DAILY ANALYSIS REPORT FEBRUARY-09-2021

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Time Frame

H1

Commentary : The Aussie spikes up on the back of higher than expected NAB business confidence and business survey data. The pair made intraday high at $0.7731 and low at $0.7696 mark. For the intraday trading purpose, both RSI and triple EMA confirm the bullish trend. A sustained close above $0.7750 on a Day chart requires for the upside rally. On the bottom side, key hurdle is seen at $0.7690 mark.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7743S10.7690
R20.7799S20.7638
R30.7820S30.7590
R40.7878S40.7522
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.77452Sell Below : 0.76950
– Take Profit : 0.77668– Take Profit : 0.76702
– Stop Loss : 0.77205– Stop Loss : 0.77257

Commentary : The euro rises on Tuesday and touches $1.2082 mark in Asian hours. On H1 chart, bullish trend in observed while on a Day chart, triple EMA still showing bearish pattern for the time being. Key boundaries for the parity will be $1.2087 to $1.2032 mark. A consistent break of either side on hourly chart will provide further directions to the parity.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2087S11.2032
R21.2122S21.1957
R31.2170S31.1922
R41.2224S41.1900
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.20944 Sell Below : 1.20384
– Take Profit : 1.21172  – Take Profit : 1.20035
– Stop Loss : 1.20623  – Stop Loss : 1.20675

Commentary : The pound appreciates on Tuesday and hits highest level since April 2018. Despite the trade obstacles after Brexit, GBP remains very strong on hope of future recovery. Here the technical indicators like RSI and EMA confirm the bullish trend. The key boundaries for the parity will be $1.3840 to $1.3727 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                                     –
R11.3840S11.3727
R21.3876S21.3637
R31.3932S31.3590
R41.3967S41.3520
BUYSELL
  
Buy Above : 1.38137Sell Below : 1.37325
– Take Profit : 1.38499  – Take Profit : 1.36989
– Stop Loss : 1.37654  – Stop Loss : 1.37811

Commentary :The Canadian dollar trades marginally higher on Tuesday and touches 1.2719 mark. Both RSI and triple EMA confirm the bearish trend on a Day as well as H1 chart. Since Dec 2020, the pair moves in rigid boundaries from 1.2957 to 1.2588 levels. A consistent break of either side will only give future path of the parity.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2784S11.2718
R21.2850S21.2690
R31.2902S31.2630
R41.2934S41.2600
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.27431Sell Below : 1.27077
– Take Profit : 1.27680  – Take Profit : 1.26763
– Stop Loss : 1.27166  – Stop Loss : 1.27469

Commentary : The Japanese yen strengthens sharply in early Asian hours on robust average cash earnings data and slips back below 105.00 mark. In a Day chart, triple EMA still confirm the bullish trend, simply suggesting a short term trend reversal is there. A sustained close below 104.55 will check further supports. Alternatively, reversal from here will drag the parity back above 105.50 mark.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1105.50S1104.55
R2105.94S2104.22
R3106.50S3103.60
R4106.88S4102.92
BUYSELL
Trade IdeaTrade Idea
Buy Above : 105.218Sell Below : 104.812
– Take Profit : 105.479  – Take Profit : 104.559
– Stop Loss : 104.944  – Stop Loss : 105.063

Commentary : Gold appreciates on Tuesday and breaks key resistances at $1,840 mark. The pair made intraday high at $1,843 and low at $1,828 mark. Today during U.S. session, U.S. Former President Trump’s second impeachment is scheduled; such event may bring sudden volatility in the market. On a Day Chart, triple EMA signals the bearish trend, while on H1 chart, EMA confirms the bullish trend for the time being. The key boundaries for the parity will be $1,847 to $1,827 mark. A consistent close of either side will provide further directions to the parity. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11847S11827
R21854S21820
R31862S31815
R41870S41807
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1847.03Sell Below : 1831.01
– Take Profit : 1853.97  – Take Profit : 1821.94
– Stop Loss : 1838.71  – Stop Loss : 1842.96

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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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