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DAILY ANALYSIS REPORT MAY-10-2021

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Time Frame

H1

Commentary:  The Aussie trades marginally lower as Australia released retail sales data with negative numbers. The pair made intraday high at $0.7862 and low at $0.7837 mark. A day chart and H1 chart confirm Bullish Trend for the time being. A sustained close above $0.7862 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7818 will check further supports. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7862S10.7837
R20.7900S20.7818
R30.7927S30.7787
R40.7958S40.7764
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.7862Sell Below : 0.7818
– Take Profit : 0.7891– Take Profit : 0.7790
– Stop Loss : 0.7830– Stop Loss : 0.7855

Commentary: The euro depreciates slightly on Monday and hovers around $1.2150 mark. Today pair made intraday high at $1.2176 and low at $1.2150. Today triple EMA on a day and H1 chart is confirming Up Trend. A consistent close above $1.2170 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2120 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                                    –
R11.2176S11.2150
R21.2206S21.2120
R31.2248S31.2098
R41.2282S41.2068
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2176 Sell Below : 1.2115
– Take Profit : 1.2202  – Take Profit : 1.2086
– Stop Loss : 1.2138  – Stop Loss : 1.2150

Commentary: The pound strengthens sharply ahead of HPI data and hits highest level since Feb 25, 2021. The pair made intraday high at $1.4049 and low at $1.3992 mark. Today a day chart and H1 chart with triple EMA confirm bullish trend for the time being. A sustained close above $1.4061 requires for the upside rally. Alternatively, a consistent close below $1.3985 will check further key supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.4061S11.3985
R21.4061S21.3940
R31.4117S31.3910
R41.4154S41.3882
BUYSELL
  
Buy Above : 1.4061Sell Below : 1.4001
– Take Profit : 1.4094  – Take Profit : 1.3960
– Stop Loss : 1.4022  – Stop Loss : 1.4045

Commentary : The Canadian dollar rises sharply against U.S. dollar and touches 1.2110 mark in early Asia. The pair hits lowest level since Sept 2017. Today pair made intraday high at 1.2130 and low at 1.2110 mark. A day chart and H1 chart with Triple EMA confirm bearish trend for the time being. A sustained close above 1.2152 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2100 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                                    –
R11.2152S11.2104
R21.2193S21.2074
R31.2218S31.2038
R41.2247S41.2002
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2152Sell Below : 1.2105
– Take Profit : 1.2186  – Take Profit : 1.2065
– Stop Loss : 1.2109  – Stop Loss : 1.2130

Commentary: The Japanese yen erases previous gain against U.S. dollar and hovers around 109.00 mark. The pair made intraday high at 108.91 and low at 108.46 mark. The triple EMA on a day chart is bullish while H1 chart confirms bearish trend for the time being. A sustained close above 109.05 on H1 chart requires for the upside rally. Alternatively, a consistent close below 108.52 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                                     –
R1109.05S1108.52
R2109.42S2108.33
R3109.65S3108.00
R4109.82S4107.68
BUYSELL
Trade IdeaTrade Idea
Buy Above : 109.05Sell Below : 108.52
– Take Profit : 109.32  – Take Profit : 108.27
– Stop Loss : 108.75  – Stop Loss : 108.86

Commentary : Gold soars and remains well supported above $1,830 mark. The sudden upside movement came on last Friday as U.S. released NFP job results with negative numbers. Today pair made intraday high at $1,839 and low $1,830 mark. It is the highest level since Feb 11, 2021. A day chart as well as H1 chart is confirming bullish trend for the time being. A sustained close above $1,838 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,828 will check further supports. The U.S. calendar is empty for the day and might bring high volatility during the U.S. session. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11844S11828
R21851S21822
R31857S31817
R41864S41810
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1841Sell Below : 1830
– Take Profit : 1848  – Take Profit : 1822
– Stop Loss : 1835  – Stop Loss : 1838

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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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