DAILY ANALYSIS REPORT MARCH-04-2021

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Time Frame

H1

Commentary : The Aussie failed to break key hurdle at $0.7838 mark and fell back below $0.7800 mark. A day chart still suggests bullish trend while H1 chart with triple EMA suggests the down trend for the time being. A sustained close above $0.7838 on H1 chart requires for the upside rally. Alternatively, current down side movement will take the parity back below $0.7750 mark.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7838S10.7752
R20.7875S20.7728
R30.7903S30.7694
R40.7939S40.7667
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.78120Sell Below : 0.77695
– Take Profit : 0.78444– Take Profit : 0.77376
– Stop Loss : 0.77783– Stop Loss : 0.78008

Commentary : The euro exhibits range bound movement and stabilizes around $1.2050 mark. Today triple EMA on a day as well as H1 chart confirm the bearish trend only. A consistent close above $1.2073 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2046 on H1 will check further supports. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2092S11.2046
R21.2115S21.2001
R31.2167S31.1961
R41.2205S41.1938
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.20708 Sell Below : 1.20323
– Take Profit : 1.20995  – Take Profit : 1.20066
– Stop Loss : 1.20435  – Stop Loss : 1.20627

Commentary : The sterling moves in stiff boundaries on Thursday and hovers around $1.3950 mark. The pair made intraday high at $1.3954 and low at $1.3920 mark. Triple EMA on a day chart suggests up trend while in short run, some downside pressure is likely. A sustained close above $1.3982 on H1 chart requires for the upside rally. On the other hand, consistent close below $1.3920 will test further supports too. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3982S11.3920
R21.4010S21.3858
R31.4038S31.3815
R41.4086S41.3787
BUYSELL
  
Buy Above : 1.39683Sell Below : 1.39080
– Take Profit : 1.40141  – Take Profit : 1.38732
– Stop Loss : 1.39169  – Stop Loss : 1.39550

Commentary : The Canadian dollar trades marginally lower on Thursday and stabilizes above 1.2650 mark. A day chart with triple EMA confirms the bearish trend; while in short run, pair is likely to give some upside correction. The expected range for the parity will be 1.2692 to 1.2610 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                                    –
R11.2674S11.2610
R21.2692S21.2584
R31.2740S31.2555
R41.2776S41.2518
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.26907Sell Below : 1.26373
– Take Profit : 1.27183  – Take Profit : 1.26053
– Stop Loss : 1.26617  – Stop Loss : 1.26745

Commentary : The Japanese yen trades almost flat on Thursday and hovers around 107.00 mark. The triple EMA on a day and H1 chart suggest the bullish trend for the time being. The pair made intraday high at 107.10 and low at 106.95 mark. A sustained close above 107.07 on H1 requires for the upside rally. Alternatively, a consistent close below 106.80 will check key supports.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1107.22S1106.80
R2107.54S2106.53
R3107.98S3105.70
R4108.15S4105.22
BUYSELL
Trade IdeaTrade Idea
Buy Above : 107.204Sell Below : 106.823
– Take Profit : 107.397  – Take Profit : 106.584
– Stop Loss : 106.992  – Stop Loss : 107.085

Commentary : The gold spiked down sharply in previous session despite ADP job results disappointed the traders. The pair touched $1,701 mark in late U.S. session and today pair manages to recover slightly and stabilizes above $1,710 mark. A day as well as H1 chart still confirms the bearish trend for the time being. The pair made intraday high at $1,716 and low at $1,706 mark. The expected range for the parity will be $1,722 to $1,708 mark. A sustained close of either side on H1 chart requires to confirm further directions of the parity.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11722S11698
R21727S21692
R31732S31685
R41740S41677
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1719.25Sell Below : 1704.74
– Take Profit : 1729.57  – Take Profit : 1693.50
– Stop Loss : 1706.05  – Stop Loss : 1718.00

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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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