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DAILY ANALYSIS REPORT MAY-20-2021

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Time Frame

H1

Commentary : The Aussie rises sharply after mixed employment change data. The pair made intraday high at $0.7748 and low at $0.7716 mark. A day chart suggests bullish trend while H1 chart confirms bearish trend for the time being. A sustained close above $0.7757 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7715 will check further supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7757S10.7715
R20.7790S20.7690
R30.7822S30.7662
R40.7854S40.7638
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.7760Sell Below : 0.7710
– Take Profit : 0.7790– Take Profit : 0.7676
– Stop Loss : 0.7737– Stop Loss : 0.7750

Commentary : The euro enjoys roller coaster movement against U.S. dollar and today the parity is trading marginally higher around $1.2180 mark. Today pair made intraday high at $1.2185 and low at $1.2168. Today triple EMA on a day is up but H1 chart suggests bearish trend for the time being. A consistent close above $1.2202 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2168 on H1 chart will check further supports.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2202S11.2168
R21.2228S21.2138
R31.2257S31.2101
R41.2287S41.2074
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2202 Sell Below : 1.2160
– Take Profit : 1.2240  – Take Profit : 1.2128
– Stop Loss : 1.2168  – Stop Loss : 1.2196

Commentary : The Sterling trades flat against U.S. dollar and stabilizes back below $1.4200 mark. The pair made intraday high at $1.4121 and low at $1.4101 mark. A day chart is showing up trend but H1 chart with triple EMA confirms bearish trend for the time being. A sustained close above $1.4140 on H1 chart will check key resistances. Alternatively, reversal from here will take the parity down below $1.4100 mark.
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.4140S11.4086
R21.4176S21.4050
R31.4205S31.4022
R41.4238S41.4001
BUYSELL
  
Buy Above : 1.4132Sell Below : 1.4088
– Take Profit : 1.4154  – Take Profit : 1.405
– Stop Loss : 1.4098  – Stop Loss : 1.4120

Commentary : The Canadian dollar exhibits range bound movement against U.S. dollar and remains well supported below 1.2150 mark. Today pair made intraday high at 1.2139 and low at 1.2105 mark. Today a day chart is bearish but H1 chart with Triple EMA confirms bullish trend for the time being. A sustained close above 1.2140 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2089 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                                    –
R11.2140S11.2089
R21.2172S21.2048
R31.2198S31.2002
R41.2218S41.1978
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.64489Sell Below : 0.64489
– Take Profit : 0.64489  – Take Profit : 0.64489
– Stop Loss : 0.64489  – Stop Loss : 0.64489

Commentary : The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.07% to 90.13 points.
USD/JPY: The Japanese yen remains almost unchanged despite lower than expected Core Machinery orders data and flat trade balance data. The pair made intraday high at 109.30 and low at 109.09 mark. The triple EMA on a day chart and H1 chart suggest bullish trend for the time being. A sustained close above 109.30 on H1 chart requires for the upside rally. Alternatively, a consistent close below 108.85 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                                     –
R1109.30S1108.85
R2109.55S2108.68
R3109.76S3108.4
R4110.10S4108.15
BUYSELL
Trade IdeaTrade Idea
Buy Above : 109.30Sell Below : 109.00
– Take Profit : 109.54  – Take Profit : 108.80
– Stop Loss : 109.05  – Stop Loss : 109.20

Commentary : Gold remained highly volatile in previous session and currently stabilizes around $1,870 mark. Today pair made intraday high at $1,879 and low $1,863 mark. A day chart and H1 chart is confirm up trend for the time being. A sustained close above $1,889 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,855 will check further supports. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11890S11862
R21897S21855
R31904S31848
R41910S41840
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1882Sell Below : 1862
– Take Profit : 1889  – Take Profit : 1855
– Stop Loss : 1875  – Stop Loss : 1871

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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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