CURRENCIES DAILY TECHNICAL REPORT USDINR MONTH S3 S2 S1 R1 R2 R3 NOVEMBER

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1 AUGUST November 20, 30, 2018 USDINR NOVEMBER USDINR opened with a gap down and traded in bearish zone throughout the session The pair made a 3 month low of levels On daily chart, the pair has made a bearish candle with lower lows and highs from the previous session The pair is currently trading below it s important moving averages, i.e. 20, 50 and 100 A short pull back can be expected in today s session towards levels 1

2 GBPUSD NOVEMBER GBPUSD opened with a gap up but failed to sustain the same marking the low at On daily chart, the pair has made a bearish candle and is moving in a horizontal channel within the range levels The pair is currently trading below it s important moving averages, i.e. 20, 50 and 100 The resistance and support in the pair can be placed at and levels respectively An open below can lead to more weakness in the pair, however breach and sustainment of the same on the upper side will lead the pair for an attempt to breach the levels 2

3 EURUSD NOVEMBER EURUSD opened with a gap up and remained in bullish zone i.e. within the range of levels On the daily chart, the pair has made a bullish candle with long lower shadow indicating support at lower levels The pair gave breakout to levels and if sustains the same can be positive for the pair The support in the pair is at levels, the breach of which can lead in bearish territory 3

4 USDJPY NOVEMBER USDJPY gave a gap down and gave a sharp correction towards the 112 levels thus erasing the gains of previous bullish trend On the daily chart, the pair has made a long bearish candle indicating weakness in the pair The sharp correction in the pair lead the close come near the low at levels and below the 20 and 50 moving average on the daily chart The support can be placed at levels at 100 day SMA and short pull back can be expected in the pair 4

5 RESEARCH TEAM Name Designation Kunal Shah Head of Research Devidas Rajadhikary AVP Commodity Research Harshal Mehta AVP Commodity Research Ravi D souza Sr. Research Analyst ravi.dsouza@nirmalbang.com Smit Bhayani Shrishty Agarwal Research Associate Research Associate smit.bhayani@nirmalbang.com shrishty.agarwal@nirmalbang.com Disclaimer: This Document has been prepared by N.B. Commodity Research (A Division of Nirmal Bang Commodities Pvt. Ltd). The information, analysis and estimates contained herein are based on N.B. Commodities Research assessment and have been obtained from sources believed to be reliable. This document is meant for the use of the intended recipient only. This document, at best, represents N.B. Commodities Research opinion and is meant for general information only. N.B. Commodities Research, its directors, officers or employees shall not in any way be responsible for the contents stated herein. N.B. Commodities Research expressly disclaims any and all liabilities that may arise from information, errors or omissions in this connection. This document is not to be considered as an offer to sell or a solicitation to buy any securities. N.B. Commodities Research, its affiliates and their employees may from time to time hold positions in securities referred to herein. N.B. Commodities Research or its affiliates may from time to time solicit from or perform investment banking or other services for any company mentioned in this document. Address: Nirmal Bang Commodities Pvt. Ltd., B2, 301 / 302, 3rd Floor, Marathon Innova, Opp. Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel (W), Mumbai , India 5