Commentary : The Aussie rises gradually against U.S. dollar on the back of strong Westpac consumer sentiment data. Here triple EMA as well as RSI confirm the bullish trend in short run. The pair made intraday high at $0.7743 and low at $0.7724 mark. 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.
Indicators
H1
Trends
Up Trend
Moving Average (Period=75)
Above MA
RSI (Period=26)
Above RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
0.7743
S1
0.7690
R2
0.7799
S2
0.7638
R3
0.7820
S3
0.7590
R4
0.7878
S4
0.7522
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 0.77515
Sell Below : 0.77108
– Take Profit : 0.77731
– Take Profit : 0.76840
– Stop Loss : 0.77267
– Stop Loss : 0.77406
EUR / USD
Commentary : The euro strengthens on Wednesday and jumps back above $1.21 mark in Asian hours. On H1 chart, bullish trend in observed while on a Day chart, triple EMA is about to crossover for the bullish pattern. Key boundaries for the parity will be $1.2170 to $1.2100 mark. A consistent break of either side on hourly chart will provide further directions to the parity.
Indicators
H1
Trends
Up Trend
Moving Average (Period=75)
Above MA
RSI (Period=26)
Above RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
1.2170
S1
1.2100
R2
1.2224
S2
1.2044
R3
1.2262
S3
1.1961
R4
1.2323
S4
1.1900
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 1.21377
Sell Below : 1.20990
– Take Profit : 1.21605
– Take Profit : 1.20764
– Stop Loss : 1.21056
– Stop Loss : 1.21235
GBP / USD
Commentary : The pound rises remarkably and touches $1.3827 mark. Today BOE Gov Bailey is scheduled to speak at 1700 GMT. Here the technical indicators like RSI and EMA confirm the bullish trend. The key boundaries for the parity will be $1.3876 to $1.3750 mark. A successful close of either side on a Day Chart will provide further direction to the parity.
Indicators
H1
Trends
Up Trend
Moving Average (Period=75)
Above MA
RSI (Period=26)
Above RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
1.3840
S1
1.3750
R2
1.3876
S2
1.3600
R3
1.3932
S3
1.3637
R4
1.3967
S4
1.3590
BUY
SELL
Buy Above : 1.38403
Sell Below : 1.38034
– Take Profit : 1.38618
– Take Profit : 1.37838
– Stop Loss : 1.38142
– Stop Loss : 1.38330
USD / CAD
Commentary : The Canadian dollar recovers previous losses and slip back below 1.27 mark. Both RSI and triple EMA confirm the bearish trend on a Day as well as H1 chart. A consistent break below 1.2690 requires for the downside rally.
Indicators
H1
Trends
Down Trend
Moving Average (Period=75)
Below MA
RSI (Period=26)
Below RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
1.2784
S1
1.2690
R2
1.2850
S2
1.2630
R3
1.2902
S3
1.2600
R4
1.2934
S4
1.2570
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 1.27311
Sell Below : 1.26791
– Take Profit : 1.27603
– Take Profit : 1.26477
– Stop Loss : 1.27002
– Stop Loss : 1.27182
USD / JPY
Commentary : The Japanese yen remains slightly volatile after PPI results and hovers around 104.50 mark. On H1 chart, RSI and triple EMA suggest bearish trend but for that consistent close below 104.50 is required. Alternatively, reversal from here will drag the parity back above 105.00 mark. On a Day Chart, EMA still suggests bullish trend, simply signifies the trend reversal for the time being.
Indicators
H1
Trends
Down Trend
Moving Average (Period=75)
Below MA
RSI (Period=26)
Below RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
104.77
S1
104.50
R2
105.20
S2
104.22
R3
105.68
S3
103.60
R4
106.50
S4
102.92
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 104.746
Sell Below : 104.403
– Take Profit : 105.003
– Take Profit : 104.150
– Stop Loss : 104.462
– Stop Loss : 104.653
GOLD
Commentary : Gold strengthens on weak U.S. dollar and remains well supported above $1,830 mark. The pair made intraday high at $1,845 and low at $1,834 mark. The key event for the day is U.S. Fed Chair Powell’s speech. It will bring market volatility as well as provides further direction to the parity. 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 $1,862 to $1,828 mark. A consistent close of either side will provide further directions to the parity.
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