FXIN Trading Co

FXIN Trading Co FXIN-Online currency trading company in India. We offer successful trading platforms and various trading accounts, simple trading tools and 24 hour support

The place for traders either beginner or experienced in trading, FXIN offers whatever trader needs in Forex Trading with exclusive Indian Support team to serve Indian Market. Choose your favorite trading account based on your skill level in online trading. And experience professional trading with advanced trading tools & trading platforms- Meta Trader 4, Tradable and WebTrading platforms.

The USD/JPY bounced sharply from a daily low of 105.26, reached during the US session, settling a few pips above the 106...
19/07/2016

The USD/JPY bounced sharply from a daily low of 105.26, reached during the US session, settling a few pips above the 106.00 level at the end of the day. Despite risk sentiment favored safe-haven assets, the likelihood of fiscal and monetary stimulus in Japan limited demand for the local currency, favoring better its American rival.

The pair has traded as high as 106.31 last week, and the 1 hour chart shows that intraday declines towards the 105.00 level keep attracting buying interest. Also, and in the same chart, the price continues developing well above a bullish 20 SA, currently around 105.15 whilst the technical indicators remain within positive territory, although with no upward strength.

In the 4 hours chart, the Momentum indicator bounced from its 100 level, heading now north ahead of the Asian opening, whilst the RSI indicator also heads higher, around 67, maintaining the risk towards the upside.

Support levels: 105.15 104.70 104.25

Resistance levels: 106.40 106.80 107.25

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The EUR/USD pair closed the week near the lower end of its last three-week range, holding above the 1.1000 figure, but w...
18/07/2016

The EUR/USD pair closed the week near the lower end of its last three-week range, holding above the 1.1000 figure, but with an increasing bearish potential, given that in the daily chart, and despite some intraday spikes beyond it, the pair remained capped by its 200 DMA, around 1.1100, whilst the 20 SMA is also above the current level, with a sharp bearish slope.

In the same chart, the Momentum indicator turned sharply lower and is back within bearish territory, whilst the RSI indicator resumed its decline below its mid-line. Shorter term, and according to the 4 hours chart, the price settled below its moving averages, with the 20 SMA currently around 1.1095, while the technical indicators held below their mid-lines, with no clear directional strength.

As long as below the critical 1.1189 level, the post-Brexit high, the risk will remain towards the downside, with a break below the psychological 1.1000 level required to confirm a new leg south.

Support levels: 1.1050 1.1000 1.0960

Resistance levels: 1.1095 1.1150 1.1190

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US stocks kept rallying, with the DJIA and the S&P closing at fresh all-time highs, but the Nasdaq still struggling to ...
15/07/2016

US stocks kept rallying, with the DJIA and the S&P closing at fresh all-time highs, but the Nasdaq still struggling to hold on to yearly gains. Wall Street surged in midday trading, as another batch of encouraging US data, which included the producer price index, spooked the ghost of an economic slowdown in the world's largest economy.

The DJIA added 134 points or 0.73% to close at 18,506.41, while the S&P surged by 0.53%, to 2,163.75. The Nasdaq Composite advanced 28 points or 0.57% to close at 5,034.06. In the daily chart, the Dow holds near the mentioned close and well above its moving averages, while the Momentum indicator in the mentioned time frame is retreating modestly from overbought levels, rather reflecting the decreasing volume after the close than suggesting an upcoming downward move.

In the same chart, the RSI indicator heads north around 70, in line with further gains. Shorter term, the 4 hours chart shows that technical indicators lack directional strength, but that RSI remains around 80, whilst the 20 SMA keeps leading the way higher, rising alongside with price and providing a critical dynamic resistance in the case of intraday retracements.

Support levels: 18,469 18,390 18,322

Resistance levels: 18,560 18,605 18,660

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Gold prices recovered modestly, with spot settling at $1,343.70 a troy ounce, after briefly dipping to 1,327.51 in early...
14/07/2016

Gold prices recovered modestly, with spot settling at $1,343.70 a troy ounce, after briefly dipping to 1,327.51 in early Asia. The commodity found support in a weaker greenback, whilst political and economical risks remain in the background and any negative news may spur demand for the safe haven asset. Also, supporting the metal in the longer term, is the expected on-hold stance of the US Federal Reserve.

