DAILY ANALYSIS REPORT FEBRUARY-17-2021

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Time Frame

H1

Commentary : The Aussie exhibits range bound movement and hovers around $0.7750 mark on Wednesday. Australia has scheduled to release employment change data due tomorrow. A day chart still confirms the uptrend in long run but triple EMA on H1 chart suggesting bearish trend for the time being. An expected range for the parity will be $0.7767 to $0.7722 mark. A sustained close of either side on H1 chart will provide further direction to the parity.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7767S10.7722
R20.7820S20.7690
R30.7878S30.7638
R40.7940S40.7594
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.77653Sell Below : 0.77282
– Take Profit : 0.77869– Take Profit : 0.77087
– Stop Loss : 0.77461– Stop Loss : 0.77515

Commentary : The euro erases previous gain against U.S. dollar and fails to break key resistance at $1.2170 mark. The pair is currently trading around $1.2090 mark. Today no key fundamentals are expected from the Euro zone. On H1 chart, triple EMA confirms the bearish trend for the time being. The expected range for the parity will be $1.2075 to $1.2120 mark. A consistent break of either side on a H1 chart will provide further directions to the parity.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2120S11.2075
R21.2170S21.2044
R31.2224S31.1961
R41.2262S41.1900
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.21070 Sell Below : 1.20708
– Take Profit : 1.21267  – Take Profit : 1.20522
– Stop Loss : 1.20850  – Stop Loss : 1.20929

Commentary : The pound trades marginally lower and stabilizes below $1.39 mark ahead of U.K.’s inflation data. A shooting start pattern has observed on a Day Chart which simply signifies short term trend reversal likely. A sustained close above $1.3902 on H1 chart requires for the upside rally. Alternatively, current downside trend will drag the parity back below $1.3800 mark.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below  RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3902S11.3860
R21.3951S21.3845
R31.4001S31.3767
R41.4032S41.3738
BUYSELL
  
Buy Above : 1.39198Sell Below : 1.38630
– Take Profit : 1.39671  – Take Profit : 1.38131
– Stop Loss : 1.38611  – Stop Loss : 1.39228

Commentary : The Canadian dollar remains volatile on Wednesday and hovers around 1.27 mark. A day chart confirms the bearish trend in short run but H1 chart suggest uptrend for the time being. A sustained close below 1.2677 requires for the downside rally. Alternatively, reversal from here will drag the parity back above 1.2730 mark.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2730S11.2677
R21.2784S21.2630
R31.2816S31.2588
R41.2839S41.2551
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.27346Sell Below : 1.26673
– Take Profit : 1.27659  – Take Profit : 1.26330
– Stop Loss : 1.27028  – Stop Loss : 1.27063

Commentary : The Japanese yen falls drastically on Wednesday and touched 106.22 mark in early Asia. It is the lowest level since Sept 11, 2020. The BoJ Kuroda’s dovish speech on monetary easing made the Japanese yen fall sharply. Triple EMA has confirmed bullish trend on a Day as well as H1 chart. The key boundaries for the parity will be 106.22 to 105.70 mark. A sustained break and close of either side on H1 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                                     –
R1106.22S1105.70
R2106.50S2105.22
R3106.78S3104.80
R4107.23S4104.55
BUYSELL
Trade IdeaTrade Idea
Buy Above : 106.243Sell Below : 105.696
– Take Profit : 106.504  – Take Profit : 105.458
– Stop Loss : 105.949  – Stop Loss : 106.031

Commentary : Gold weakens sharply on robust U.S. dollar and slips back below $1,800 mark. The pair made intraday high at $1,795 and low at $1,786 mark. The Day and H1 charts suggest the bearish trend for the time being. The key event for the day will be U.S. FOMC meeting minutes. In addition, U.S. will release industrial production as well as retail sales data. The outcome of it will provide further directions to the parity.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11802S11785
R21808S21778
R31817S31772
R41828S41764
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1799.73Sell Below : 1786.40
– Take Profit : 1807.95  – Take Profit : 1779.49
– Stop Loss : 1791.65  – Stop Loss : 1793.10

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