Commentary : The Aussie trades slightly down on Wednesday and stabilizes below $0.7700 mark. A day chart still suggests bullish trend while H1 chart with triple EMA is about to give crossover for the bearish trend confirmation. A sustained close above $0.7718 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7674 will check further supports.
Indicators
H1
Trends
Down Trend
Moving Average (Period=75)
Below MA
RSI (Period=26)
Below RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
0.7727
S1
0.7674
R2
0.7744
S2
0.7625
R3
0.7782
S3
0.7599
R4
0.7806
S4
0.7563
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 0.77200
Sell Below : 0.76555
– Take Profit : 0.77596
– Take Profit : 0.76190
– Stop Loss : 0.76753
– Stop Loss : 0.76961
EUR / USD
Commentary : The euro depreciates slightly on Wednesday and hovers around $1.1880 mark. Today triple EMA on a day as well as H1 chart confirm the bearish trend only. A consistent close above $1.1905 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.1860 on H1 will check further supports.
Indicators
H1
Trends
Down Trend
Moving Average (Period=75)
Below MA
RSI (Period=26)
Below RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
1.1905
S1
1.1860
R2
1.1935
S2
1.1838
R3
1.1974
S3
1.1802
R4
1.2001
S4
1.1777
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 1.19219
Sell Below : 1.18576
– Take Profit : 1.19699
– Take Profit : 1.18134
– Stop Loss : 1.18734
– Stop Loss : 1.19034
GBP / USD
Commentary : The pound trades flat on Wednesday and stabilizes above $1.3850 mark. The pair made intraday high at $1.3892 and low at $1.3861 mark. Triple EMA on a day and H1 chart suggests up trend for the time being. A sustained close above $1.3890 on H1 chart requires for the upside rally. On the other hand, consistent close below $1.3853 on H1 will test further supports too.
Indicators
H1
Trends
Up Trend
Moving Average (Period=75)
Above MA
RSI (Period=26)
Above RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
1.3890
S1
1.3853
R2
1.3922
S2
1.3798
R3
1.3961
S3
1.3750
R4
1.3998
S4
1.3702
BUY
SELL
Buy Above : 1.39100
Sell Below : 1.38461
– Take Profit : 1.39486
– Take Profit : 1.38046
– Stop Loss : 1.38657
– Stop Loss : 1.38926
USD / CAD
Commentary : The Canadian dollar weakens noticeably on Wednesday ahead of BOC’s Interest Rate Decision. A day chart with triple EMA confirms the bearish trend but H1 suggests short term trend reversal for the time being. The expected range for the parity will be 1.2740 to 1.2610 mark. A sustained close of either side on H1 chart requires for the further trend confirmation.
Indicators
H1
Trends
Up Trend
Moving Average (Period=75)
Above MA
RSI (Period=26)
Above RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
1.2693
S1
1.2653
R2
1.2740
S2
1.2610
R3
1.2776
S3
1.2583
R4
1.2808
S4
1.2555
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 1.26889
Sell Below : 1.26330
– Take Profit : 1.27320
– Take Profit : 1.26035
– Stop Loss : 1.26493
– Stop Loss : 1.26677
USD / JPY
Commentary : The Japanese yen falls gradually against U.S. dollar and remains well supported above 108.50 mark. The pair made intraday high at 108.88 and low at 108.45 mark. The triple EMA on a day and H1 chart suggest the bullish trend for the time being. A sustained close above 109.20 on H1 chart requires for the upside rally. Alternatively, a consistent close below 108.47 on H1 will check key supports.
Indicators
H1
Trends
Up Trend
Moving Average (Period=75)
Above MA
RSI (Period=26)
Above RSI LEVEL 50
FIBO Levels
PIVOT
–
R1
109.20
S1
108.47
R2
109.56
S2
107.86
R3
109.82
S3
107.58
R4
110.22
S4
106.90
BUY
SELL
Trade Idea
Trade Idea
Buy Above : 109.028
Sell Below : 108.552
– Take Profit : 109.482
– Take Profit : 108.161
– Stop Loss : 108.598
– Stop Loss : 109.027
GOLD
Commentary : The gold spiked up sharply in previous session and touched $1,720 mark. Today gold trades marginally lower and stabilizes below $1,720 levels. Today pair made intraday high at $1,791 and low at $1,710 mark. A sustained close above $1,718 on H1 chart requires for the upside rally. Alternatively, reversal from here will drag the parity back below $1,700 mark. Today’s U.S. will remain important as U.S. Inflation data will come out to provide further directions to the U.S. dollar.
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