DAILY ANALYSIS REPORT MARCH-03-2021

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Time Frame

H1

Commentary : The Aussie rises in early Asia on the back of higher than expected quarterly GDP data. The volatility was less as compare to the strong reading and parity consolidates around $0.7828 mark. A day chart and H1 chart with triple EMA suggests the bullish trend for the time being. A sustained close above $0.7853 on H1 chart requires for the upside rally. Alternatively, reversal from here will take the parity back below $0.7792 mark.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7853S10.7792
R20.7903S20.7728
R30.7939S30.7694
R40.7975S40.7667
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.78481Sell Below : 0.77930
– Take Profit : 0.78888– Take Profit : 0.77493
– Stop Loss : 0.77987– Stop Loss : 0.78379

Commentary : The euro moves in rigid boundaries on Wednesday and stabilizes around key resistance at $1.2092 mark. Today triple EMA on a day as well as H1 chart suggests the bullish trend only. A consistent close above $1.2115 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2065 on H1 will check further supports. From the fundamental point of view, services PMI data from Euro area will provide further direction to the parity. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2092S11.2065
R21.2115S21.2001
R31.2167S31.1961
R41.2205S41.1938
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.21013 Sell Below : 1.20653
– Take Profit : 1.21281  – Take Profit : 1.20354
– Stop Loss : 1.20706  – Stop Loss : 1.20957

Commentary : The sterling exhibits range bound movements and hovers around $1.3950 mark. The pair made intraday high at $1.3966 and low at $1.3943 mark. Technical tools in long and short run suggest the uptrend for the time being. A sustained close above $1.3974 on H1 chart requires for the upside rally. On the other hand, consistent close below $1.3928 will test further supports too. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3974S11.3928
R21.3998S21.3858
R31.4038S31.3815
R41.4086S41.3787
BUYSELL
  
Buy Above : 1.39892Sell Below : 1.39266
– Take Profit : 1.40217  – Take Profit : 1.38724
– Stop Loss : 1.39451  – Stop Loss : 1.39875

Commentary : The Canadian dollar trades flat and stabilizes below 1.2650 mark. A day chart and H1 chart with triple EMA confirm the bearish trend. The expected range for the parity will be 1.2656 to 1.2610 mark. A sustained close of either side on H1 chart requires for the further trend confirmation. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2656S11.2610
R21.2692S21.2584
R31.2740S31.2555
R41.2776S41.2518
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.26506Sell Below : 1.26164
– Take Profit : 1.26783  – Take Profit : 1.25781
– Stop Loss : 1.26217  – Stop Loss : 1.26536

Commentary :  The Japanese yen continues to trade lower and hovers around key resistance at 106.92 mark. The pair made intraday high at 106.87 and low at 106.67 mark. The day as well as H1 chart with triple EMA suggests bullish trend for the time being. A sustained close above 106.97 on H1 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 : 107.004Sell Below : 106.660
– Take Profit : 107.211  – Take Profit : 106.421
– Stop Loss : 106.709  – Stop Loss : 106.880

Commentary : The gold trades marginally lower ahead of U.S. ADP job results due at 1315 GMT. Since early Asia, the pair is moving in stiff range from $1,741 to $1,730 mark. Indeed, both the boundaries itself suggest key hurdles to decide the further direction for the parity. A sustained close of either side on H1 chart will provide future path only. Currently, triple EMA on H1 and a day chart signals bearish trend for the time being. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11740S11727
R21748S21722
R31754S31715
R41762S41708
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1741.98Sell Below : 1729.89
– Take Profit : 1750.15  – Take Profit : 1723.58
– Stop Loss : 1731.06  – Stop Loss : 1737.28

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