Forex Update

India's forex reserves rise to $306.64 bn

India-forex-reservesMumbai, April 12 : India's foreign exchange (forex) reserves increased by $2.97 billion to $306.64 billion for the week ended April 4, Reserve Bank of India (RBI) data showed.

The forex reserves have soared past $300 billion mark for the first time since December 2011.

This is the sixth consecutive week of increase in the country's forex reserves as overseas investors poured in money in local bonds and stock markets. The forex reserves had risen by $5.03 billion and $1.34 billion in the previous two weeks.


India's forex reserves soar to $303.67 bn

India's forex reserves soar to $303.67 bnMumbai, April 5 : India's foreign exchange (forex) reserves soared by $5.03 billion to $303.67 billion for the week ended March 28, Reserve Bank of India (RBI) data showed.

The forex reserves have soared past $300 billion mark for the first time since December 2011.

This is the fifth consecutive week of increase in the country's forex reserves as overseas investors poured in money in local bonds and stock markets.  The forex reserves had risen by $1.34 billion and $1.83 billion in the previous two weeks.


India's forex reserves rise to $298.63 bn

India's forex reserves rise to $298.63 bnMumbai, March 29 : India's foreign exchange (forex) reserves rose by $1.34 billion to $298.63 billion for the week ended March 21, Reserve Bank of India (RBI) data showed.

This is the fourth consecutive week of increase in the country's forex reserves as overseas investors poured in money in local bonds and stock markets.

The forex reserves had jumped by $1.83 billion for the week ended March 14.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, rose by $1.58 billion to $271.39 billion.


India's forex reserves jump by $1.83 billion

India's forex reserves jump by $1.83 billionMumbai, March 22 : India's foreign exchange (forex) reserves rose by $1.83 billion to $297.28 billion for the week ended March 14, Reserve Bank of India (RBI) data showed.

This is the third consecutive week of increase in the country's forex reserves as overseas investors poured in money in local bonds and stock markets.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $1.84 billion to $269.81 billion.


India's forex reserves up $1.45 bn

India's forex reserves up $1.45 bnMumbai, Feb 22 - India's foreign exchange (forex) reserves increased by $1.45 billion to $293.78 billion for the week ended Feb 14, Reserve Bank of India (RBI) data showed.

The foreign exchange reserves had increased by $1.26 billion to $292.33 billion for the week ended Feb 7.

According to the RBI's weekly statistical supplement foreign currency assets, the biggest component of the forex reserves, grew by $1.41 billion to $267.24 billion.

The foreign currency assets had grown $1.26 billion to $265.83 billion for the previous week.


AUD/USD: More Bearish Below 0.8925

AUD/USD: More Bearish Below 0.8925AUD/USD is once again trying to turn bearish from around 0.9080 area, where we think that wave (v) will complete wave C, final leg of running flat formation from mid-December.

Pair fell more than 100 pips from the highs, but we still need a decline beneath 0.8925 wave (iv) swing to confirm a bearish reversal.  In that case we would then be looking for a larger resumption of a downtrend back to January lows.

Forex Analysis by Gregor Horvat at ForexPros. com


India's forex reserves down $1.16 billion

Mumbai, Feb 8 - India's foreign exchange (forex) reserves decreased by $1.16 billion to $291.07 billion for the week ended Jan 31, Reserve Bank of India (RBI) data showed.

The foreign exchange reserves had increased by $157.3 million to $292.23 billion for the week ended Jan 24.

According to the RBI's weekly statistical supplement foreign currency assets, the biggest component of the forex reserves, fell by $1.48 billion to $264.56 billion.

The foreign currency assets had risen by $1.20 billion to $265.93 billion in the previous week.


GOLD: New High Towards 1280

GOLD: New High Towards 1280Gold found a support in the last few trading days at the lower side of a corrective channel, at 1237 where we see a completed three wave decline from the top, now labeled as wave (b).

As such, we suspect that new highs are underway with wave (c) that may complete a second zigzag around 1280.

Forex Analysis by Gregor Horvat at ForexPros. com


India's forex reserves down $1.20 billion

India's forex reserves down $1.20 billionMumbai, Jan 25 : India's foreign exchange (forex) reserves decreased by $1.20 billion to $292.08 billion for the week ended Jan 17, Reserve Bank of India (RBI) data showed.

The foreign exchange reserves had increased by $177.8 million to $293.28 billion for the week ended Jan 10.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, fell by $1.20 billion to $265.93 billion. The foreign currency assets had risen by $190.3 million to $267.14 billion in the previous week.


India's forex reserves up $177 mn

India's forex reserves up $177 mnMumbai, Jan 18 : India's foreign exchange (forex) reserves increased by $177.8 million to $293.28 billion for the week ended Jan 10, Reserve Bank of India (RBI) data showed.

The foreign exchange reserves had declined by $2.59 billion to $293.10 billion for the week ended Jan 3 2013.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, grew by $190.3 million to $267.14 billion.

The foreign currency assets had fell by $1.68 billion to $266.95 billion in the previous week.


