DAILY ANALYSIS REPORT FEBRUARY 02 2021

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02 February, 2021
Daily Analysis Report

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Asian Bulle n: Aussie falls dras cally a er RBA’s Interest Rate Decision, Asian stock markets in green, gold down
Key Headlines:
• RBA – Kept Interest Rate unchanged at 0.10 pct.
• RBA – Purchase an addi onal $100 billion of bonds issued by the Australian Government and states and territories when the current bond purchase program
is completed in mid April.
• RBA - Path ahead is likely to remain bumpy and uneven.
• RBA - Infla on remains low and below central bank targets.
• RBA - GDP to grow by 3½ per cent over both 2021 and 2022.
• RBA - Unemployment likely to be around 6 per cent at the end of 2021 and 5½ per cent at the end of 2022.
• RBA - Infla on is expected to be 1¼ per cent over 2021 and 1½ per cent over 2022.
• RBA - The Board will not increase the cash rate un l actual infla on is sustainably within the 2 to 3 per cent target range.
• South Korea CPI y/y stands at 0.6 pct vs 0.5 pct previous release (expected 0.3).
• Silver spiked up sharply and touched $30.13 in previous session, hit highest level since Feb 2013.
• Oil prices go up as OPEC+ members support prices with produc on cuts.
• U.S. President Biden – He will not se le for Covid - 19 aid package that “fails to meet the moment”.
• Fed’s Bos c – Hard to pinpoint how much more fiscal help is needed.
• Fed’s Kaplan – To return to normal, need aggressive Fiscal and Fed ac on.
• Britain faces trade issue on overloaded paperwork everywhere.
Economic Data Ahead:
• (0700 GMT/1230 IST) U.K. Na onwide HPI m/m, previous 0.8, expected 0.3.
• (0745 GMT/1315 IST) France Prelim CPI, previous 0.2, expected 0.0.
• (0800 GMT/1330 IST) Spain unemployment change, previous 36.8K, expected 35.3K.
• (0900 GMT/1430 IST) Italy prelim GDP, previous 15.9, expected -2.0.
• (1000 GMT/1530 IST) Euro prelim flash GDP, previous 12.5, expected -0.9.
Economic Events Ahead:
• No key events scheduled for the day.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.10% to 90.89 points.

3. AUD / USD
BUY SELL
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FEBRUARY,
2
021
Technical Summary
Trends Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
0.7676
R2 S2
0.7712
R3 S3
0.7776
R4
Commentary
S4
0.7854
Buy Above 0.76707
0.76964
0.76416
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.76101
0.75829
0.76441
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie weakens sharply after RBA’s Monetary Policy Statement as RBA kept
interest rate unchanged as expected. The pair made intraday high at $0.7661 and low at $0.7616
mark. Here both RSI and EMA confirm the bearish trend on H1 chart, while triple EMA still
confirms upside movement on a Day Chart. A sustained close below $0.7602 will check key
supports. Alternatively, reversal from hey support will drag the parity back above $0.7650 mark.
0.7602
0.7590
0.7520
0.7500

4. BUY SELL
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Technical Summary
Trends Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1.3740
R2 S2
1.3762
R3 S3
1.3802
R4
Commentary
S4
1.3844
Buy Above 1.37203
1.37560
1.36779
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.36743
1.36433
1.37101
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The pound exhibits range bound movement and consolidates around $1.3690 mark.
Both RSI and triple EMA support the uptrend. The key boundaries for the parity will be $1.3703
and $1.3658 mark. A sustained close of either side will get further directions to the parity.
GBP / USD
1.3658
1.3622
1.3600
1.3552
FEBRUARY,
2
021

5. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.2128
R2 S2
1.2160
R3 S3
1.2232
R4
Commentary
S4
1.2265
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Time Frame: H1
EUR/USD: The euro reverses previous loss against U.S. dollar and trades marginally higher on
Tuesday. On a day chart, triple EMA still suggests the trend reversal while H1 chart confirms the
bearish trend. Here, yesterday’s close and today’s low are same as $1.2059 mark. A consistent
close below requires for the downside rally. Otherwise, current upside trend will take the parity
back above $1.21 mark.
EUR / USD
1.2058
1.2040
1.2001
1.1922
FEBRUARY,
2
021
Buy Above 1.21046
1.21297
1.20784
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.20606
1.20395
1.20831
– Take Profit
– Stop Loss
Trade Idea
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50

6. BUY SELL
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Technical Summary
Trends Up Trend
Moving Average (Period=75A) Above MA
H 1
RSI (Period=26) Above RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1.2840
R2 S2
1.2882
R3 S3
1.2902
R4
Commentary
S4
1.2957
Buy Above 1.28589
1.28872
1.28296
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.28023
1.27701
1.28408
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/CAD: The Canadian dollar trades marginally higher on Tuesday and trading around 1.2830
mark. On a day chart, triple EMA supports the bearish trend while on H1 chart, triple EMA and RSI
confirm up trend. The key range for the day will be 1.2840 and 1.2810 mark. A sustained close of
either side will only provide further direction of the parity.
USD /CAD
1.2810
1.2780
1.2735
1.2690
FEBRUARY,
2
021

7. BUY SELL
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Technical Summary
Trends Up Trend
Moving Average (Period=75) Above MA
H 1
RSI (Period=26) Above RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
105.42
R2 S2
105.94
R3 S3
106.26
R4
Commentary
S4
106.50
Buy Above 105.047
105.307
104.778
– Take Profit
– Stop Loss
Trade Idea
Sell Below 104.776
104.536
105.035
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/JPY: The Japanese yen moves in stiff boundaries on Tuesday and breaks key hurdle at
104.90 mark. The pair remains well supported above triple EMA and thus signifies bullish trend for
the time being. A daily close below 104.10 will check key supports. On the top side, a consistent
close above 104.92 requires for the upside rally.
USD /JPY
104.10
103.57
102.90
102.50
FEBRUARY,
2
021

8. BUY SELL
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Technical Summary
Trends Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1867
R2 S2
1872
R3 S3
1884
R4
Commentary
S4
1892
Buy Above 1862.53
1870.53
1852.67
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1848.56
1841.42
1858.88
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
XAU/USD (GOLD): Gold weakens on Tuesday and faces key hurdle to break $1,872 mark. On a
Day Chart, both RSI and EMA signal the bearish trend. Alternatively, a sustained close above
$1,872 requires for the upside rally. In addition, key downside hurdle is seen at $1,847 mark. A
consistent close below will check further supports too. Today no key economic indicators are
schedule to release from the U.S.
XAU [GOLD]
USD
/
1847
1840
1832
1820
FEBRUARY,
2
021

9. Thank
you!
Info@tpglobalfx.com
www.tpglobalfx.com
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