30 EUR GfK German Consumer Climate (Feb) 10.3 10.4
18:30 EUR German CPI (MoM) (Jan) 0.10%
18:45 USD ADP Nonfarm Employment Change (Jan) 175K 271K
19:00 USD GDP (QoQ) (Q4) 2.80% 3.40%
19:00 USD GDP Price Index (QoQ) (Q4) 1.50%
20:30 USD Pending Home Sales (MoM) (Dec) -0.70%
Thursday, January 31, 2019
0:30 USD FOMC Statement
0:30 USD Fed Interest Rate Decision
5:20 JPY Industrial Production (MoM) (Dec) -1.90% -1.00%
6:30 CNY Manufacturing PMI (Jan) 49.9 49.4
6:30 CNY Non-Manufacturing PMI (Jan) 53.8
12:30 EUR German Retail Sales (MoM) (Dec) 0.30% 1.40%
14:25 EUR German Unemployment Change (Jan) -14K
14:25 EUR German Unemployment Rate (Jan) 5.00%
15:30 EUR Unemployment Rate (Dec) 7.90%
20:15 USD Chicago PMI (Jan) 62.5 65.4
Friday, February 1, 2019
5:00 JPY Jobs/applications ratio (Dec) 1.63 1.63
7:15 CNY Caixin Manufacturing PMI (Jan) 50.1 49.7
14:25 EUR German Manufacturing PMI (Jan)
14:30 EUR Manufacturing PMI (Jan) 51.4 51.4
15:00 GBP Manufacturing PMI (Jan) 54.2
Tentative EUR CPI (YoY) (Jan) 1.60%
19:00 USD Nonfarm Payrolls (Jan) 183K 312K
19:00 USD Private Nonfarm Payrolls (Jan) 175K 301K
19:00 USD Unemployment Rate (Jan) 3.90% 3.90%
20:15 USD Manufacturing PMI (Jan)
20:30 USD ISM Manufacturing PMI (Jan) 54 54.1
20:30 USD Michigan Consumer Expectations (Jan) 78.3
20:30 USD Michigan Consumer Sentiment (Jan) 94.5 90.7