DAILY ANALYSIS REPORT FEBRUARY-08-2021

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Time Frame

H1

Commentary :  The Aussie recovers sharply from previous losses and stabilizes well above $0.7650 mark. For the intraday trading purpose, both RSI and triple EMA confirm the bullish trend. The pair made intraday high at $0.7681 and low at $0.7666 mark. A sustained close above $0.7676 on a Day will check key resistances. Alternatively, reversal will test key supports too.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7684S10.7590
R20.7700S20.7532
R30.7743S30.7520
R40.7799S40.7500
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.76915Sell Below : 0.76475
– Take Profit : 0.77176– Take Profit : 0.76227
– Stop Loss : 0.76634– Stop Loss : 0.76782

Commentary : The euro starts a new week on a flat note and hovers around $1.2040 mark. Today German industrial production results may give further direction to the parity. On H1 chart, pair confirms the uptrend while on a Day chart, the parity suggest the bearish trend. A sustained close above $1.2050 on a day chart will check further resistances. Alternatively, a slip below $1.2020 will drag the parity back below $1.19 mark.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2054S11.2020
R21.2087S21.1957
R31.2122S31.1922
R41.2170S41.1900
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.20702 Sell Below : 1.20006
– Take Profit : 1.21100  – Take Profit : 1.19656
– Stop Loss : 1.20269  – Stop Loss : 1.20384

Commentary : The pound remains very strong against U.S. dollar and consolidates around $1.3730 mark. On the top side, key hurdle is observed at $1.3758 mark. A break above will check key resistances. Alternatively, reversal from it will test key supports at $1.3640 mark. The key boundaries for the parity will be $1.3758 to $1.3701 mark. A successful close of either side on a Day Chart 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                                     –
R11.3758S11.3700
R21.3802S21.3637
R31.3838S31.3590
R41.3876S41.3520
BUYSELL
  
Buy Above : 1.37504Sell Below : 1.36984
– Take Profit : 1.37852  – Take Profit : 1.36648
– Stop Loss : 1.37139  – Stop Loss : 1.37355

Commentary : The Canadian dollar exhibits range bound movement and moves in between key hurdles from 1.2850 to 1.2630 mark. Triple EMA and RSI support the bearish trend on a Day Chart and H1 chart too. 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                                    –
R11.2784S11.2735
R21.2850S21.2690
R31.2902S31.2630
R41.2934S41.2600
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.27891Sell Below : 1.27386
– Take Profit : 1.28210  – Take Profit : 1.27119
– Stop Loss : 1.27537  – Stop Loss : 1.27686

Commentary :  The Japanese yen depreciates after mixed economic data. Here the triple EMA as well as RSI confirm the uptrend for the time being. A sustained close above 105.50 on a Day Chart requires for the upside rally. Alternatively, a fall below 105.10 will check key supports too.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1105.94S1104.90
R2106.26S2104.22
R3106.50S3103.60
R4106.88S4102.92
BUYSELL
Trade IdeaTrade Idea
Buy Above : 105.592Sell Below : 105.311
– Take Profit : 105.801  – Take Profit : 105.072
– Stop Loss : 105.300  – Stop Loss : 105.572

Commentary : Gold remains volatile in Asian hours and jumps back above $1,800 mark. The pair made intraday high at $1,818 and low at $1,808 mark. Today no key fundamental are scheduled from the U.S. but as observed earlier, in the absence of key indicators from the U.S., gold might face extreme volatility during the U.S. session. On a Day Chart, triple EMA signals the bearish trend, while on H1 chart, gold moves in stiff boundaries suggesting sideways movement for the time being. A consistent close above $1,818 on H1 chart may bring some upside rally. Alternatively, a sustained close below $1,802 will check further key supports.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11818S11802
R21822S21792
R31827S31785
R41840S41764
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1815.75Sell Below : 1805.81
– Take Profit : 1824.36  – Take Profit : 1798.52
– Stop Loss : 1808.35  – Stop Loss : 1813.14

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Risk Warning: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note that even knowledgeable and well-experienced investors can experience large potential losses as a result of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc. This site is run and operated by - TP Global Services Limited registered by St. Vincent and the Grenadines with Number 25274 BC 2019. Registered office: Suite 305, Griffith Corporate Centre, Beachmont, P.O.Box 1510, Kingstown Saint Vincent and the Grenadines

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