DAILY ANALYSIS REPORT FEBRUARY-23-2021

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Time Frame

H1

Commentary : The Aussie continues to trade higher and touches $0.7934 mark in Asian hours. On a Day as well as H1chart, RSI and triple EMA confirm the clear uptrend. A sustained close above $0.7932 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7866 will test key supports too.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7940S10.7866
R20.7988S20.7842
R30.8038S30.7799
R40.8056S40.7740
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.79403Sell Below : 0.78834
– Take Profit : 0.79766– Take Profit : 078426
– Stop Loss : 0.78930– Stop Loss : 0.79373

Commentary : The euro rises gradually against U.S. dollar and remains well supported above $1.2150 mark. Today Euro zone will release inflation data for the month of January. The day as well as H1 chart has confirmed the uptrend for the time being. The likely range for the parity will be $1.2205 to $1.2090 mark. A sustained 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                                    –
R11.2205S11.2152
R21.2264S21.2090
R31.2323S31.2020
R41.2352S41.1961
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.21832 Sell Below : 1.21463
– Take Profit : 1.22032  – Take Profit : 1.21274
– Stop Loss : 1.21594  – Stop Loss : 1.21687

Commentary : The sterling climbs sharply against U.S. dollar ahead of U.K.’s job data. The pair made intraday high at $1.4083 and low at $1.4055 mark. The Day and H1 chart confirm the bullish trend for the time being. The expected range for the parity will be $1.4187 to $1.4030 mark. A consistent close of either side will give future directions to the parity.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.4138S11.4030
R21.4187S21.3989
R31.4222S31.3951
R41.4248S41.3910
BUYSELL
  
Buy Above : 1.41055Sell Below : 1.40405
– Take Profit : 1.41538  – Take Profit : 1.40107
– Stop Loss : 1.40619  – Stop Loss : 1.40770

Commentary : The Canadian dollar strengthens sharply ahead of BoC’s Governor Macklem’s speech due at 1730 GMT. Triple EMA on H1 and a Day chart confirm the down trend. The pair made intraday high at 1.2618 and low at 1.2585 mark. A sustained close above 1.2642 on a H1 requires for the upside rally. Alternatively, a consistent close below 1.2610 on a Day chart requires for the bearish trend confirmation.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2642S11.2544
R21.2674S21.2527
R31.2730S31.2495
R41.2784S41.2411
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.26232Sell Below : 1.25727
– Take Profit : 1.26575  – Take Profit : 1.25364
– Stop Loss : 1.25877  – Stop Loss : 1.26148

Commentary :  The Japanese banks will remain closed for the day and hence expecting less volatility in JPY parity. The Japanese yen recovers previous losses and today touches 104.92 mark in early Asia. The pair made intraday high at 105.09 and low at 104.92 levels. The Day chart with triple EMA still suggest the bullish trend while H1 chart has confirmed downside pressure for the time being. A sustained close above 105.12 on H1 requires for the upside rally. Alternatively, a sustained close below 104.94 on H1 will test further supports.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1105.40S1104.92
R2105.92S2104.55
R3106.38S3104.20
R4106.78S4103.76
BUYSELL
Trade IdeaTrade Idea
Buy Above : 105.364Sell Below : 104.838
– Take Profit : 105.583  – Take Profit : 104.606
– Stop Loss : 105.112  – Stop Loss : 105.092

Commentary : Gold appreciates sharply and remains well supported above $1,800 mark. The pair made intraday high at $1,816 and low at $1,806 mark. The key event for the day will be U.S. Fed Chair Powell’s Testimony. The triple EMA on a Day chart still showing some downside pressure but in short run, H1 chart confirms bullish trend. A sustained close above $1,822 requires for the upside rally. Alternatively, a consistent close below $1,798 will check further supports.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11822S11802
R21827S21794
R31832S31787
R41840S41778
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1820.83Sell Below : 1805.74
– Take Profit : 1829.78  – Take Profit : 1799.21
– Stop Loss : 1811.51  – Stop Loss : 1813.58

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