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DAILY ANALYSIS REPORT MAY-07-2021

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Time Frame

H1

Commentary : The Aussie trades marginally lower after RBA’s Monetary Policy Statement released in early Asian hours. The pair made intraday high at $0.7791 and low at $0.7773 mark. A day chart and H1 chart confirm up trend for the time being. A sustained close above $0.7790 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7770 will check further supports. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7790S10.7770
R20.7812S20.7740
R30.7854S30.7702
R40.7900S40.7677
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.7792Sell Below : 0.7765
– Take Profit : 0.7815– Take Profit : 0.7740
– Stop Loss : 0.7770– Stop Loss : 0.7794

Commentary : The euro moves in stiff boundaries on Friday and hovers around $1.2050 mark. Today pair made intraday high at $1.2069 and low at $1.2056. Today triple EMA on a day and H1 chart is confirming Up Trend. A consistent close above $1.2074 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2040 on H1 will check further supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2074S11.2040
R21.2098S21.2001
R31.2122S31.1976
R41.2150S41.1948
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2075 Sell Below : 1.2050
– Take Profit : 1.2104  – Take Profit : 1.2022
– Stop Loss : 1.2060  – Stop Loss : 1.2068

Commentary : The pound remained highly volatile in previous session after BOE’s Interest Rate Decision and currently pair stabilizes above $1.3900 mark. The pair made intraday high at $1.3912 and low at $1.3879 mark. Today a day chart and H1 chart with triple EMA confirm bullish trend for the time being. A sustained close above $1.3917 requires for the upside rally. Alternatively, a consistent close below $1.3878 will check further key supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.3927S11.3878
R21.3954S21.3850
R31.3978S31.3802
R41.4001S41.3776
BUYSELL
  
Buy Above : 1.3921Sell Below : 1.3870
– Take Profit : 1.3948  – Take Profit : 1.3840
– Stop Loss : 1.3885  – Stop Loss : 1.3910

Commentary : The Canadian dollar erases previous gain against U.S. dollar and hovers around 1.2170 mark. In previous session, pair hits lowest level since Sept 2017. Today pair made intraday high at 1.2178 and low at 1.2142 mark. A day chart and H1 chart with Triple EMA confirm bearish trend for the time being. A sustained close above 1.2193 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2146 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                                    –
R11.2193S11.2142
R21.2218S21.2104
R31.2247S31.2074
R41.228S41.2038
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2193Sell Below : 1.2147
– Take Profit : 1.2222  – Take Profit : 1.2115
– Stop Loss : 1.2170  – Stop Loss : 1.2186

Commentary : The Japanese yen trades flat on Friday and stabilizes around 109.10 mark. The pair made intraday high at 109.18 and low at 108.93 mark. The triple EMA on a day chart is bullish while H1 chart confirms bearish trend for the time being. A sustained close above 109.20 on H1 chart requires for the upside rally. Alternatively, a consistent close below 109.00 on H1 will check further key supports.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                     –
R1109.20S1108.93
R2109.48S2108.65
R3109.65S3108.40
R4109.82S4108.22
BUYSELL
Trade IdeaTrade Idea
Buy Above : 109.20Sell Below : 108.92
– Take Profit : 109.50  – Take Profit : 108.70
– Stop Loss : 109.00  – Stop Loss : 109.14

Commentary : Gold spiked up sharply in previous session as U.S. released economic data with mixed numbers and comments from FOMC members on current economic scenario. Today pair made intraday high at $1,822 and low $1,812 mark. It is the highest level since Feb 16, 2021. A day chart as well as H1 chart is confirming bullish trend for the time being. A sustained close above $1,820 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,810 will check further supports. The key event for the day will be U.S. NFP Job results. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11822S11807
R21827S21802
R31834S31794
R41840S41787
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1822Sell Below : 1809
– Take Profit : 1827  – Take Profit : 1802
– Stop Loss : 1815  – Stop Loss : 1815

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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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