DAILY ANALYSIS REPORT MARCH-01-2021

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Time Frame

H1

Commentary : The Aussie recovers slightly from previous losses and stabilizes above $0.77 mark. A day chart with triple EMA suggests the bullish trend in long run but H1 chart has confirmed bearish trend in short run. A sustained close $0.7760 on H1 chart requires for the upside rally. Alternatively, current downside movement will take the parity towards key support at $0.7692 mark. A consistent close below requires for the downside rally. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7772S10.7692
R20.7799S20.7676
R30.7820S30.7622
R40.7866S40.7599
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.77756Sell Below : 0.77241
– Take Profit : 0.78003– Take Profit : 0.76951
– Stop Loss : 0.77492– Stop Loss : 0.77607

Commentary : The euro moves in stiff boundaries ahead of manufacturing PMI results. A triple EMA on H1 chart suggests the bearish trend. A successful close above $1.2092 on H1 chart requires for the upside rally. Alternatively, current downside movement will check key supports too. A consistent close below $1.2065 on H1 chart requires for the downside rally. Later today, ECB President Lagarde’s speech will provide further direction the parity.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2092S11.2065
R21.2122S21.2020
R31.2167S31.2000
R41.2205S41.1961
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.21066 Sell Below : 1.20639
– Take Profit : 1.21380  – Take Profit : 1.20425
– Stop Loss : 1.20696  – Stop Loss : 1.20947

Commentary : The sterling starts a new day on a positive note but pair faces key hurdle at $1.3998 mark. A sustained close above only will check key resistances. The H1 chart with triple EMA confirms bearish trend while a Day chart suggests the bullish trend in long run. On the bottom side, a sustained close below $1.3888 mark requires for the downside rally. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3998S11.3888
R21.4034S21.3856
R31.4086S31.3815
R41.4120S41.3750
BUYSELL
  
Buy Above : 1.40090Sell Below : 1.39518
– Take Profit : 1.40456  – Take Profit : 1.39133
– Stop Loss : 1.39633  – Stop Loss : 1.39997

Commentary : The Canadian dollar trades marginally higher on Monday and remains well supported above 1.27 mark. A day chart with triple EMA still suggests the bearish trend while H1 chart for the short run confirms the uptrend. The expected range for the parity will be 1.2747 to 1.2672 mark. A sustained close of either side on H1 chart requires for the further trend confirmation.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2747S11.2672
R21.2768S21.2635
R31.2800S31.2610
R41.2845S41.2584
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.27340Sell Below : 1.26678
– Take Profit : 1.27758  – Take Profit : 1.26333
– Stop Loss : 1.26870  – Stop Loss : 1.27015

Commentary : The Japanese yen remains volatile in early Asia after robust manufacturing PMI data. The pair hits highest level since August 2020. The day as well as H1 chart with triple EMA suggests bullish trend for the time being. A sustained close above 106.92 on a day chart requires for the upside rally. Alternatively, reversal from here will drag the parity down back below 106.00 mark.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1106.92S1105.70
R2107.22S2105.22
R3107.54S3104.92
R4107.98S4104.55
BUYSELL
Trade IdeaTrade Idea
Buy Above : 106.705Sell Below : 106.353
– Take Profit : 106.945  – Take Profit : 106.137
– Stop Loss : 106.459  – Stop Loss : 106.672

Commentary : The gold fell extremely in previous session and touched $1,717 mark. Today the parity starts a new week on slightly positive note and hovers around $1,750 mark in Asian hours. The pair made intraday high at $1,751 and low at $1,732 mark. This week is full of key U.S. economic indicators and speeches. Therefore, the outcome will provide future path of the parity. A day chart as well as H1 confirms the bearish trend for the time being. A sustained close above $1,761 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,738 will check key supports too.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11754S11738
R21761S21732
R31772S31726
R41780S41718
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1754.82Sell Below : 1744.41
– Take Profit : 1760.36  – Take Profit : 1739.55
– Stop Loss : 1746.56  – Stop Loss : 1752.10

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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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