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DAILY ANALYSIS REPORT MAY 26 2021

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Time Frame

H1

Commentary : The Aussie strengthens sharply after higher than expected key economic indicators released in early Asian hours and parity is likely to break key resistance at $0.7790 mark. The pair made intraday high at $0.7784 and low at $0.7746 mark. A day chart and H1 chart with triple EMA confirm bullish trend for the time being. A sustained close above $0.7790 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7740 will check further supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7790S10.7740
R20.7837S20.7715
R30.7854S30.7690
R40.7878S40.7662
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.7790Sell Below : 0.7740
– Take Profit : 0.7822– Take Profit : 0.7710
– Stop Loss : 0.7755– Stop Loss : 0.7783

Commentary : The euro appreciates on Wednesday and stabilizes around $1.2250 mark. Today’s European Economic Calendar is empty and therefore likely to have range bound movement for the day. Today pair made intraday high at $1.2260 and low at $1.2241. Today triple EMA on a day chart and H1 chart suggest upward trend for the time being. A consistent close above $1.2292 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2238 on H1 chart will check further supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                               PIVOT                                    –
R11.2292S11.2238
R21.2310S21.2190
R31.2349S31.2165
R41.2378S41.2138
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2272 Sell Below : 1.2232
– Take Profit : 1.2298  – Take Profit : 1.2197
– Stop Loss : 1.2240  – Stop Loss : 1.2265

Commentary : The Sterling trades in narrow range on Wednesday and hovers around $1.4150 mark. The pair made intraday high at $1.4163 and low at $1.4140 mark. A day chart is up but H1 chart with triple EMA suggests bearish trend for the time being. A sustained close above $1.4172 on H1 chart will check key resistances. Alternatively, a consistent close below $1.4138 will check further supports.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.4172S11.4138
R21.4187S21.4112
R31.4211S31.4082
R41.4254S41.4040
BUYSELL
  
Buy Above : 1.4172Sell Below : 1.4127
– Take Profit : 1.4200  – Take Profit : 1.4096
– Stop Loss : 1.4138  – Stop Loss : 1.4165

Commentary : The Canadian dollar rises gradually against U.S. dollar and consolidates around 1.2050 mark. Later today BOC Gov Council Member Lane’s speech is there, it may bring volatility to the CAD parity. Today pair made intraday high at 1.2068 and low at 1.2045 mark. Today a day chart as well as H1 chart with Triple EMA confirm bearish trend for the time being. A sustained close above 1.2067 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2032 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                                    –
R11.2067S11.2032
R21.2090S21.2002
R31.2140S31.1978
R41.2172S41.1944
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2070Sell Below : 1.2038
– Take Profit : 1.2091  – Take Profit : 1.201
– Stop Loss : 1.2048  – Stop Loss : 1.2065

Commentary : The Japanese yen exhibits range bound movement despite robust SPPI data and consolidates around 108.80 mark. The pair made intraday high at 108.82 and low at 108.72 mark. The triple EMA on a day chart is up but H1 chart suggests bearish trend for the time being. A sustained close above 108.99 on H1 chart requires for the upside rally. Alternatively, a consistent close below 108.58 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                                     –
R1108.99S1108.58
R2109.30S2108.40
R3109.55S3108.15
R4109.76S4107.87
BUYSELL
Trade IdeaTrade Idea
Buy Above : 108.99Sell Below : 108.64
– Take Profit : 109.25  – Take Profit : 108.38
– Stop Loss : 108.80  – Stop Loss : 108.87

Commentary : Gold spiked up sharply in previous session as U.S. released key economic data with negative numbers and today gold touches $1,907 mark in early Asian hours. The parity hits highest level since Jan 08, 2021. Today pair made intraday high at $1,907 and low $1,897 mark. A day chart and H1 chart with triple EMA confirm the bullish trend for the time being. A sustained close above $1,909 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,887 will check further supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11909S11898
R21913S21892
R31919S31887
R41925S41881
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1909Sell Below : 1896
– Take Profit : 1916  – Take Profit : 1889
– Stop Loss : 1902  – Stop Loss : 0.64489

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