Best Forex Tips For Expert Traders 30-May

oie_nk1EK4jmM1IAMarket Outlook

Indian Rupee appreciated for the third consecutive session amid firm trading of other Asian currencies and closed in red territory. Data suggesting fresh foreign fund inflows also influenced the movement of local currency.

Japanese consumer prices rose 0.9 percent in April from a year earlier when stripping away the effect of energy and fresh food costs, a new indicator released by the Bank on Friday. That followed a 1.1 percent annual rise in March.

Fundamental News

  • Rupee gains for third day, up 12 paise to 67.05 against US dollar.
  • Dollar slips after US data dampens Fed rate hike bets.
  • Yen edges up after G7 vows against forex market intervention.
  • Australia, NZ dollars set to end May with large losses.

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usd

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USDINR

USDINR lost for the third consecutive session and closed on weak note.

On daily charts, it tested 100 day EMA of 67.3800 and sustaining below it will result in breakout of trend line while on higher side, 67.5000 is seen as resistance.

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EURINR

EURINR remained on lower side after its weak opening and finally closed in red.

On daily charts, it is near to the crucial support of 75.2500 and maintain below it can be a weak signal for the counter while 75.6000 may act as resistance.

eur2

GBPINR

GBPINR reversed from the higher resistance levels and closed on lower note.

If it continues to fall then 98.1000 will act as immediate and strong support while 99.0000 is now seen as important resistance.

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JPYINR

JPYINR traded sideways but gains made it to close the session in green.

On daily charts,, if it falls below 61.3000 then it may drag towards 61.1000 while 61.9000 will now act as important resistance.

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