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DAILY ANALYSIS REPORT JUNE 10 2021

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Time Frame

H1

Commentary : The Aussie trades marginally higher on Thursday and remains well supported above $0.7720 mark. The pair made intraday high at $0.7736 and low at $0.7722 mark. A day chart is slightly bullish but likely to give crossover while H1 chart with triple EMA has confirmed the bearish trend for the time being. A sustained close above $0.7740 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7720 will check further supports. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7740S10.7720
R20.7772S20.7702
R30.7799S30.7680
R40.7827S40.7650
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.7741Sell Below : 0.7721
– Take Profit : 0.7767– Take Profit : 0.7699
– Stop Loss : 0.7726– Stop Loss : 0.7742

Commentary : The euro trades slightly lower ahead of ECB’s Interest Rate Decision. Today pair made intraday high at $1.2180 and low at $1.2166. Today triple EMA on a day chart is up but H1 chart suggests bearish trend for the time being. A consistent close above $1.2180 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2158 on H1 chart will check further supports. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2180S11.2158
R21.2199S21.2122
R31.2224S31.2100
R41.2248S41.2080
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2182 Sell Below : 1.2152
– Take Profit : 1.2204  – Take Profit : 1.2121
– Stop Loss : 1.2162  – Stop Loss : 1.2177

Commentary : The Sterling falls noticeably on Thursday and hovers around $1.4100 mark. The pair made intraday high at $1.4124 and low at $1.4106 mark. A day chart is up but H1 chart with triple EMA suggests bearish trend for the time being. A sustained close above $1.4140 on H1 chart will check key resistances. Alternatively, a consistent close below $1.4087 will check further supports.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.4140S11.4087
R21.4163S21.4065
R31.4190S31.4038
R41.4224S41.4010
BUYSELL
  
Buy Above : 1.4142Sell Below : 1.4097
– Take Profit : 1.4175  – Take Profit : 1.4070
– Stop Loss : 1.4121  – Stop Loss : 1.4130

Commentary : The Canadian dollar remained highly volatile in previous session after BOC’s Cash Rate Decision. There was not any surprise in Policy Statement as expected by the traders and took it as dovish stance. Today pair made intraday high at 1.2123 and low at 1.2104 mark. Today a day chart is bearish while H1 chart with triple EMA suggests bullish trend for the time being. A sustained close above 1.2121 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2062 on H1 chart will check key supports too. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2121S11.2090
R21.2148S21.2061
R31.2176S31.2038
R41.2222S41.2000
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2122Sell Below : 1.2095
– Take Profit : 1.2149  – Take Profit : 1.2068
– Stop Loss : 1.2100  – Stop Loss : 1.2119

Commentary : The Japanese yen remains almost unchanged despite higher than expected PPI data. The pair made intraday high at 109.67 and low at 109.51 mark. The triple EMA on a day chart and H1 chart suggests bullish trend for the time being. A sustained close above 109.70 on H1 chart requires for the upside rally. Alternatively, a consistent close below 109.40 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                                     –
R1109.70S1109.40
R2109.94S2109.00
R3110.32S3108.76
R4110.78S4108.38
BUYSELL
Trade IdeaTrade Idea
Buy Above : 109.68Sell Below : 109.32
– Take Profit : 109.91  – Take Profit : 109.04
– Stop Loss : 109.38  – Stop Loss : 109.57

Commentary : Gold weakened in previous session in the absence of key economic indicators from the U.S. Today gold trades in narrow range ahead of U.S.’s CPI and Core CPI data. High volatility above $15 is expected during the data release. Today the pair made intraday high at $1,889 and low $1,884 mark. A day chart is up while H1 chart with triple EMA confirms bearish trend for the time being. A sustained close above $1,892 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,882 will check further supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11892S11882
R21897S21876
R31897S31872
R41907S41864
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1890Sell Below : 1881
– Take Profit : 1896  – Take Profit : 1875
– Stop Loss : 1883  – Stop Loss : 1889

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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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