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DAILY ANALYSIS REPORT MAY 31 2021

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Time Frame

H1

Commentary : The Aussie rises in early Asia after mixed economic data and stabilizes above $0.77 mark. The pair made intraday high at $0.7728 and low at $0.7700 mark. A day chart is bullish while H1 chart with triple EMA confirms bearish trend for the time being. A sustained close above $0.7740 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7702 will check further supports. 
IndicatorsH1
TrendsDown Trend
Moving Average (Period=75)Below MA
RSI (Period=26)Below RSI LEVEL 50
FIBO Levels                                 PIVOT                                    –
R10.7740S10.7702
R20.7755S20.7677
R30.7772S30.7638
R40.7790S40.7600
BUYSELL
Trade IdeaTrade Idea
Buy Above : 0.7740Sell Below : 0.7697
– Take Profit : 0.7772– Take Profit : 0.7676
– Stop Loss : 0.7700– Stop Loss : 0.7730

Commentary : The euro trades almost flat on Monday as European calendar is light too. Today pair made intraday high at $1.2204 and low at $1.2184. Today triple EMA on a day chart is up but H1 chart suggests down trend for the time being. A consistent close above $1.2205 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2176 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                                    –
R11.2205S11.2176
R21.2228S21.2150
R31.2262S31.2132
R41.2290S41.2100
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2210 Sell Below : 1.2176
– Take Profit : 1.2238  – Take Profit : 1.2148
– Stop Loss : 1.2182  – Stop Loss : 1.2200

Commentary : The Sterling trades marginally higher on Monday and hovers around $1.42 mark against U.S. dollar. The pair made intraday high at $1.4200 and low at $1.4173 mark. A day chart as well as H1 chart with triple EMA suggest up trend for the time being. A sustained close above $1.4211 on H1 chart will check key resistances. Alternatively, a consistent close below $1.4170 will check further supports.
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                  PIVOT                                     –
R11.4211S11.4170
R21.4230S21.4138
R31.4267S31.4115
R41.4296S41.4090
BUYSELL
  
Buy Above : 1.4211Sell Below : 1.4170
– Take Profit : 1.4238  – Take Profit : 1.4137
– Stop Loss : 1.4176  – Stop Loss : 1.4206

Commentary : The Canadian dollar moves in stiff boundaries and consolidates around 1.2090 mark. Today pair made intraday high at 1.2086 and low at 1.2065 mark. Today a day and H1 chart with Triple EMA confirms down trend for the time being. A sustained close above 1.2090 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2064 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                                    –
R11.2090S11.2064
R21.2140S21.2042
R31.2172S31.2015
R41..2204S41.2000
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1.2092Sell Below : 1.2058
– Take Profit : 1.2122  – Take Profit : 1.2032
– Stop Loss : 1.2064  – Stop Loss : 1.2085

Commentary : The Japanese yen strengthens in early Asia despite lower than expected Industrial production and retail sales data. The pair made intraday high at 109.93 and low at 109.63 mark. The triple EMA on a day chart and H1 chart suggest bullish trend for the time being. Current downside movement is likely to be short term trend correction only. A sustained close above 109.92 on H1 chart requires for the upside rally. Alternatively, a consistent close below 109.47 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                                     –
R1110.02S1109.47
R2110.24S2109.15
R3110.55S3108.82
R4110.78S4108.60
BUYSELL
Trade IdeaTrade Idea
Buy Above : 109.92Sell Below : 109.55
– Take Profit : 110.20  – Take Profit : 109.22
– Stop Loss : 109.62  – Stop Loss : 109.87

Commentary : Gold starts a new week on a positive note and touches $1,910 mark in opening hours. Today pair made intraday high at $1,910 and low $1,902 mark. A day chart and H1 chart with triple EMA confirm bullish trend for the time being. A sustained close above $1,910 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,898 will check further supports. 
IndicatorsH1
TrendsUp Trend
Moving Average (Period=75)Above MA
RSI (Period=26)Above RSI LEVEL 50
FIBO Levels                                   PIVOT                                     –
R11910S11902
R21916S21897
R31922S31891
R41928S41886
BUYSELL
Trade IdeaTrade Idea
Buy Above : 1910Sell Below : 1898
– Take Profit : 1916  – Take Profit : 1891
– Stop Loss : 1901  – Stop Loss : 1908

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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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