DAILY ANALYSIS REPORT FEBRUARY-11-2021

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Time Frame

H1

Commentary :  The Aussie trades marginally higher and remains well supported above $0.77 mark. Here triple EMA as well as RSI confirm the bullish trend in short run. The pair made intraday high at $0.7738 and low at $0.7712 mark. A sustained close above $0.7740 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 : 0.77429Sell Below : 0.77044
– Take Profit : 0.77691– Take Profit : 0.76776
– Stop Loss : 0.77058– Stop Loss : 0.77342

Commentary : The euro moves in rigid boundaries and stabilizes above $1.21 mark. On H1 chart, pair supports the bullish trend but still a successful crossover of triple EMA above Day close is required for the final confirmation. Today EU has scheduled to release Economic Forecast Report; it may provide further direction to the parity. Key boundaries for the parity will be $1.2140 to $1.2100 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                                    –
R11.2140S11.2100
R21.2170S21.2044
R31.2224S31.1961
R41.2262S41.1900
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.21430 Sell Below : 1.21054
– Take Profit : 1.21708  – Take Profit : 1.20828
– Stop Loss : 1.21087  – Stop Loss : 1.21299

Commentary : The pound rises sharply and touches $1.3850 mark in Asian hours. The lawmakers in U.K. are very hopeful for the economy recovery from the Covid effect. The technical tools like EMA and RSI confirm the bullish trend on a Day as well as H1 chart. The key boundaries for the parity will be $1.3876 to $1.3810 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                                     –
R11.3876S11.3810
R21.3900S21.3750
R31.3932S31.3684
R41.3967S41.3637
BUYSELL
  
Buy Above : 1.38632Sell Below : 1.38179
– Take Profit : 1.39004  – Take Profit : 1.37955
– Stop Loss : 1.38259  – Stop Loss : 1.38476

Commentary : The Canadian dollar rises gradually against U.S. dollar and consolidates around 1.2690 mark. Both RSI and triple EMA confirm the bearish trend on a Day as well as H1 chart. A consistent close below 1.2690 requires for the downside rally. On the top side, a Day Close above 1.2710 will check further resistances.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2710S11.2690
R21.2784S21.2630
R31.2850S31.2600
R41.2902S41.2570
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.27243Sell Below : 1.26778
– Take Profit : 1.27535  – Take Profit : 1.26541
– Stop Loss : 1.26934  – Stop Loss : 1.27080

Commentary :  The Japanese yen trades flat on Thursday as country is having holiday today. In the absence of key fundamentals, we are not expecting high volatility today. On H1 chart, RSI and triple EMA suggest downside trend but on a Day chart, triple EMA still supports bullish trend. The parity will move in stiff boundaries for the time being.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1104.77S1104.50
R2105.20S2104.22
R3105.68S3103.60
R4106.50S4102.92
BUYSELL
Trade IdeaTrade Idea
Buy Above : 104.778Sell Below : 104.448
– Take Profit : 105.035  – Take Profit : 104.196
– Stop Loss : 104.494  – Stop Loss : 104.694

Commentary : Gold surpassed the key resistance at $1,848 mark and touched $1,855 in previous session but failed to find support over there and slipped back below $1,840 mark. Today pair made intraday high at $1,844 and low at $1,834 mark. On a Day Chart, triple EMA and RSI confirm the bearish trend for the time being. One has to keep in mind key hurdles for both the sides. The expected range for the parity will be $1,828 to $1,848 mark. A consistent close of either side will provide further directions to the parity. Today no key fundamentals have scheduled from the U.S. except Fed Monetary Policy Report and thus might bring high volatility in gold during U.S. session.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11848S11827
R21854S21820
R31862S31815
R41870S41807
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1843.84Sell Below : 1831.02
– Take Profit : 1851.04  – Take Profit : 1823.95
– Stop Loss : 1835.36  – Stop Loss : 1839.62

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