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DAILY ANALYSIS REPORT JUNE 02 2021

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Time Frame

H1

Commentary : The Aussie enjoys roller coaster movement after RBA’s Cash Rate Decision released yesterday. The pair made intraday high at $0.7773 and low at $0.7745 mark. A day chart and H1 chart with triple EMA confirms bullish trend for the time being. A sustained close above $0.7770 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7740 will check further supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7772S10.7740
R20.7790S20.7720
R30.7826S30.7677
R40.7854S40.7638
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.7772Sell Below : 0.7740
– Take Profit : 0.7795– Take Profit : 0.7712
– Stop Loss : 0.7747– Stop Loss : 0.7765

Commentary :  The euro remains almost unchanged against U.S. dollar and stabilizes above $1.2200 mark. Today pair made intraday high at $1.2226 and low at $1.2211. Today triple EMA on a day chart and H1 chart suggest bullish trend for the time being. A consistent close above $1.2232 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2212 on H1 chart will check further supports. 
IndicatorsH1
TrendsDownTrend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2232S11.2205
R21.2258S21.2176
R31.2290S31.2132
R41.2323S41.2100
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2238 Sell Below : 1.2205
– Take Profit : 1.2270  – Take Profit : 1.2172
– Stop Loss : 1.2210  – Stop Loss : 1.2233

Commentary : The Sterling erases previous gain against U.S. dollar and slips back below $1.4200 mark. The pair made intraday high at $1.4164 and low at $1.4143 mark. A day chart is bullish but H1 chart with triple EMA suggest down trend for the time being. A sustained close above $1.4178 on H1 chart will check key resistances. Alternatively, a consistent close below $1.4138 will check further supports.
IndicatorsH1
TrendsDownTrend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.4190S11.4138
R21.4217S21.4115
R31.4250S31.4080
R41.4282S41.4047
BUYSELL
  
Buy Above : 1.4170Sell Below : 1.4135
– Take Profit : 1.4198  – Take Profit : 1.4105
– Stop Loss : 1.4142  – Stop Loss : 1.4167

Commentary : The Canadian dollar remained highly volatile in previous session after Canada’s GDP and manufacturing data released with flat to positive numbers. Today pair made intraday high at 1.2076 and low at 1.2056 mark. Today a day is down but H1 chart with Triple EMA confirms bullish trend for the time being. A sustained close above 1.2076 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2050 on H1 chart will check key supports too. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2076S11.2050
R21.2090S21.2022
R31.2126S31.2000
R41.2154S41.1973
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2080Sell Below : 1.2039
– Take Profit : 1.2106  – Take Profit : 1.2017
– Stop Loss : 1.2057  – Stop Loss : 1.2068

Commentary: The Japanese yen trades marginally lower on Wednesday and stabilizes around 109.50 mark. The pair made intraday high at 109.65 and low at 109.38 mark. The triple EMA on a day chart is up but H1 chart suggest slightly bearish trend for the time being. A sustained close above 109.76 on H1 chart requires for the upside rally. Alternatively, a consistent close below 109.38 on H1 will check further key supports.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1109.76S1109.38
R2110.22S2108.82
R3110.52S3108.60
R4110.76S4108.36
BUYSELL
Trade IdeaTrade Idea
Buy Above : 109.71Sell Below : 109.32
– Take Profit : 110.02  – Take Profit : 109.02
– Stop Loss : 109.38  – Stop Loss : 109.65

Commentary : Gold weakens on Wednesday as U.S. released ISM manufacturing PMI data with strong numbers. Today U.S. calendar is almost empty except few speeches from FOMC members are scheduled. Today pair made intraday high at $1,902 and low $1,895 mark. A day chart is up but H1 chart with triple EMA confirm bearish trend for the time being. A sustained close above $1,904 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,895 will check further supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11907S11891
R21912S21886
R31919S31880
R41924S41876
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1904Sell Below : 1891
– Take Profit : 1909  – Take Profit : 1885
– Stop Loss : 1898  – Stop Loss : 1899

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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

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