Commentary : The Aussie starts a new week on a positive note ahead of RBA’s interest rate decision due tomorrow. The pair made intraday high at $0.7654 and low at $0.7605 mark. Here both RSI and MA confirm the uptrend for the time being. A sustained close below $0.7602 will check key supports. Alternatively current upside trend will take the parity back above $0.78 mark.
Indicators
H1
Trends
Down Trend
Moving Average (Period=75)
Below MA
RSI (Period=26)
Below RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
0.7676
S1
0.7602
R2
0.7712
S2
0.7590
R3
0.7776
S3
0.7520
R4
0.7854
S4
0.7500
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 0.76707
Sell Below : 0.76182
– Take Profit : 0.76964
– Take Profit : 0.75907
– Stop Loss : 0.76416
– Stop Loss : 0.76552
EUR / USD
Commentary : The euro trades flat ahead of manufacturing PMI results from the euro area and stabilizes above $1.21 mark. On H1 chart, both RSI and EMA confirm the bullish trend for the time being. The key range for the parity will be $1.2140 and $1.2074 mark. A successful close of either side on a day chart will provide outlook in short run.
Indicators
H1
Trends
Up Trend
Moving Average (Period=75)
Above MA
RSI (Period=26)
Above RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
1.2128
S1
1.2074
R2
1.2160
S2
1.2040
R3
1.2232
S3
1.2001
R4
1.2265
S4
1.1922
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 1.21488
Sell Below : 1.21147
– Take Profit : 1.21739
– Take Profit : 1.20909
– Stop Loss : 1.21214
– Stop Loss : 1.21372
GBP / USD
Commentary : The pound rises gradually against U.S. dollar and confirms the bullish trend in long run. Both RSI and EMA support the uptrend. The key boundaries for the parity will be $1.3740 and $1.3675 mark. A sustained close of either side will get further directions to the parity. U.K.’s interest rate decision is also due to release on Feb 04. It will provide further direction to the parity.
Indicators
H1
Trends
Up Trend
Moving Average (Period=75)
Above MA
RSI (Period=26)
Above RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
1.3740
S1
1.3640
R2
1.3762
S2
1.3622
R3
1.3802
S3
1.3600
R4
1.3844
S4
1.3552
BUY
SELL
Buy Above : 1.37639
Sell Below : 1.37061
– Take Profit : 1.37996
– Take Profit : 1.36758
– Stop Loss : 1.37212
– Stop Loss : 1.37373
USD / CAD
Commentary : The Canadian dollar recovers previous losses against U.S. dollar and slips back below 1.28 mark. The RSI and EMA suggest the bearish trend in short run. The key event from Canada will be job results due on Feb 05 to get the further movement.
Indicators
H1
Trends
Down Trend
Moving Average (Period=75)
Below MA
RSI (Period=26)
Below RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
1.2882
S1
1.2780
R2
1.2902
S2
1.2735
R3
1.2940
S3
1.2690
R4
1.3009
S4
1.2630
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 1.28225
Sell Below : 1.27330
– Take Profit : 1.28706
– Take Profit : 1.26907
– Stop Loss : 1.27723
– Stop Loss : 1.27715
USD / JPY
Commentary : The Japanese yen erases previous loss against U.S. dollar and trades marginally higher on Monday. The pair successfully surpasses key resistance at 104.50 mark and stabilizes above it. A daily close below 104.10 will check key supports. The EMA confirms the bullish trend after successful crossover above the trend lines.
Indicators
H1
Trends
Up Trend
Moving Average (Period=75)
Above MA
RSI (Period=26)
Above RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
104.90
S1
104.10
R2
105.40
S2
103.57
R3
105.94
S3
102.90
R4
106.50
S4
102.50
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 104.822
Sell Below : 104.484
– Take Profit : 105.081
– Take Profit : 104.283
– Stop Loss : 104.552
– Stop Loss : 104.707
GOLD
Commentary : Gold strengthens on Monday and touches $1,867 mark. The RSI confirms the uptrend on a day basis but EMA still signals the down trend in short run. Key boundaries for the parity will be $1,870 and $1,852 mark. A consistent break of either side will provide further directions to the parity. Important to note here that, Friday’s close and today’s low are same at $1,847 mark. Thus, a consistent close will only check bearish trend.
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