DAILY ANALYSIS REPORT FEBRUARY-02-2021

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Time Frame

H1

Commentary :  The Aussie weakens sharply after RBA’s Monetary Policy Statement as RBA kept interest rate unchanged as expected. The pair made intraday high at $0.7661 and low at $0.7616 mark. Here both RSI and EMA confirm the bearish trend on H1 chart, while triple EMA still confirms upside movement on a Day Chart. A sustained close below $0.7602 will check key supports. Alternatively, reversal from hey support will drag the parity back above $0.7650 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 : 0.76101
– Take Profit : 0.76964– Take Profit : 0.75829
– Stop Loss : 0.76416– Stop Loss : 0.76441

Commentary : The euro reverses previous loss against U.S. dollar and trades marginally higher on Tuesday. On a day chart, triple EMA still suggests the trend reversal while H1 chart confirms the bearish trend. Here, yesterday’s close and today’s low are same as $1.2059 mark. A consistent close below requires for the downside rally. Otherwise, current upside trend will take the parity back above $1.21 mark.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2128S11.2058
R21.2160S21.2040
R31.2232S31.2001
R41.2265S41.1922
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.21046 Sell Below : 1.20606
– Take Profit : 1.21297  – Take Profit : 1.20395
– Stop Loss : 1.20784  – Stop Loss : 1.20831

Commentary :  The pound exhibits range bound movement and consolidates around $1.3690 mark. Both RSI and triple EMA support the uptrend. The key boundaries for the parity will be $1.3703 and $1.3658 mark. A sustained close of either side will get further directions to the parity.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below  RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3740S11.3658
R21.3762S21.3622
R31.3802S31.3600
R41.3844S41.3552
BUYSELL
  
Buy Above : 1.37203Sell Below : 1.36743
– Take Profit : 1.37560  – Take Profit : 1.36433
– Stop Loss : 1.36779  – Stop Loss : 1.37101

Commentary : The Canadian dollar trades marginally higher on Tuesday and trading around 1.2830 mark. On a day chart, triple EMA supports the bearish trend while on H1 chart, triple EMA and RSI confirm up trend. The key range for the day will be 1.2840 and 1.2810 mark. A sustained close of either side will only provide further direction of the parity.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2840S11.2810
R21.2882S21.2780
R31.2902S31.2735
R41.2957S41.2690
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.28589Sell Below : 1.28023
– Take Profit : 1.28872  – Take Profit : 1.27701
– Stop Loss : 1.28296  – Stop Loss : 1.28408

Commentary :  The Japanese yen moves in stiff boundaries on Tuesday and breaks key hurdle at 104.90 mark. The pair remains well supported above triple EMA and thus signifies bullish trend for the time being. A daily close below 104.10 will check key supports. On the top side, a consistent close above 104.92 requires for the upside rally.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1105.42S1104.10
R2105.94S2103.57
R3106.26S3102.90
R4106.50S4102.50
BUYSELL
Trade IdeaTrade Idea
Buy Above : 105.047Sell Below : 104.776
– Take Profit : 105.307  – Take Profit : 104.536
– Stop Loss : 104.778  – Stop Loss : 105.035

Commentary : Gold weakens on Tuesday and faces key hurdle to break $1,872 mark. On a Day Chart, both RSI and EMA signal the bearish trend. Alternatively, a sustained close above $1,872 requires for the upside rally. In addition, key downside hurdle is seen at $1,847 mark. A consistent close below will check further supports too. Today no key economic indicators are schedule to release from the U.S.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11867S11847
R21872S21840
R31884S31832
R41892S41820
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1862.53Sell Below : 1848.56
– Take Profit : 1870.53  – Take Profit : 1841.42
– Stop Loss : 1852.67  – Stop Loss : 1858.88

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