Forex Forecasting & Trade Recommendation Service Indian Rupee Forecast
Morning Briefing

At a Glance


We have introduced a new FREE service/ tool called "At a Glance" (see below), which may be used in conjunction with, or independent of, our trade recommendation service "FX Thoughts for the Day". To use this service/ tool, you need to be a Registered User/ Subscriber of "FX Thoughts for the Day".

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FXThoughts - At a Glance
Updated at  11:31 IST   or 6:01 GMT or 1:01 EST on 6-Mar-13 www.fxthoughts.com
    Colour Guide Sup 1 Sup 2 Sup 3 Indecisive      
    Resist 1 Resist 2 Resist 3         Frequently Asked Questions  
                             
                      Economic Calendar  
  EURO           JAPANESE YEN          
  Date 6-Mar-2013 Time Frame   Date 6-Mar-2013 Time Frame  
  Market 1.3062 Weekly 3-Day Daily 4-Hour   Market 93.08 Weekly 3-Day Daily 4-Hour  
    Max High 1.3180 1.3154 1.3152       Max High 94.68 94.09 94.35    
                 
      Down…R Down…R Up…S Up…S       Down…R Down…R Up…S Down…R  
    Level 1 1.3197 1.3134 1.3057 1.3047     Level 1 93.19 93.10 92.71 93.19  
    Pips Move -0.0136 -0.0073 0.0004 0.0015     Pips Move -0.10 -0.01 0.37 -0.10  
    % Move -1.03% -0.55% 0.03% 0.11%     % Move -0.11% -0.01% 0.40% -0.11%  
                 
      Down…R Down…R Down…R Up…S       Up…S Down…R Up…S Down…R  
    Level 2 1.3297 1.3258 1.3143 1.3032     Level 2 92.46 93.14 93.02 93.30  
    Pips Move -0.0236 -0.0197 -0.0081 0.0030     Pips Move 0.63 -0.06 0.06 -0.21  
    % Move -1.77% -1.48% -0.62% 0.23%     % Move 0.68% -0.06% 0.07% -0.23%  
                 
      Down…R Down…R Down…R Up…S       Up…S Up…S Down…R Down…R  
    Level 3 1.3258 1.3310 1.3246 1.3035     Level 3 90.05        91.93 93.17 93.17  
    Pips Move -0.0197 -0.0249 -0.0184 0.0027     Pips Move 3.04 1.15 -0.09 -0.09  
    % Move -1.49% -1.87% -1.39% 0.20%     % Move 3.37% 1.25% -0.09% -0.09%  
                 
    Max Low 1.2875 1.2902 1.2955       Max Low 91.94 92.53 92.00    
                             
                             
  EURO-YEN Cross           SWISS FRANC          
  Date 6-Mar-2013 Time Frame    Date 6-Mar-2013 Time Frame  
  Market 121.60 Weekly 3-Day Daily 4-Hour    Market 0.9405 Weekly 3-Day Daily 4-Hour  
    Max High 124.27 123.78 123.91       Max High 0.9560 0.9508 0.9470    
                 
      Down…R Down…R Up…S Up…S       Up…S Up…S Up…S Down…R  
    Level 1 122.98 122.29 121.00 121.59     Level 1 0.9302 0.9338 0.9368 0.9406  
    Pips Move -1.39 -0.70 0.60 0.01     Pips Move 0.0103 0.0067 0.0037 -0.0001  
    % Move -1.13% -0.57% 0.50% 0.00%     % Move 1.11% 0.71% 0.40% -0.01%  
                 
      Down…R Down…R Down…R Up…S       Up…S Up…S Up…S Down…R  
    Level 2 122.94 122.85 122.27 121.59     Level 2 0.9274 0.9264 0.9329 0.9412  
    Pips Move -1.34 -1.25 -0.67 0.00     Pips Move 0.0131 0.0141 0.0076 -0.0007  
    % Move -1.09% -1.02% -0.55% 0.00%     % Move 1.41% 1.53% 0.82% -0.07%  
                 
      Up…S Down…R Down…R Up…S       Up…S Up…S Up…S Down…R  
    Level 3 119.41 122.38 123.43 121.46     Level 3 0.9232 0.9263 0.9271 0.9405  
    Pips Move 2.19 -0.78 -1.83 0.14     Pips Move 0.0173 0.0142 0.0134 0.0000  
    % Move 1.83% -0.64% -1.48% 0.11%     % Move 1.87% 1.53% 1.45% 0.00%  
                 