Technically, the daily chart shows that the price recovered after testing a strongly bullish 20 SMA, while also held above the 23.6% retracement of the latest bullish run. In the same chart, the Momentum indicator is bouncing from its 100 line, while the RSI indicator heads north around 57, favoring additional recoveries for this Thursday.

In the shorter term and according to the 4 hours chart, technical indicators recovered from oversold readings, but lost upward strength within negative territory, whilst the price continues developing below a mild bearish 20 SMA, currently at 1,350.70, the level to surpass to confirm a steeper recovery.

Support levels: 1,335.15 1,327.60 1,318.40

Resistance levels: 1,350.70 1,357.70 1,365.90

The FTSE 100 ended the day flat, down by 2 points or 0.03% at 6,680.69, weighed by Pound's strong recovery. The Footsie ...
13/07/2016

The FTSE 100 ended the day flat, down by 2 points or 0.03% at 6,680.69, weighed by Pound's strong recovery. The Footsie surged strongly after the initial Brexit shock, as most of its components are international companies that report earnings in dollars. A weaker Pound, therefore, has boost potential profits, but today's u-turn in the UK currency cooled down the rally. Miners and pharmaceutical equities suffered the most, with Randgold down 4.3% and Fresnillo shedding 2.77%.

The index, however, managed to post a higher high and a higher low daily basis, maintaining the dominant bullish trend alive. Still, and according to the daily chart, the Momentum indicator is diverging lower, whilst the RSI indicator consolidates near overbought level, increasing chances of a downward correction for the upcoming sessions. In the 4 hours chart, the index remains well above a bullish 20 SMA, but the technical indicators are heading lower, holding for now within positive territory, in line with the longer term outlook.

Support levels: 6,620 6,567 6,510

Resistance levels: 6,710 6,765 6,806

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The Australian dollar edged lower against its American rival, with the pair however, holding above the 0.7500 figure. D...
12/07/2016

The Australian dollar edged lower against its American rival, with the pair however, holding above the 0.7500 figure. Despite stocks edged sharply higher worldwide, the Aussie was weighed by the poor performance in commodities, as both gold and oil, were dragged lower by dollar's strength.

The bullish trend in the pair however, persists, with the price developing within an ascendant channel ever since bottoming around 0.7300 after the UK's referendum outcome. The short term picture is bearish, as in the 1 hour chart, the price is developing below a bearish 20 SMA, whilst the technical indicators head modestly lower within negative territory.

In the 4 hours chart, however, the price has bounced from a still bullish 20 SMA, currently the immediate support around 0.7520, whilst the Momentum indicator is bouncing modestly from its 100 level and the RSI indicator hovers around 54, limiting chances of a steeper decline. The key support stands at 0.7450, a major Fibonacci level, with declines towards it probably attracting buying interest.

Support levels: 0.7520 0.7490 0.7450

Resistance levels: 0.7595 0.7640 0.7685

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The USD/JPY pair closed the week dangerously close to the 100.00 figure, with the Japanese currency underpinned by falli...
11/07/2016

The USD/JPY pair closed the week dangerously close to the 100.00 figure, with the Japanese currency underpinned by falling bond yields. The US 10-year benchmark reached an all-time low of 1.37%, whilst European yields tumbled after the UK referendum, on prospects that Central Banks will have to maintain a loose stance and even lower rates further, further pushing investors into safety.

The USD/JPY pair advanced up to 101.27 following the release of US employment data, but quickly shed around 130 pips and flirted with the 100.00 critical figure before bouncing modestly. The upside also remains limited by expectations that the FED will remain on hold longer than previously expected. Elections took place in Japan during the weekend, and Abe's coalition seems poised to win comfortably, which means that the ongoing economic policies will remain in place for longer.

Markets are expecting some additional stimulus coming from the BOJ this month, which means that a steeper decline below the key level is also unlikely for now. Nevertheless, and from a technical point of view, the risk remains towards the downside, as in the daily chart the price keeps moving away from its moving averages, whilst the technical indicators head south around oversold territory. In the 4 hours chart, the Momentum indicator retreats from its mid-line whilst the RSI hovers around 35, as the price develops below bearish 100 and 200 SMAs, in line with the longer term outlook.

Support levels: 100.05 99.70 99.30

Resistance levels: 100.90 101.40 101.85

The Yen finished higher in the market and with a modest positive momentum after a decline in US equities. An increase in...
08/07/2016

The Yen finished higher in the market and with a modest positive momentum after a decline in US equities. An increase in government bond yields did not weaken the Japanese currency neither did better-than-expected US data. USD/JPY rose after the release of labor market data but it failed to hold ground and dropped back below 101.00.

