Monday, 3 September 2012

Currency trading at MCX


Currency trading at MCX
 
I have given below the trading levels for Currency pairs of current month traded at MCX. Euro, GBP and JPY are quite strong. The USD is showing some weakness. The USD made a big upward move, but did not hold the ground. Any upward move by USD will attract shorting the currency. Traders should take note of volatility ( which was high in the last trading session)and act accordingly.

Happy trading!


EURINR-I
GBPINR-I
JPYINR-I
USDINR-I
R3
70.2908
88.9600
71.4517
57.3367
Mid R3
70.2300
88.8413
71.3700
57.1425
R2
70.1692
88.7225
71.2883
56.9483
Mid R2
70.1325
88.6538
71.2375
56.6413
R1
70.0958
88.5850
71.1867
56.3342
Mid R1
70.0350
88.4663
71.1050
56.1400
Pivot
69.9742
88.3475
71.0233
55.9458
Mid S1
69.9375
88.2788
70.9725
55.6388
S1
69.9008
88.2100
70.9217
55.3317
MID S2
69.8400
88.0913
70.8400
55.1375
S2
69.7792
87.9725
70.7583
54.9433
Mid S3
69.7425
87.9038
70.7075
54.6363
S3
69.7058
87.8350
70.6567
54.3292

Pivot levels for4th September 2012


Pivot levels for 4th  September 2012

The Nifty had opened above the pivot, to meet the resistance level of R1 5295. But came down to touch the midS1 (5249) 5243. It had gained 10 points to close at 5253 all major indexes are not in favor of Nifty. As I said in my last post, 5238 is an important level to watch for. If these levels are broken a weak Nifty could even see levels of 5227.


Mid R3      5327     R3           5338
Mid R2      5301     R2           5317
Mid R1      5275     R1           5285
                                             
Pivot          5264                   
                                             
Mid S1      5248     S1           5233
Mid S2      5222     S2           5212
Mid S3      5196     S3           5180


For the traders who follow Fibonacci numbers I give below the chart based on Fibonacci numbers

Pivot        5264                                                        
                                                                                
R3           5317       S1           5244                          
R2           5297       S2           5232                          
R1           5284       S3           5212 

Happy trading!!