DAILY ANALYSIS REPORT MAY-04-2021

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Time Frame

H1

Commentary : The Aussie weakens slightly after RBA’s Cash Rate Decision. The pair made intraday high at $0.7763 and low at $0.7735 mark. A day chart confirms up trend in long run while on H1 chart triple EMA might crossover successfully to confirm bearish trend in short run. A sustained close above $0.7770 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7722 will check further supports. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7770S10.7722
R20.7790S20.7702
R30.7812S30.7677
R40.7832S40.7640
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.7770Sell Below : 0.7722
– Take Profit : 0.7802– Take Profit : 0.7696
– Stop Loss : 0.7735– Stop Loss : 0.7761

Commentary : The euro reverses previous gain against U.S. dollar and hovers around $1.2050 mark. Today pair made intraday high at $1.2063 and low at $1.2042. Today triple EMA on a day chart is up while H1 chart confirms down trend for the time being. A consistent close above $1.2067 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2016 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                                    –
R11.2067S11.2001
R21.2098S21.1976
R31.2122S31.1948
R41.2148S41.1920
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2070 Sell Below : 1.2020
– Take Profit : 1.2098  – Take Profit : 1.1998
– Stop Loss : 1.2032  – Stop Loss : 1.2065

Commentary : The pound depreciates on Tuesday ahead of U.K.’s Final Manufacturing PMI results. The pair made intraday high at $1.3911 and low at $1.3873 mark. Today a day chart is bullish while H1 chart with triple EMA might give crossover to confirm the bearish trend. A sustained close above $1.3927 requires for the upside rally. Alternatively, a consistent close below $1.3850 will check further key supports. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3927S11.3850
R21.3954S21.3802
R31.3978S31.3780
R41.4001S41.3742
BUYSELL
  
Buy Above : 1.3921Sell Below : 1.3854
– Take Profit : 1.3954  – Take Profit : 1.3810
– Stop Loss : 1.3890  – Stop Loss : 1.3890

Commentary : The Canadian dollar moves in stiff boundaries and remains well supported below 1.23 mark. Today pair made intraday high at 1.2298 and low at 1.2273 mark. A day chart and H1 chart with Triple EMA confirm bearish trend for the time being. A sustained close above 1.2315 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2270 on H1 chart will check key supports too. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R11.2315S11.2270
R21.2343S21.2255
R31.2371S31.2210
R41.2392S41.2178
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2315Sell Below : 1.2280
– Take Profit : 1.2343  – Take Profit : 1.2255
– Stop Loss : 1.2290  – Stop Loss : 1.2312

Commentary : The Japanese yen trades marginally lower against U.S. dollar and stabilizes above 109.00 mark. The pair made intraday high at 109.26 and low at 109.00 mark. The triple EMA on a day chart is bullish while H1 chart suggest down trend for the time being. A sustained close above 109.38 on H1 chart requires for the upside rally. Alternatively, a consistent close below 108.93 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                                     –
R1109.38S1108.93
R2109.61S2108.65
R3109.82S3108.40
R4110.22S4108.22
BUYSELL
Trade IdeaTrade Idea
Buy Above : 109.40Sell Below : 108.90
– Take Profit : 109.65  – Take Profit : 108.67
– Stop Loss : 109.00  – Stop Loss : 109.32

Commentary : Gold depreciates on Tuesday and stabilizes below $1,790 mark. Today pair made intraday high at $1,793 and low $1,784 mark. A day chart as well as H1 chart is confirming Up Trend for the time being. A sustained close above $1,793 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,778 will check further supports. Later today, U.S. will release factory orders data.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11793S11778
R21798S21772
R31805S31766
R41812S41762
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1793Sell Below : 1778
– Take Profit : 1799  – Take Profit : 1772
– Stop Loss : 1787  – Stop Loss : 1787

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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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