DAILY ANALYSIS REPORT FEBRUARY-03-2021

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Time Frame

H1

Commentary :  The Aussie remains unchanged despite RBA Gov Lowe’s speech. There was nothing new in the speech, which makes the AUD volatile but can take his words to predict future movement. The pair made intraday high at $0.7620 and low at $0.7601 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 above $0.7640 will check key resistances. Alternatively, reversal from hey resistance will drag the parity back below $0.7570 mark.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7640S10.7602
R20.7712S20.7590
R30.7776S30.7520
R40.7854S40.7500
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.76411Sell Below : 0.75901
– Take Profit : 0.76751– Take Profit : 0.75629
– Stop Loss : 0.76042– Stop Loss : 0.76242

Commentary : The euro trades flat on Wednesday and hovers around $1.2040 mark. On a day chart, triple EMA is about to crossover which will signify bearish trend while H1 chart has already confirmed the bearish trend. Today various key economic indicators are schedule to release from the euro zone, which will provide further direction to the parity.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2087S11.2040
R21.2120S21.2001
R31.2162S31.1962
R41.2232S41.1922
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.20683 Sell Below : 1.20266
– Take Profit : 1.20934  – Take Profit : 1.20028
– Stop Loss : 1.20421  – Stop Loss : 1.20511

Commentary :  The pound continues to trade in stiff boundaries and remains well supported below $1.37 mark. Both RSI and triple EMA support down trend on H1 chart. The key boundaries for the parity will be $1.3682 and $1.3648 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                                     –
R11.3682S11.3648
R21.3740S21.3622
R31.3762S31.3600
R41.3802S41.3552
BUYSELL
  
Buy Above : 1.36859Sell Below : 1.36488
– Take Profit : 1.37108  – Take Profit : 1.36177
– Stop Loss : 1.36568  – Stop Loss : 1.36846

Commentary : The Canadian dollar moves in rigid boundaries on Wednesday and stabilizes around 1.2780 mark. On a day chart and H1 chart, triple EMA and RSI support the bearish trend. The key range for the day will be 1.2790 and 1.2765 mark. A sustained close of either side will only provide further direction of the parity.
IndicatorsH1
TrendsDOWN Trend
Moving Average (Period=75)Belove MA
RSI (Period=26)Belove RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2790S11.2765
R21.2840S21.2735
R31.2882S31.2690
R41.2902S41.2647
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.28097Sell Below : 1.27596
– Take Profit : 1.28381  – Take Profit : 1.27375
– Stop Loss : 1.27805  – Stop Loss : 1.27868

Commentary :  The Japanese yen falls gradually against U.S. dollar and jumps back above 105.00 mark. Here the triple EMA as well as RSI confirm the uptrend for the time being. On the top side, key hurdle seen at 105.42 mark. A sustained close above requires for the upside rally. Alternatively, reversal will check key supports too.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1105.42S1104.90
R2105.94S2104.22
R3106.26S3103.60
R4106.50S4102.92
BUYSELL
Trade IdeaTrade Idea
Buy Above : 105.092Sell Below : 104.846
– Take Profit : 105.236  – Take Profit : 104.606
– Stop Loss : 104.939  – Stop Loss : 105.105

Commentary : Gold depreciated sharply on previous session and touched $1,829 mark. Today pair recovers a little bit and jumps back above $1,840 mark. On a Day Chart, both RSI and EMA signal the bearish trend. A consistent close above $1,847 on H1 chart may bring some upside rally. Alternatively, a sustained close below $1,828 will check further key hurdles. Important to keep in mind, as U.S. has scheduled to release ADP Employment Change results and ISM services PMI data. It will bring market volatility and provides further direction to the parity.
IndicatorsH1
TrendsDOWN Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11847S11832
R21854S21828
R31862S31820
R41876S41812
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1850.65Sell Below : 1833.68
– Take Profit : 1858.42  – Take Profit : 1828.85
– Stop Loss : 1842.38  – Stop Loss : 1839.24

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