    Max Low 118.82 119.30 119.43       Max Low 0.9272 0.9324 0.9347    
                             
                             
  STERLING POUND           AUSSIE DOLLAR          
  Date 6-Mar-2013 Time Frame    Date 6-Mar-2013 Time Frame  
  Market 1.5143 Weekly 3-Day Daily 4-Hour    Market 1.0281 Weekly 3-Day Daily 4-Hour  
    Max High      1.5180 1.5158 1.5255       Max High 1.0248 1.0216 1.0322    
                 
      Down…R Down…R Up…S Up…S       Up…S Up…S Up…S Up…S  
    Level 1 1.5330 1.5203 1.5127 1.5138     Level 1 1.0276 1.0244 1.0227 1.0246  
    Pips Move -0.0186 -0.0060 0.0017 0.0005     Pips Move 0.0005 0.0037 0.0054 0.0035  
    % Move -1.22% -0.39% 0.11% 0.04%     % Move 0.05% 0.36% 0.53% 0.34%  
                 
      Down…R Down…R Down…R Up…S       Down…R Down…R Up…S Up…S  
    Level 2 1.5496 1.5376 1.5196 1.5109     Level 2 1.0343 1.0286 1.0254 1.0210  
    Pips Move -0.0352 -0.0233 -0.0053 0.0035     Pips Move -0.0061 -0.0004 0.0028 0.0071  
    % Move -2.27% -1.51% -0.35% 0.23%     % Move -0.59% -0.04% 0.27% 0.70%  
                 
      Down…R Down…R Down…R Up…S       Down…R Down…R Up…S Up…S  
    Level 3 1.5743 1.5564 1.5361 1.5099     Level 3 1.0393 1.0366 1.0276 1.0209  
    Pips Move -0.0599 -0.0420 -0.0217 0.0044     Pips Move -0.0111 -0.0084 0.0005 0.0073  
    % Move -3.81% -2.70% -1.41% 0.29%     % Move -1.07% -0.81% 0.05% 0.89%  
                             
    Max Low 1.5017 1.5038 1.5021       Max Low 1.0155 1.0188 1.0217    
                             


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FREQUENTLY ASKED QUESTIONS

Q. What are the advantages of "At a Glance"?

As the name suggests, the advantage is that you get to see where the Price is in relation to relevant MAs across various time frames, all at a glance. It also helps you identify significant Supports and Resistances fast.

The Pips Move and % Move tells you how far the Price is from the relevant MAs.


Q. Is it a summary tool for the market?

Yes, it is a Summary tool of the market. Its a Snapshot of the market at a point of time. Please note, it is NOT a Prediction or a Buy/ Sell recommendation.


Q. Is it a decision making support tool?

It is, for it helps you identify Supports and Resistances and thus plan your trade better.


Q. What are its limitations?

"At a Glance" can be used very well for identifying Supports/ Resistances in an Uptrend/ Downtrend. But, it is limited to the extent that it does not suggest where good Resistances/ Supports might be in an Uptrend/ Downtrend. Thus, "At a Glance" is an important PART of a trading system, but it is not a complete trading system in itself.

Q. There are figures under green, orange and other colors. What do the colors mean?

We use colours in "At a Glance" to serve 2 pusposes. Firstly to identify those MAs which happen to be close to each other, even if they are in different time periods. If there are 2-3 MAs in the same region (within 5-20 pips of each other), it implies that that particular region is a stronger (than usual) support/ resistance as the case may be.

For instance, for Euro today we have Supports at 1.1659 (1st MA on 4-hourly), at 1.1648 (2nd MA on 4-hourly) and 1.1643 (1st MA on Daily). So, this is likely to be a strong/ crucial Support for Euro. All three Supports have been marked in Blue. As regards Resistances, the first Resistance is projected at 1.1739 (marked in Yellow). Thereafter, the second Resistance level comes in a 1.1808 (on the Weekly) and at 1.1818 (on the Daily). Since these two are very close to each other, they've been marked in the same colour (Orange).

This brings us to the second use of colours.

Colour Guide: Support 1 Support 2 Supporr 3 Indecisive
Resistance 1 Resistance 2 Resistance 3

This is a means to quickly identify the crucial levels in the market so that trades can be planned better. Many a times, successful trading is not about determining where the market will go, but rather about planning what to do when the market reaches any particular point.


If you have any further questions, please write to us at
info@kshitij.com We shall be glad to be of service.


Happy Trading!


DISCLAIMER
These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsible for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.


WARNING !!
Visitors should be aware that Foreign Exchange transactions and trading are or can be subject to laws, rules and regulations of the country in which the entity undertaking the transactions is situated. It is incumbent upon the Visitors to keep themselves informed and abreast of the Laws they are (or would be expected to be) subject to and governed by, and act in accordance thereto.


 
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