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DAILY ANALYSIS REPORT MAY-06-2021

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Time Frame

H1

Commentary : The Aussie depreciates sharply against major peers after China suspended indefinitely all activities under the China-Australia Strategic Economic Dialogue Mechanism. The pair made intraday high at $0.7757 and low at $0.7701 mark. A day chart confirms up trend in long run while on H1 chart triple EMA may give crossover for the bearish trend confirmation. A sustained close above $0.7755 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 : 0.7757Sell Below : 0.7702
– Take Profit : 0.7790– Take Profit : 0.7676
– Stop Loss : 0.7720– Stop Loss : 0.7740

Commentary : The euro trades almost flat on Thursday and consolidates around $1.20 mark. Today pair made intraday high at $1.2011 and low at $1.1993. Today triple EMA on a day chart is up while H1 chart confirms down trend for the time being. A consistent close above $1.2018 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2000 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 : 1.2020 Sell Below : 1.1992
– Take Profit : 1.2045  – Take Profit : 1.1968
– Stop Loss : 1.1998  – Stop Loss : 1.2015

Commentary : The pound rises gradually against U.S. dollar and stabilizes around $1.3900 mark. The pair made intraday high at $1.3913 and low at $1.3885 mark. Today a day chart and H1 chart with triple EMA confirm bullish trend for the time being. A sustained close above $1.3911 requires for the upside rally. Alternatively, a consistent close below $1.3882 will check further key supports.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3927S11.3882
R21.3954S21.3850
R31.3978S31.3802
R41.4001S41.3776
BUYSELL
  
Buy Above : 1.3927Sell Below : 1.3868
– Take Profit : 1.3967  – Take Profit : 1.3838
– Stop Loss : 1.3884  – Stop Loss : 1.3911

Commentary : The Canadian dollar appreciates remarkably against U.S. dollar and remains well supported below 1.23 mark. Today pair made intraday high at 1.2288 and low at 1.2257 mark. A day chart and H1 chart with Triple EMA confirm bearish trend for the time being. A sustained close above 1.2299 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2256 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                                    –
R11.2299S11.2251
R21.2315S21.2210
R31.2343S31.2178
R41.2371S41.2150
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2299Sell Below : 1.2250
– Take Profit : 1.2323  – Take Profit : 1.2218
– Stop Loss : 1.2270  – Stop Loss : 1.2290

Commentary : The Japanese yen moves in stiff boundaries on Thursday and stabilizes around 109.40 mark. The pair made intraday high at 109.42 and low at 109.14 mark. The triple EMA on a day chart and H1 chart confirm bullish trend for the time being. A sustained close above 109.48 on H1 chart requires for the upside rally. Alternatively, a consistent close below 109.10 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                                     –
R1109.48S1108.93
R2109.65S2108.65
R3109.82S3108.40
R4110.22S4108.22
BUYSELL
Trade IdeaTrade Idea
Buy Above : 109.50Sell Below : 109.05
– Take Profit : 109.68  – Take Profit : 108.82
– Stop Loss : 109.11  – Stop Loss : 109.40

Commentary : Gold strengthens on sharply on Thursday and touches $1,793 mark. Today pair made intraday high at $1,793 and low $1,782 mark. A day chart as well as H1 chart is confirming bullish trend for the time being. A sustained close above $1,794 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,782 will check further supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11794S11782
R21799S21776
R31805S31772
R41812S41768
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1799Sell Below : 1782
– Take Profit : 1809  – Take Profit : 1775
– Stop Loss : 1787  – Stop Loss : 1794

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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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