DAILY ANALYSIS REPORT FEBRUARY-01-2021

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Time Frame

H1

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.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7676S10.7602
R20.7712S20.7590
R30.7776S30.7520
R40.7854S40.7500
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.76707Sell Below : 0.76182
– Take Profit : 0.76964– Take Profit : 0.75907
– Stop Loss : 0.76416– Stop Loss : 0.76552

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.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2128S11.2074
R21.2160S21.2040
R31.2232S31.2001
R41.2265S41.1922
BUYSELL
Trade IdeaTrade 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

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.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3740S11.3640
R21.3762S21.3622
R31.3802S31.3600
R41.3844S41.3552
BUYSELL
  
Buy Above : 1.37639Sell Below : 1.37061
– Take Profit : 1.37996  – Take Profit : 1.36758
– Stop Loss : 1.37212  – Stop Loss : 1.37373

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.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2882S11.2780
R21.2902S21.2735
R31.2940S31.2690
R41.3009S41.2630
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.28225Sell Below : 1.27330
– Take Profit : 1.28706  – Take Profit : 1.26907
– Stop Loss : 1.27723  – Stop Loss : 1.27715

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.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1104.90S1104.10
R2105.40S2103.57
R3105.94S3102.90
R4106.50S4102.50
BUYSELL
Trade IdeaTrade Idea
Buy Above : 104.822Sell Below : 104.484
– Take Profit : 105.081  – Take Profit : 104.283
– Stop Loss : 104.552  – Stop Loss : 104.707

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.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11867S11847
R21872S21840
R31884S31832
R41892S41820
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1869.57Sell Below : 1848.65
– Take Profit : 1883.20  – Take Profit : 1838.05
– Stop Loss : 1856.20  – Stop Loss : 1860.70

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