Volatility has been decreasing and the trend could continue going into the Asian and Europeans sessions before the nonfarm payrolls report. Jobs number's impact on the market could be limited considering the current stance of expectations regarding the Federal Reserve monetary policy. The pair continues to move with a bearish bias, currently consolidating between 100.70 and 101.20, expecting the next move.

The 4 hours chart shows price below the 20 SMA and technical indicators starting to turn north; a confirmation above 101.20 would make a stronger case for the upside that would be reinforced with a break of 101.50, clearing the way for more gains. On a wider perspective, the pressure to the downside is still there, and the psychological support around 100.00 is the key in order to avoid another significant leg lower.

Support levels: 100.55 99.70 98.80

Resistance levels: 100.90 101.20 101.50

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Happy Eid Mubark to everyone. May you all have a very happy and blessed . Enjoy these amazing days and remember those w...
07/07/2016

Happy Eid Mubark to everyone. May you all have a very happy and blessed . Enjoy these amazing days and remember those who need our help.

Gold reached fresh 2-year highs on Wednesday as investors’ appeal for safe-havens increased amid lingering political and...
07/07/2016

Gold reached fresh 2-year highs on Wednesday as investors’ appeal for safe-havens increased amid lingering political and economic uncertainty in the aftermath of the Brexit vote. Gold broke above previous 2016 high of $1,358.40 a troy ounce ounce and reached its highest level since March 2014 at $1,375.10/oz during the New York session, although it retreated slightly from it.

The yellow metal has benefitted from the risk-off environment and prospects major central banks - BoE, BoJ - might provide further monetary stimulus over the upcoming months, while the Fed could delay next rate hike on the back of UK referendum. In the daily chart, the technical picture remains bullish, although a phase of consolidation might precede another leg higher given that indicators are in overbought territory.

In 4 hours chart, the outlook is also positive, with RSI having already corrected extreme conditions and turned flat nearby. A clear break above $1,375 would pave the way towards the $1,388 area en-route to $1,400.

Support levels: 1,358.40 1,335.56 1,320.56

Resistance levels: 1,388.45 1,400.00 1,416.34

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US stocks finished lower on Tuesday as Bexit concerns resurfaced following Bank of England’s Financial Stability Report,...
06/07/2016

US stocks finished lower on Tuesday as Bexit concerns resurfaced following Bank of England’s Financial Stability Report, while disappointing US factory orders and a nearly 5% slump in oil prices added further pressure to equities. The Dow Jones Industrial Average lost 108 points, or 0.61% to close at 17,840. The S&P 500 dropped 14 points, or 0.68%, to 2,088.

The Nasdaq Composite fell 39 points, or 0.82% to 4,822. The DJIA perspective has turned less constructive as in the daily charts, indicators turned lower but remain above their mid-lines while the 20- and 100-day SMA crossover stands as key support at 17,710. In the 4 hours chart the picture is mostly neutral, as indicators have turned higher but below their mid-lines, while the index holds above a flat 200 SMA.

Support levels: 17,710 17,655 17,467

Resistance levels: 18,016 18,051 18,118

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The GBP/USD pair remained steady all day, like most of the currencies, hovering around 1.3280. It spiked higher to 1.334...
05/07/2016

The GBP/USD pair remained steady all day, like most of the currencies, hovering around 1.3280. It spiked higher to 1.3340, but pulled back quickly, although it managed to hold above 1.3250 despite economic data. The UK construction PMI report for June showed the worst reading since the financial crisis and surprised market participants with a larger-than-expected decline from 51.2 to 46.0.

UK referendum results have already started to affect the economy. The London stock index dropped 0.84% but it did not affect the pound. Technically, GBP/USD continues to show a bearish tone, with price below moving averages and consolidating near 31-year lows. Price has been able to hold above previous day's lows but so far, no relevant signals of a strong correction are seen.

The 4 hours chart shows price under the 20 SMA that is pointing south. A consolidation below 1.3250 could increase the bearish tone while to the upside, on top of 1.3350 a positive signal for the Pound could emerge, with the price above the 20 SMA and Momentum breaking the 100 line from the downside.

Support levels: 1.3250 1.3205 1.3150

Resistance levels: 1.3340 1.3410 1.3490

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