TRADE NIVESH FOREX TARDING TIPS TODAY

BUY EURINR ABOVE  73.30 TGT  73.40-73.50-73.60 SL BELOW  73  CMP  73.27

SELL JPYINR  BELOW  63.80 TGT  63.70-63.60-63.50 SL ABOVE 64 CMP  63.8175 

BUY GBPINR ABOVE  81.85 TGT  81.95-82.05-82.15 SL BELOW 81.65  CMP  81.82

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Dollar slips from two-week high before Fed and BOJ meetings

The dollar fell from a two-week high on Monday, with a stronger oil price the chief theme in a market battening down the hatches ahead of central bank policy meetings in Japan and the United States.

Commodity-linked currencies including the Canadian, Australian and New Zealand dollars were all half a percent higher in early trade in Europe as crude rose 1.5 percent on the back of speculation about OPEC production controls.

Moves in the euro, yen and dollar were limited, with investors eyeing the chances of a shift in the Bank of Japan's policy toolkit and a U.S. Federal Reserve statement that points more clearly to a rise in interest rates this year.

BUY GBPINR ABOVE  87.45 TGT -87.55-87.65-87.75 SL 87.25 BELOW CMP 87.4375

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SUPER FOREX SIGNALS@JPYINR,EURINR,GBPINR

SELL JPYINR BELOW  65.65 TGT -65.45-65.35-65.25 SL 65.85  ABOVE CMP  65.6925

SELL EURINR BELOW  74.40 TGT -74.30-74.20-74.10 SL 74.60  ABOVE CMP  74.42

SELL GBPINR BELOW  87.70 TGT -87.60-87.50-87.40 SL 87.90  ABOVE CMP  87.71

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Forex signals: Dollar bulls bruised by payrolls blow, Yellen in focus

The dollar languished at more than three-week lows against a basket of major currencies on Monday after a strongly disappointing employment report prompted investors to rule out the chance of a hike in U.S. interest rates this month.

The dollar index (DXY) stood at 94.161, having been as low as 93.855 on Friday - a level last seen on May 12. It tumbled 1.6 percent on Friday, posting its second biggest one-day drop this year.

The yen also hit a three-year high of 120.83 per euro on Friday before stepping back to 121.50.

The euro held upper hand against the dollar, climbing to its highest in three weeks at $1.1375 on Friday though it has since drifted back to $1.1345.

BUY EURINR ABOVE 76.25 TGT- 76.35-76.45-76.55 SL 76 BELOW

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Dollar hits two-week low against yen

The dollar hit a two-week low against the safe-haven yen on Thursday, weighed down by uncertainty over whether the U.S. Federal Reserve will raise interest rates in June or July.

Strategists said comments from Bank of Japan board member Takehiro Sato, who said on Thursday he was opposed to deepening negative interest rates, had lifted the yen, which was already trading strongly on the back of subdued risk sentiment across markets.

The dollar was down half a percent by 0740 GMT at 108.99 yen, having earlier touched 108.825 yen, its lowest for two weeks. That was around 2.5 percent weaker than a one-month high of 111.455 yen set on Monday.

The European Central Bank will at 1145 GMT publish its latest interest rate decision, with no change expected, followed by a press conference with ECB chief Mario Draghi at 1230 GMT.

The euro rose 0.3 percent to $1.1221, its highest in nine days, lifted by market expectations that the ECB will raise growth and inflation forecasts, a rare positive step even as it emphasises persistent negative risks and a readiness to provide more stimulus.

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Forex - Dollar dips but remains firm on rate hike view

The dollar eased against a basket of its peers on Wednesday, but remained supported near two-month highs as positive U.S. housing data and recent hawkish comments by Federal Reserve officials indicated that interest rates could soon rise.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, eased to 95.53, just below overnight highs of 95.66, the most since March 29.

Demand for the dollar continued to be underpinned after data on Tuesday showing that U.S. new home soared to the highest level since the start of 2008 in April.

The Commerce Department said new home sales rose by 16.6% to an annual unit rate of 619,000 last month.

The data reinforced expectations that the Fed could raise interest rates in the near term after last week’s April Fed meeting minutes flagged a possible rate hike if the economy continues to improve.

Higher rates are positive for the dollar because they make the U.S. currency more attractive to yield-seeking investors.

EUR/USD edged up to 1.1147 from Tuesday’s lows of 1.1131, the weakest level since March 16.

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TRADE NIVESH FOREX TRADING TIPS FOR 23 MAY 2016

“USD/JPY is probing the 55 day ma at 110.31 but will need a close above the 111.90 last reaction high to confirm that the market has based (favored)”.

“We note the TD perfected set up and 13 count on the 240 minute chart and we may see a minor set back very near term, but we look for dips to hold over 107.65”.

“The sharp drop last Friday was unexpected and the 1.4488 low was just a few pips above our 1.4485 stop-loss”.

“Unless GBP can move and stay above 1.4580 within these couple of days, a break below 1.4485 seems likely”.

“In other words, the recent high 1.4663 is likely the extent of the current bullish phase and the target of 1.4770 is not met”.

BUY GBPINR ABOVE 97.90 TGT -98-98.10-98.20 SL 97.70 BELOW CMP 97.84

SELL USDINR BELOW 67.35 TGT 67.25-67.15-67.05 SL 67.55 ABOVE CMP 67.38



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