DAILY ANALYSIS REPORT MAY-05-2021

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Time Frame

H1

Commentary :  The Aussie enjoys roller coaster movement after RBA’s cash rate decision. Today Aussie strengthens and stabilizes above $0.77 mark. The pair made intraday high at $0.7737 and low at $0.7704 mark. A day chart confirms up trend in long run while on H1 chart triple EMA confirms bearish trend in short run. A sustained close above $0.7750 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7702 will check further supports. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7754S10.7702
R20.7770S20.7677
R30.7790S30.7640
R40.7812S40.7600
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.7742Sell Below : 0.7702
– Take Profit : 0.7765– Take Profit : 0.7678
– Stop Loss : 0.7710– Stop Loss : 0.7730

Commentary : The euro appreciates against U.S. dollar and stabilizes above $1.2000 mark. Today pair made intraday high at $1.2026 and low at $1.2008. Today triple EMA on a day chart is up while H1 chart confirms down trend for the time being. A consistent close above $1.2040 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2001 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                                    –
R11.2040S11.2001
R21.2067S21.1976
R31.2098S31.1948
R41.2122S41.1920
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2030 Sell Below : 1.1996
– Take Profit : 1.2058  – Take Profit : 1.1973
– Stop Loss : 1.2003  – Stop Loss : 1.2025

Commentary :  The pound appreciates on Wednesday and consolidates around $1.3900 mark. The pair made intraday high at $1.3914 and low at $1.3882 mark. Today a day chart and H1 chart with triple EMA confirm bullish trend but current downside movement is short term trend correction only. A sustained close above $1.3927 requires for the upside rally. Alternatively, a consistent close below $1.3882 will check further key supports. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3927S11.3882
R21.3954S21.3850
R31.3978S31.3802
R41.4001S41.3776
BUYSELL
  
Buy Above : 1.3915Sell Below : 1.3870
– Take Profit : 1.3950  – Take Profit : 1.3840
– Stop Loss : 1.3890  – Stop Loss : 1.3906

Commentary : The Canadian dollar strengthens gradually against U.S. dollar and remains well supported below 1.23 mark. Today pair made intraday high at 1.2312 and low at 1.2283 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 : 1.2310Sell Below : 1.2280
– Take Profit : 1.2337  – Take Profit : 1.2256
– Stop Loss : 1.2285  – Stop Loss : 1.2310

Commentary : The Japanese yen rises slightly on Wednesday and hovers around 109.20 mark. The pair made intraday high at 109.37 and low at 109.20 mark. The triple EMA on a day chart and H1 chart confirm bullish trend for the time being. A sustained close above 109.35 on H1 chart requires for the upside rally. Alternatively, a consistent close below 108.93 on H1 will check further key supports.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1109.35S1108.93
R2109.61S2108.65
R3109.82S3108.40
R4110.22S4108.22
BUYSELL
Trade IdeaTrade Idea
Buy Above : 109.40Sell Below : 109.00
– Take Profit : 109.65  – Take Profit : 108.77
– Stop Loss : 109.15  – Stop Loss : 109.35

Commentary : Gold remains volatile on Wednesday ahead of U.S.’s ADP Job Results and ISM services PMI data. Today pair made intraday high at $1,783 and low $1,776 mark. A day chart is bullish but H1 chart is confirming down trend for the time being. A sustained close above $1,782 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,774 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                                     –
R11,784S11774
R21,789S21768
R31,794S31762
R41,799S41756
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1756Sell Below : 1768
– Take Profit : 1791  – Take Profit : 1763
– Stop Loss : 1777  – Stop Loss : 1775

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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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