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DAILY ANALYSIS REPORT MAY-11-2021

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Time Frame

H1

Commentary : The Aussie appreciates on Tuesday and remains well supported above $0.78 mark. The pair made intraday high at $0.7845 and low at $0.7821 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 $0.7798 will check further supports. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7862S10.7798
R20.7900S20.7764
R30.7927S30.7740
R40.7958S40.7722
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.7854Sell Below : 0.7810
– Take Profit : 0.7880– Take Profit : 0.7777
– Stop Loss : 0.7821– Stop Loss : 0.7850

Commentary : The euro moves in stiff boundaries ahead of German ZEW Economic Sentiment Data and stabilizes above $1.2100 mark. Today pair made intraday high at $1.2148 and low at $1.2126. Today triple EMA on a day and H1 chart is confirming bullish Trend. A consistent close above $1.2171 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2120 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                                    –
R11.2178S11.2120
R21.2206S21.2097
R31.2248S31.2068
R41.2282S41.2040
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2178 Sell Below : 1.2127
– Take Profit : 1.2210  – Take Profit : 1.2092
– Stop Loss : 1.2140  – Stop Loss : 1.2170

Commentary : The pound spiked up sharply in previous session and hits highest level since Feb 25, 2021. Today also pair remains well supported above $1.41 mark. The pair made intraday high at $1.4134 and low at $1.4112 mark. Today a day chart and H1 chart with triple EMA confirm bullish trend for the time being. A sustained close above $1.4151 requires for the upside rally. Alternatively, a consistent close below $1.4110 will check further key supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.4151S11.4110
R21.4176S21.4076
R31.4200S31.4040
R41.4224S41.4002
BUYSELL
  
Buy Above : 1.4140Sell Below : 1.4094
– Take Profit : 1.4172  – Take Profit : 1.4057
– Stop Loss : 1.4099  – Stop Loss : 1.4133

Commentary : The Canadian dollar strengthens extremely against U.S. dollar and remains well supported below 1.2100 mark. Today pair made intraday high at 1.2113 and low at 1.2090 mark. A day chart and H1 chart with Triple EMA confirm bearish trend for the time being. A sustained close above 1.2127 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2082 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                                    –
R11.2127S11.2074
R21.2152S21.2038
R31.2193S31.2002
R41.2218S41.1980
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2130Sell Below : 1.2080
– Take Profit : 1.2155  – Take Profit : 1.2038
– Stop Loss : 1.2097  – Stop Loss : 1.2126

Commentary : The Japanese falls gradually against U.S. dollar despite robust household spending data and stabilizes below 109.00 mark. The pair made intraday high at 108.98 and low at 108.73 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
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above 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 : 108.62
– Take Profit : 109.30  – Take Profit : 108.38
– Stop Loss : 108.70  – Stop Loss : 108.95

Commentary : Gold remained volatile in previous session and stabilizes above $1,830 mark. In the absence of U.S. key economic indicators, gold is moving in stiff boundaries. Today pair made intraday high at $1,838 and low $1,831 mark. A day chart as well as H1 chart is confirming bullish trend for the time being. A sustained close above $1,843 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,828 will check further supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11846S11828
R21851S21822
R31857S31817
R41864S41810
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1838Sell Below : 1828
– Take Profit : 1846  – Take Profit : 1820
– Stop Loss : 1830  – Stop Loss : 1835

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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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