DAILY ANALYSIS REPORT MARCH-10-2021

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Time Frame

H1

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. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7727S10.7674
R20.7744S20.7625
R30.7782S30.7599
R40.7806S40.7563
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.77200Sell Below : 0.76555
– Take Profit : 0.77596– Take Profit : 0.76190
– Stop Loss : 0.76753– Stop Loss : 0.76961

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. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.1905S11.1860
R21.1935S21.1838
R31.1974S31.1802
R41.2001S41.1777
BUYSELL
Trade IdeaTrade 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

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. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3890S11.3853
R21.3922S21.3798
R31.3961S31.3750
R41.3998S41.3702
BUYSELL
  
Buy Above : 1.39100Sell Below : 1.38461
– Take Profit : 1.39486  – Take Profit : 1.38046
– Stop Loss : 1.38657  – Stop Loss : 1.38926

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. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2693S11.2653
R21.2740S21.2610
R31.2776S31.2583
R41.2808S41.2555
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.26889Sell Below : 1.26330
– Take Profit : 1.27320  – Take Profit : 1.26035
– Stop Loss : 1.26493  – Stop Loss : 1.26677

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.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1109.20S1108.47
R2109.56S2107.86
R3109.82S3107.58
R4110.22S4106.90
BUYSELL
Trade IdeaTrade Idea
Buy Above : 109.028Sell Below : 108.552
– Take Profit : 109.482  – Take Profit : 108.161
– Stop Loss : 108.598  – Stop Loss : 109.027

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.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11722S11702
R21727S21691
R31732S31685
R41740S41678
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1721.44Sell Below : 1706.61
– Take Profit : 1729.92  – Take Profit : 1696.65
– Stop Loss : 1711.77  – Stop Loss : 1716.57

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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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