DAILY ANALYSIS REPORT FEBRUARY-04-2021

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Time Frame

H1

Commentary :  The Aussie rises gradually against U.S. dollar and fails to find support below $0.76 mark. On a day chart, triple EMA still confirms the uptrend only. The pair made intraday high at $0.7647 and low at $0.7614 mark. 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
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7640S10.7602
R20.7712S20.7590
R30.7776S30.7520
R40.7854S40.7500
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.76534Sell Below : 0.75995
– Take Profit : 0.76874– Take Profit : 0.75672
– Stop Loss : 0.76165– Stop Loss : 0.76455

Commentary : The euro depreciates on Thursday and trading around $1.2020 mark. Here the RSI and triple EMA confirm the bearish trend. A sustained close below $1.2001 on a Day Chart will check key supports and reversal from it will drag the parity back above $1.2060 mark.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2060S11.2001
R21.2087S21.1962
R31.2122S31.1922
R41.2162S41.1900
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.20468 Sell Below : 1.20013
– Take Profit : 1.20730  – Take Profit : 1.19775
– Stop Loss : 1.20174  – Stop Loss : 1.20258

Commentary : The pound falls extremely ahead of U.K.’s interest rate decision. On a H1 chart, both RSI and triple EMA confirms the bearish trend but on a Day Chart triple EMA still suggests bullish trend in a long run. The key boundaries for the parity will be $1.3565 to $1.3665 mark. A successful close of either side 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                                     –
R11.3682S11.3584
R21.3740S21.3565
R31.3762S31.3520
R41.3802S41.3490
BUYSELL
  
Buy Above : 1.36571Sell Below : 1.35939
– Take Profit : 1.36821  – Take Profit : 1.35635
– Stop Loss : 1.36281  – Stop Loss : 1.36217

Commentary : The Canadian dollar trades marginally lower on Thursday and hovers around 1.28 mark. On a day chart and H1 chart, triple EMA and RSI support the bearish trend. The key range for the day will be 1.2840 and 1.2775 mark. A sustained close of either side will only provide further direction of the parity.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2805S11.2775
R21.2840S21.2735
R31.2882S31.2690
R41.2902S41.2647
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.28189Sell Below : 1.27771
– Take Profit : 1.28453  – Take Profit : 1.27550
– Stop Loss : 1.27854  – Stop Loss : 1.28043

Commentary :  The Japanese yen weakens drastically and remains well supported above 105.00 mark. Here the triple EMA as well as RSI confirm the uptrend for the time being. On the top side, key resistance is seen at 105.42 mark. A sustained close above on a Day Chart requires for the upside rally. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1105.42S1104.90
R2105.94S2104.22
R3106.26S3103.60
R4106.50S4102.92
BUYSELL
Trade IdeaTrade Idea
Buy Above : 105.259Sell Below : 104.973
– Take Profit : 105.403  – Take Profit : 104.820
– Stop Loss : 105.106  – Stop Loss : 105.151

Commentary : Gold falls extremely and breaks key hurdle at $1,820 mark. On a Day Chart, both RSI and EMA signal the bearish trend. A consistent close above $1,832 on H1 chart may bring some upside rally. Alternatively, a sustained close below $1,820 will check further key hurdles. Today U.S. will release Factory Orders 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                                     –
R11832S11817
R21840S21812
R31847S31808
R41854S41798
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1826.58Sell Below : 1818.19
– Take Profit : 1831.55  – Take Profit : 1813.37
– Stop Loss : 1821.81  – Stop Loss : 1824.78

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