USD/CHF: Bullish Reversal

USD/CHF: Bullish ReversalUSD/CHF is moving nicely to the upside from 0.8800 region where we see signs of a completed bearish trend.  Notice that current rise is sharp that already moved beyond 0.9000 swing high so we assume that market is forming an impulsive recovery, now in subwave 3 of 1) testing some resistance area around 0.9060 from where we may see a corrective pullback in wave 4 back to 0.8980-0.9000 zone before uptrend resumes again.

USD/CHF 4h Elliott Wave Analysis USD/CHF Elliott Wave


USD/JPY: Be Aware Of Downside Or Sideways Price Action

USDThe USD/JPY has been trading nicely higher in December, but now it seems that this move is completed after latest sharp drop from around 105.45 and through the channel support line connected from 103.74 swing.

This break suggests that five wave rally up in 5 of 3) is finished and that price is now at early stages of a larger corrective retracement down in wave 4). As such, be aware of more downside or at least sideways price action.


Crude Oil Is Pointing Down Again

Crude Oil Is Pointing Down AgainCrude oil reversed sharply to the upside at the end of November, after five waves down completed an extended wave 3, which is typically the strongest wave in a five wave cycle.

As such, we assume that recent contra-trend reaction back to $100 per barrel was only a contra-trend movement; wave 4 that is part of an impulsive drop from 112.20.

Current reversal down from 100.80 appears to be very strong so maybe new leg down has already started. We suspect that crude oil will revesing 91.80 in the first couple of weeks of 2014.

Forex Analysis by Gregor Horvat at ForexPros. com


EUR/USD Looks For Bearish Reversal

We think that sharp decline from 1.3810 represents only first leg within larger decline, so move from 1.3623 should then unfold in corrective manner. We are talking about wave (ii)/(b) that may look for a reversal down from 1.3715-1.3740 region. Critical level remains at 1.3810 as wave (ii)/(b) must not retrace more than 100% compared to previous five wave fall.
EUR/USD 1h Elliott Wave Analysis

EUR/USD Looks For Bearish Reversal

On the 4h chart below we can see that pair also took out the lower trend line of recent upward channel from November lows.


India's forex reserves down by $192 million

India's forex reserves down by $192 millionMumbai, Dec 21 : India's foreign exchange (forex) reserves decreased by $192.8 million to $295.51 billion for the week ended Dec 13, Reserve Bank of India (RBI) data showed.

The reserves had soared by $4.40 billion to $295.70 billion in the week ended Dec 6, 2013.

Foreign currency assets, the biggest component of the forex reserves, fell by $191.1 million to $268.56 billion in the week under review, according to the RBI's weekly statistical supplement.

Foreign currency assets had increased by $5.01 billion to $268.75 billion in the previous week.


India's forex reserves up by $4.40 billion

India's forex reserves up by $4.40 billionMumbai, Dec 14 :  India's foreign exchange (forex) reserves jumped by $4.40 billion to $295.70 billion for the week ended Dec 6, helped by a sharp increase in foreign currency assets, Reserve Bank of India (RBI) data showed.

This is the fifth consecutive week of gain in the country's foreign exchange reserves.

Forex reserves had soared by $5.03 billion to $291.30 billion during the week ended Nov 29, 2013.


GBP/USD: In A Correction Within An Uptrend

GBP/USD: In A Correction Within An UptrendGBP/USD has turned lower in the last 24 hours from its highs, but despite some weakness we believe that larger trend is incomplete. We are tracking an impulsive rally from 1.5853 low, which means that recovery needs to be made by five subwaves. With that in mind we believe that current bearish leg represents only first part of corrective pause.

We are talking about wave (iv) pullback that could look for a support zone around 1.6290/1.6310 in the next few trading days and then send prices higher early next week into wave (v) towards 1.6550/1.6600 region.


Trading Tips: Color Coded Candles And Market Trends

Last week I presented a "Spotlight On" talk on my 34EMA Wave and GRaB candles.

There's nothing proprietary about these tools and they are at the core of my trading - whether that be forex, futures, or stocks, even option.

The 34EMA Wave and GRaB candles dictate what markets I will consider trading as well as HOW I will trade them.

Forex Analysis by Raghee Horner at ForexPros. com


USD Index: A Turning Point Around 80.00 Level?

USD Index: A Turning Point Around 80.00 Level?USD index fell to a new swing low, to 80.00 region where market could form a tradeble low for wave (B)/(2). The fact is that decline from the highs is looking corrective, a double zigzag, so sooner or later USD is expected to turn bullish.

Current leg down is probably part of a complex downward correction, wave C) in a second zigzag so bottom could be near.

Forex Analysis by Gregor Horvat at ForexPros. com


USD/JPY Back In Bullish Mode, Looking Towards 104

USD/JPY Back In Bullish Mode, Looking Towards 104USD/JPY accelerated nicely to the upside in the last few weeks after breaking above 100.60 swing high that represents a wave D) high in a triangle.

Usually when this high is broken it means that triangle is complete and that market is moving impulsively. With that said, we think that prices are in a red wave 3) of (5) moving up towards new highs.

USD/JPY is now in bullish move as long as pair trades above 99.50.


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Technical View on Stocks
Anil ManghnaniRajat BoseVijay BhambwaniAmbareesh BaligaPrakash GabaSudarshan SukhaniAshwani GujralAshu Madan

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