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.
Indicators
H1
Trends
Down Trend
Moving Average (Period=75)
Below MA
RSI (Period=26)
Below RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
0.7640
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 : 0.76411
Sell Below : 0.75901
– Take Profit : 0.76751
– Take Profit : 0.75629
– Stop Loss : 0.76042
– Stop Loss : 0.76242
EUR / USD
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.
Indicators
H1
Trends
Down Trend
Moving Average (Period=75)
Below MA
RSI (Period=26)
Below RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
1.2087
S1
1.2040
R2
1.2120
S2
1.2001
R3
1.2162
S3
1.1962
R4
1.2232
S4
1.1922
BUY
SELL
Trade Idea
Trade 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
GBP / USD
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.
Indicators
H1
Trends
Down Trend
Moving Average (Period=75)
Below MA
RSI (Period=26)
Below RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
1.3682
S1
1.3648
R2
1.3740
S2
1.3622
R3
1.3762
S3
1.3600
R4
1.3802
S4
1.3552
BUY
SELL
Buy Above : 1.36859
Sell Below : 1.36488
– Take Profit : 1.37108
– Take Profit : 1.36177
– Stop Loss : 1.36568
– Stop Loss : 1.36846
USD / CAD
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.
Indicators
H1
Trends
DOWN Trend
Moving Average (Period=75)
Belove MA
RSI (Period=26)
Belove RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
1.2790
S1
1.2765
R2
1.2840
S2
1.2735
R3
1.2882
S3
1.2690
R4
1.2902
S4
1.2647
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 1.28097
Sell Below : 1.27596
– Take Profit : 1.28381
– Take Profit : 1.27375
– Stop Loss : 1.27805
– Stop Loss : 1.27868
USD / JPY
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.
Indicators
H1
Trends
Up Trend
Moving Average (Period=75)
Above MA
RSI (Period=26)
Above RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
105.42
S1
104.90
R2
105.94
S2
104.22
R3
106.26
S3
103.60
R4
106.50
S4
102.92
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 105.092
Sell Below : 104.846
– Take Profit : 105.236
– Take Profit : 104.606
– Stop Loss : 104.939
– Stop Loss : 105.105
GOLD
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.
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