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DAILY ANALYSIS REPORT MAY 07 2021

DAILY ANALYSIS REPORT MAY 07 2021

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DAILY ANALYSIS REPORT MAY 07 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 07 May , 2021 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: U.S. dollar weakens sharply against major peers as U.S. came up with the lower than expected key economic indicators, Asian stock markets mixed, European stocks open up in green, markets eye U.S. NFP Job Data; Gold up Key Headlines: • Australia AIG Services index stands at 61.0 vs 58.7 previous release. • Japan average cash earnings stands at 0.2 pct vs -0.4 pct previous release (expected -0.2). • China Caixin Services PMI stands at 56.3 vs 54.3 previous release. • China trade balance stands at 42.86B vs 13.80B previous release. • New Zealand Infla on expecta on q/q stands at 2.05 pct vs 1.89 pct previous release. • South Korea current account stands at 7.82B vs 7.94B previous release. • Australia’s Trade Minister - The Country’s interna onal borders may not completely open un l the second half of 2022. • Fed's Kaplan - The unemployment rate in the U.S. could fall below 4% this year. • Fed's Kaplan - My belief is that U.S. GDP would rise 6.5% this year, with the danger being to the upside. • Kaplan - Expects infla on to end this year at 2.25%; will watch very carefully. • