DAILY ANALYSIS REPORT JANUARY-28-2021

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Time Frame

H1

Commentary :  AUD/USD – The Aussie hits fresh 4 – week low at $0.7622 mark. Today RSI & MA on a day chart is still suggesting up trend. The key support level is $0.7555. A sustained close below will confirm the bearish trend. On H1 Chart there are two key levels $0.7555 and 0.7500 for the down trend. Alternatively, wait for $0.7672 to break for upside rally.
IndicatorsH1
TrendsDOWN Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7672S10.7622
R20.7712S20.7590
R30.7776S30.7520
R40.7854S40.7500
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.76722Sell Below : 0.76067
– Take Profit : 0.77001– Take Profit : 0.75805
– Stop Loss : 0.76447– Stop Loss : 0.7631

Commentary : The euro on a daily chart shows trend reversal. A successful break and close below yesterday’s low ($1.2058) will confirm downside trend on a day chart. On the H1 Chart, the pair exhibits range bound movement of 100 pips. A consistent break will create a new downside range for the parity. Alternatively, reversal from key support will check key resistance at $1.2160. Just wait for the breakout to create intraday position.
IndicatorsH1
TrendsDOWN Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2128S11.2074
R21.2160S21.2040
R31.2232S31.2001
R41.2265S41.1922
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.21184 Sell Below : 1.20675
– Take Profit : 1.21425  – Take Profit : 1.20350
– Stop Loss : 1.20880  – Stop Loss : 1.21128

Commentary :  The sterling remains slightly volatile on Thursday, suggesting uptrend on Day Chart while downtrend on H1 chart. Key support on H1 Chart and upward channel is $1.3640. A sustained close below will check key support at $1.3570. Alternatively, reversal may push the parity up towards $1.3700 and $1.3750 mark respectively.
IndicatorsH1
TrendsDOWN Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3692S11.3640
R21.3750S21.3622
R31.3802S31.3600
R41.3844S41.3552
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.37050Sell Below : 1.36451
– Take Profit : 1.37349  – Take Profit : 1.35989
– Stop Loss : 1.36668  – Stop Loss : 1.36898

Commentary : The Canadian dollar has just confirms up trend with RSI and MA on a day chart. On longer perspective, it may rally up to 1.29 to 1.2950. On H1 Chart, divergence has been observed with RSI, breaking 1.28 may lead to normal range towards 1.2735. A key hurdle is seen at 1.2850, a sustained close above will confirm the bullish trend.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2780S11.2780
R21.2882S21.2735
R31.2940S31.2690
R41.3009S41.2630
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.28538Sell Below : 1.28021
– Take Profit : 1.28828  – Take Profit : 1.27638
– Stop Loss : 1.28261  – Stop Loss : 1.28396

Commentary :  The Japanese yen breaks key resistance at 104.22 mark in Asian hours and confirms up trend on a day chart. On H1 Chart too, the pair has confirmed upward trend but for new buy side positions, please wait for 104.50 levels to breach. Here the RSI have reached 70+ and now it shows over bought level, which may reverse the price movement for the day. Below 104 may leads towards 103.60 mark. Wait for the right levels to create the intraday position in the parity.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1104.50S1103.28
R2104.90S2102.90
R3105.40S3102.45
R4105.94S4102.10
BUYSELL
Trade IdeaTrade Idea
Buy Above : 104.538Sell Below : 104.096
– Take Profit : 104.729  – Take Profit : 103.891
– Stop Loss : 104.315  – Stop Loss : 104.352

Commentary :  Gold weakens sharply in previous session and touched $1,831 mark after U.S. FOMC meet. Overall, U.S. dollar has strengthens against major peers which confirms the hawkish FOMC meet. Gold confirms downtrend on a day chart as well as H1 time frame. Though it is testing upward channel support and it is important to wait for the time being whether gold sustains or takes reverse from here. Today, closing price on a day chart will be important to decide future trend which will give either side more than $75 – $100 movement. For intraday purpose, $1,830 and $1,845 are important levels to enter either sell or buy trade. 
IndicatorsH1
TrendsDOWN Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11,847S11,832
R21,852S21,827
R31,860S31,815
R41,872S41,802
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1845.73Sell Below : 1828.43
– Take Profit : 1852.89  – Take Profit : 1821.06
– Stop Loss : 1838.33  – Stop Loss : 1837.33

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