DAILY ANALYSIS REPORT MARCH-02-2021

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Time Frame

H1

Commentary : The Aussie strengthens sharply as RBA stands pat. 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 above $0.7785 on H1 chart requires for the upside rally. Alternatively, current downside movement will take the parity back below $0.7692 mark.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7785S10.7692
R20.7799S20.7676
R30.7820S30.7622
R40.7866S40.7599
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.77885Sell Below : 0.77241
– Take Profit : 0.78292– Take Profit : 0.76951
– Stop Loss : 0.77391– Stop Loss : 0.77607

Commentary : The euro weakens sharply on Tuesday and breaks key support at $1.2020 mark. A day chart with triple EMA is about to give successful crossover which signifies bearish trend. On the other side, triple EMA on H1 chart has already confirmed the down trend only. The expected range for the parity will be $1.1961 to $1.2092 mark. A sustained close of either side on H1 chart requires to forecast the future path of the parity. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Down MA
RSI (Period=26)Down RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2092S11.2001
R21.2122S21.1961
R31.2167S31.1938
R41.2205S41.1897
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.20603 Sell Below : 1.20100
– Take Profit : 1.20871  – Take Profit : 1.19886
– Stop Loss : 1.20296  – Stop Loss : 1.20408

Commentary : The sterling falls sharply on Tuesday and slips below $1.39 mark. The pair made intraday high at $1.3932 and low at $1.3866 mark. The H1 chart with triple EMA confirms bearish trend while a day chart suggests the bullish trend in long run. A sustained close above $1.3954 on H1 chart requires for the upside rally. On the other hand, consistent close below $1.3815 will test further supports too. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3954S11.3856
R21.3998S21.3815
R31.4038S31.3787
R41.4086S41.3750
BUYSELL
  
Buy Above : 1.39468Sell Below : 1.38694
– Take Profit : 1.39834  – Take Profit : 1.38152
– Stop Loss : 1.39011  – Stop Loss : 1.39303

Commentary : The Canadian dollar exhibits range bound movement and hovers around immediate resistance at 1.2684 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 1.2740 to 1.2640 mark. A sustained close of either side on H1 chart requires for the further trend confirmation. Later today, Canada has scheduled to release GDP data. The outcome of it will provide future direction of the parity.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2740S11.2640
R21.2768S21.2610
R31.2800S31.2584
R41.2845S41.2525
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.26974Sell Below : 1.26339
– Take Profit : 1.27392  – Take Profit : 1.25956
– Stop Loss : 1.26504  – Stop Loss : 1.26839

Commentary : The Japanese yen falls noticeably as capital spending data misses expectations. The pair made intraday high at 106.92 and low at 106.66 mark. The day as well as H1 chart with triple EMA suggests bullish trend for the time being. A sustained close above 106.92 on H1 chart requires for the upside rally. Alternatively, reversal from here will drag the parity down below 106.50 mark.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1106.92S1106.53
R2107.22S2105.70
R3107.54S3105.22
R4107.98S4104.92
BUYSELL
Trade IdeaTrade Idea
Buy Above : 106.997Sell Below : 106.651
– Take Profit : 107.204  – Take Profit : 106.436
– Stop Loss : 106.702  – Stop Loss : 106.970

Commentary :
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11727S11708
R21732S21697
R31740S31692
R41748S41685
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1721.16Sell Below : 1707.07
– Take Profit : 1726.70  – Take Profit : 1700.76
– Stop Loss : 1712.91  – Stop Loss : 1714.45

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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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