DAILY ANALYSIS REPORT FEBRUARY-24-2021

Posted on
.

Time Frame

H1

Commentary : The Aussie remains slightly volatile after mixed economic data released in early Asian hours. The pair made intraday high at $0.7945 mark, and low at $0.7902 mark. It is the highest level since Feb 2018. On a day chart, triple EMA signals bullish trend while on H1 chart despite uptrend, some lower side correction has been observed. The expected range for the parity will be $0.7889 to $0.7940 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                                    –
R10.7940S10.7889
R20.7988S20.7842
R30.8038S30.7799
R40.8056S40.7740
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.79420Sell Below : 0.78834
– Take Profit : 0.79702– Take Profit : 0.78294
– Stop Loss : 0.79192– Stop Loss : 0.79373

Commentary : The euro moves in stiff boundaries on Wednesday and stabilizes around $1.2150 mark. The triple EMA on H1 and a Day chart confirm the bullish trend only. Current downside movement is short term trend correction only. The likely range for the parity will be $1.2175 to $1.2136 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                                    –
R11.2205S11.2136
R21.2264 S21.2090
R31.2323S31.2020
R41.2352S41.1961
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.21670 Sell Below : 1.21347
– Take Profit : 1.21918  – Take Profit : 1.21083
– Stop Loss : 1.21432  – Stop Loss : 1.21634

Commentary : The sterling soars and touches $1.4241 mark in Asian hours. It is the highest level since April 2018. Today U.K.’s Monetary Policy Report Hearing is due to release at 1430 GMT, which will provide further path of the parity. The expected range for the parity will be $1.4278 to $1.4064 mark. A consistent close of either side will give future directions to the parity. Here the triple EMA and RSI give bullish trend confirmation for the time being.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.4248S11.4064
R21.4286S21.4030
R31.4345S31.3989
R41.4371S41.3951
BUYSELL
  
Buy Above : 1.41853Sell Below : 1.41198
– Take Profit : 1.42336  – Take Profit : 1.40741
– Stop Loss : 1.41417  – Stop Loss : 1.41643

Commentary : The Canadian dollar remains slightly volatile on Wednesday and stabilizes below 1.26 mark. The long and short run technical tools still suggest downside pressure only. A sustained close above 1.2610 on H1 will drag the parity up towards further resistances. Alternatively, a consistent close below 1.2580 on a day chart requires for the downside rally.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2610S11.2544
R21.2642S21.2527
R31.2674S31.2495
R41.2730S41.2411
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.26009Sell Below : 1.25509
– Take Profit : 1.26348  – Take Profit : 1.25146
– Stop Loss : 1.25677  – Stop Loss : 1.25930

Commentary : The Japanese yen depreciates on Wednesday and hovers around 105.50 mark. The pair rejects key support at 104.92 mark and took reversal from there. The triple EMA on a day and H1 chart confirm the bullish trend for the time being. A sustained close above 105.55 on H1 chart requires for the upside rally. Alternatively, reversal from key resistance will drag the parity down below 105.00 mark.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1105.55S1104.92
R2105.92S2104.55
R3106.38S3104.20
R4106.78S4103.76
BUYSELL
Trade IdeaTrade Idea
Buy Above : 105.626Sell Below : 105.227
– Take Profit : 105.822  – Take Profit : 104.996
– Stop Loss : 105.419  – Stop Loss : 105.481

Commentary : Gold moves in stiff boundaries and remains well supported above $1,800 mark. The Fed Chair Powell’s testimony failed to bring extreme volatility in the gold. Today will be the 2nd day of the testimony. On H1 chart, parity confirms the bullish trend while on a day chart still downside pressure is likely. The pair made intraday high at $1,813 and low at $1,804 mark. A sustained close above $1,815 on H1 chart 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 : 1815.07Sell Below : 1804.02
– Take Profit : 1824.02  – Take Profit : 1797.43
– Stop Loss : 1805.75  – Stop Loss : 1811.71

Download Report in PDF

We provide every solution to start your own

Tags
Disclamer:
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 FSA, St. Vincent and the Grenadines with Number 25274 BC 2019 TP Global Services Limited does not offer its services to residents of certain jurisdictions such as USA, and British Columbia.
Share on facebook
Share on linkedin
Share on twitter
Share on telegram
Share on whatsapp
Unleash Powerful Trading Conditions with TP Global.

Recent Posts

Categories

Offices

305 Griffith Corporate Park, Beachmont Kingston, Saint Vincent & the Grenadines

Mail us

Drop mail at:
support@tpglobalfx.com

Contact us

Call or Whatsapp
+1 7754366970

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

TP Global Fx Africa Limited is incorporated in Federal Republic of Nigeria under the Companies and Allied matters Act 1990 with registration number RC 1674202. The objects of the company are all subject matters not forbidden by Companies and Allied Matters Act 1990. To provide Electronic Platform through which clients can choose currencies, commodities, indexes, CFDs and other leveraged financial instruments to trade.

TP Global Services Limited is registered with NFA (National Futures Association) USA with Registration Number 0533098.

mappin at-sign phone close