DAILY ANALYSIS REPORT JANUARY-29-2021

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Time Frame

H1

Commentary : AUD/USD: The Aussie weakens on Friday despite robust economic indicators. The pair made intraday high at $0.7682 and low at $0.7636 mark. The EMA still confirms the Uptrend in long run, as parity currently facing short-term trend reversal. The key boundaries for the parity will be $0.7676 and $0.7622 mark. A consistent close of either side will give further directions to the parity.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7676S10.7622
R20.7712S20.7590
R30.7776S30.7520
R40.7854S40.7500
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.76735Sell Below : 0.76211
– Take Profit : 0.77014– Take Profit : 0.75935
– Stop Loss : 0.76460– Stop Loss : 0.76580

Commentary : EUR/USD: The euro trades marginally lower and hovers around $1.21 mark. Today many key economic indicators are scheduled to release from the Euro Area, thus medium to high volatility is expected in euro parity. On H1 chart, both RSI and EMA confirm the bearish trend for the time being. The key range for the parity will be $1.2121 and $1.2074 mark. A successful close of either side on a day chart will provide outlook in short run.
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 : 1.21280 Sell Below : 1.20755
– Take Profit : 1.21612  – Take Profit : 1.20430
– Stop Loss : 1.20953  – Stop Loss : 1.21154

Commentary : GBP/USD: The pound moves in stiff boundaries and consolidates around $1.37 mark. Here both RSI & EMA signals the bullish trend. The key boundaries for the parity will be $1.3740 and $1.3675 mark. A sustained close of either side will get further directions to the parity.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3740S11.3640
R21.3762S21.3622
R31.3802S31.3600
R41.3844S41.3552
BUYSELL
  
Buy Above : 1.37307Sell Below : 1.36747
– Take Profit : 1.37606  – Take Profit : 1.36445
– Stop Loss : 1.36925  – Stop Loss : 1.37059

Commentary : USD/CAD: The Canadian dollar falls gradually against U.S. dollar and remains well supported above 1.2800 mark. The RSI confirms the uptrend but EMA signals bearish trend on a day chart. It simply suggests the short term trend reversal is there. The parity has also crossed key hurdle at 1.2850 mark, confirming bullish trend on a day chart.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2882S11.2780
R21.2902S21.2735
R31.2940S31.2690
R41.3009S41.2630
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.28882Sell Below : 1.28313
– Take Profit : 1.29325  – Take Profit : 1.27953
– Stop Loss : 1.28437  – Stop Loss : 1.28706

Commentary : USD/JPY: The Japanese yen falls noticeably in Asian hours as Japan’s industrial production data misses expectations. The pair hovers around key resistance at 104.50 mark and sustained close above will check key resistances further. Alternatively, a daily close below 104.10 will check key supports. The RSI confirms the uptrend and EMA is about to give confirmation for the bullish trend after successful crossover above the trend lines.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1104.57S1104.10
R2104.90S2103.57
R3105.40S3102.90
R4105.94S4102.50
BUYSELL
Trade IdeaTrade Idea
Buy Above : 104.665Sell Below : 104.180
– Take Profit : 104.865  – Take Profit : 103.980
– Stop Loss : 104.442  – Stop Loss : 104.403

Commentary : XAU/USD (GOLD): Gold remained highly volatile in previous session and gave $30 volatility in a single day. Today pair trades flat and hovers around $1,845 mark. Key boundaries for the day will be $1,847 and $1,836 mark. A consistent close of either side on H1 will give further direction to the parity. Late in U.S. Session, U.S. key economic indicators 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                                     –
R11,847S11,832
R21,852S21,827
R31,860S31,815
R41,872S41,802
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1846.90Sell Below : 1832.96
– Take Profit : 1855.75  – Take Profit : 1822.36
– Stop Loss : 1836.59  – Stop Loss : 1845.01

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