DAILY ANALYSIS REPORT FEBRUARY-05-2021

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Time Frame

H1

Commentary :  The Aussie falls gradually against U.S. dollar and slips back below $0.76 mark. On a day chart, triple EMA still confirms the uptrend only while on H1 chart, it confirms bearish trend. The pair made intraday high at $0.7608 and low at $0.7583 mark. A sustained close above $0.7622 on a Day will check key resistances. Alternatively, current downside movement will test key supports. Today in early Asia, RBA Gov Lowe’s speech failed to bring volatility in the AUD parity. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7622S10.7590
R20.7684S20.7532
R30.7743S30.7520
R40.7799S40.7500
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.76198Sell Below : 0.75669
– Take Profit : 0.76569– Take Profit : 0.75381
– Stop Loss : 0.75833– Stop Loss : 0.76129

Commentary :  The euro trades marginally lower on Friday and trading around $1.1950 mark. Here the RSI and triple EMA confirm the bearish trend. A sustained close below $1.1922 on a Day Chart will check key supports and reversal from it will drag the parity back above $1.2000 mark. Today German Factory orders data (0700 GMT) may bring some volatility in Euro Parity.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2000S11.1922
R21.2040S21.1900
R31.2074S31.1876
R41.2122S41.1840
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.19900 Sell Below : 1.19305
– Take Profit : 1.20163  – Take Profit : 1.18727
– Stop Loss : 1.19607  – Stop Loss : 1.19789

Commentary :  The pound remained extremely volatile in previous session after BOE’s interest rate decision and monetary policy. BOE Gov delayed applying negative interest rate and showed his hope of recovery. The sterling spiked up sharply after his hawkish tone and recovered from $1.3566 to $1.3698 mark. Today pair trades flat and stabilizes above $1.3650 mark. Both RSI and triple EMA confirm the bullish trend on Day as well as H1 chart. The key boundaries for the parity will be $1.3637 to $1.3701 mark. A successful close of either side 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                                     –
R11.3701S11.3637
R21.3740S21.3567
R31.3762S31.3520
R41.3802S41.3490
BUYSELL
  
Buy Above : 1.37057Sell Below : 1.36516
– Take Profit : 1.37405  – Take Profit : 1.36212
– Stop Loss : 1.36692  – Stop Loss : 1.36917

Commentary :  The Canadian dollar trades marginally lower on Friday ahead of Canada’s employment change data and remains well supported above 1.28 mark. On H1 chart, triple EMA and RSI support the bullish trend but on a Day Chart triple EMA still suggests bearish trend. It simply signifies short term trend reversal is likely. 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
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2840S11.2775
R21.2882S21.2735
R31.2902S31.2690
R41.2934S41.2647
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.28469Sell Below : 1.28060
– Take Profit : 1.28668  – Take Profit : 1.27849
– Stop Loss : 1.28183  – Stop Loss : 1.28338

Commentary : The Japanese yen continues to trade lower on Friday and breaks key resistance at 105.42 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 105.94 mark. A sustained close above on a Day Chart requires for the upside rally. Alternatively, reversal will check key supports too. Today Japan released strong household spending data but Japanese yen fails to strengthen after it. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1105.94S1104.90
R2106.26S2104.22
R3106.50S3103.60
R4106.88S4102.92
BUYSELL
Trade IdeaTrade Idea
Buy Above : 105.758Sell Below : 105.318
– Take Profit : 106.037  – Take Profit : 105.165
– Stop Loss : 105.461  – Stop Loss : 105.497

Commentary : Gold plunges drastically and touched $1,885 mark on robust U.S. economy recovery. Throughout the week, U.S. has released key economic indicators with positive numbers only. As a result, gold sinks below $1,800 mark. Today the key event for the day will be U.S. NFP Employment Change data. The pair made intraday high at $1,797 and low at $1,792 mark. On a Day Chart, both RSI and EMA signal the bearish trend. A consistent close above $1,808 on H1 chart may bring some upside rally. Alternatively, a sustained close below $1,785 will check further key supports.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11808S11792
R21815S21785
R31822S31776
R41827S41768
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1804.21Sell Below : 1790.32
– Take Profit : 1809.72  – Take Profit : 1783.04
– Stop Loss : 1798.76  – Stop Loss : 1797.66

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