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DAILY ANALYSIS REPORT MAY 06 2021

DAILY ANALYSIS REPORT MAY 06 2021

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DAILY ANALYSIS REPORT MAY 06 2021

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com R E P O R T F R O M : T P G LO B A L F X 06 May , 2021 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Aussie remains highly vola le a er China suspends Economic Talk with Australia, Asian stock markets mixed, gold up Key Headlines: • New Zealand building consents stand at 17.9 vs -19.3 previous release. • New Zealand Prelim ANZ business confidence stands at 7.0 vs -2.0 previous release. • South Korea FX Reserves stands at 452.31B vs 446.13B previous release. • Brazil raised key interest rate to 3.50 pct vs 2.75 pct previous release. • China State Planner - To suspend indefinitely all ac vi es under the China - Australia strategic Economic Dialogue Mechanism. Economic Data Ahead: • (0830 GMT/1400 IST) U.K. Final Services PMI, previous 60.1, expected 60.2. • (0900 GMT/1430 IST) Euro Retail sales, previous 3.0, expected 1.5. • (1100 GMT/1630 IST) U.K. Interest Rate Decision, previous 0.10, expected 0.10. • (1200 GMT/1800 IST) U.S. unemployment claims weekly, previous 553K, expected 540K. • (1230 GMT/1800 IST) U.S. Prelim Nonfarm produc vity, previous -4.2, expected 4.3. • (1230 GMT/1800 IST) U.S. Prelim unit labor costs, previous 6.0, expected -1.1. Economic Events Ahead: • (0800 GMT/1330 IST) ECB Economic Bulle n. • (0900 GMT/1430 IST) Australia RBA Deputy Gov Dabelle Speaks. • (1115 GMT/1645 IST) ECB President Lagarde speaks. • (1300 GMT/1830 IST) U.S. FOMC member Williams Speaks. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.04% to 91.34 points.
  3. 3. AUD / USD BUY SELL R E P O R T F R O M : T P G LO B A L F X MAY, 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 0.7754 R2 S2 0.7770 R3 S3 0.7790 R4 Commentary S4 0.7812 Buy Above 0.7757 0.7790 0.7720 – Take Profit – Stop Loss Trade Idea Sell Below 0.7702 0.7676 0.7740 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 AUD/USD: The Aussie depreciates sharply against major peers after China suspended indefinitely all activities under the China-Australia Strategic Economic Dialogue Mechanism. The pair made intraday high at $0.7757 and low at $0.7701 mark. A day chart confirms up trend in long run while on H1 chart triple EMA may give crossover for the bearish trend confirmation. A sustained close above $0.7755 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7702 will check further supports. 0.7702 0.7677 0.7640 0.7600
  4. 4. BUY SELL R E P O R T F R O M : T P G LO B A L F X Technical Summary H 1 FIBO Levels PIVOT R1 S1 1.2040 R2 S2 1.2067 R3 S3 1.2098 R4 Commentary S4 1.2122 +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 EUR/USD: The euro trades almost flat on Thursday and consolidates around $1.20 mark. Today pair made intraday high at $1.2011 and low at $1.1993. Today triple EMA on a day chart is up while H1 chart confirms down trend for the time being. A consistent close above $1.2018 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2000 on H1 will check further supports. EUR / USD 1.2001 1.1976 1.1948 1.1920 Buy Above 1.2020 1.2045 1.1998 – Take Profit – Stop Loss Trade Idea Sell Below 1.1992 1.1968 1.2015 – Take Profit – Stop Loss Trade Idea Trends Down Trend Moving Average (Period=75) Below MA RSI (Period=26) Below RSI LEVEL 50 MAY, 2 021
  5. 5. BUY SELL R E P O R T F R O M : T P G LO B A L F X Technical Summary H 1 FIBO Levels PIVOT R1 S1 1.3927 R2 S2 1.3954 R3 S3 1.3978 R4 Commentary S4 1.4001 Buy Above 1.3927 1.3967 1.3884 – Take Profit – Stop Loss Trade Idea Sell Below 1.3868 1.3838 1.3911 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 GBP/USD: The pound rises gradually against U.S. dollar and stabilizes around $1.3900 mark. The pair made intraday high at $1.3913 and low at $1.3885 mark. Today a day chart and H1 chart with triple EMA confirm bullish trend for the time being. A sustained close above $1.3911 requires for the upside rally. Alternatively, a consistent close below $1.3882 will check further key supports. USD 1.3882 1.3850 1.3802 1.3776 GBP/ Trends Up Trend Moving Average (Period=75) Above MA RSI (Period=26) Above RSI LEVEL 50 MAY, 2 021
  6. 6. BUY SELL R E P O R T F R O M : T P G LO B A L F X 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 1.2299 R2 S2 1.2315 R3 S3 1.2343 R4 Commentary S4 1.2371 Buy Above 1.2299 1.2323 1.2270 – Take Profit – Stop Loss Trade Idea Sell Below 1.2250 1.2218 1.2290 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/CAD: The Canadian dollar appreciates remarkably against U.S. dollar and remains well supported below 1.23 mark. Today pair made intraday high at 1.2288 and low at 1.2257 mark. A day chart and H1 chart with Triple EMA confirm bearish trend for the time being. A sustained close above 1.2299 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2256 on H1 chart will check key supports too. USD /CAD 1.2251 1.2210 1.2178 1.2150 MAY, 2 021
  7. 7. BUY SELL R E P O R T F R O M : T P G LO B A L F X 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 109.48 R2 S2 109.65 R3 S3 109.82 R4 Commentary S4 110.22 Buy Above 109.50 109.68 109.11 – Take Profit – Stop Loss Trade Idea Sell Below 109.05 108.82 109.40 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/JPY: The Japanese yen moves in stiff boundaries on Thursday and stabilizes around 109.40 mark. The pair made intraday high at 109.42 and low at 109.14 mark. The triple EMA on a day chart and H1 chart confirm bullish trend for the time being. A sustained close above 109.48 on H1 chart requires for the upside rally. Alternatively, a consistent close below 109.10 on H1 will check further key supports. USD /JPY 108.93 108.65 108.40 108.22 MAY, 2 021
  8. 8. BUY SELL R E P O R T F R O M : T P G LO B A L F X 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 1794 R2 S2 1799 R3 S3 1805 R4 Commentary S4 1812 Buy Above 1799 1809 1787 – Take Profit – Stop Loss Trade Idea Sell Below 1782 1775 1794 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 XAU/USD (GOLD): Gold strengthens on sharply on Thursday and touches $1,793 mark. Today pair made intraday high at $1,793 and low $1,782 mark. A day chart as well as H1 chart is confirming bullish trend for the time being. A sustained close above $1,794 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,782 will check further supports. XAU [GOLD] USD / 1782 1776 1772 1768 MAY, 2 021
  9. 9. Thank you! Info@tpglobalfx.com www.tpglobalfx.com R E P O R T F R O M : T P G L O B A L F X /tpglobalfx /tpglobalfx /tpglobalfx /tpglobalfx 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 FSA, St. Vincent and the Grenadines with Number 25274 BC 2019 TP Global Services Limited does not offer its services to residents of certain jurisdictions such as USA, and British Columbia. Disclamer: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note

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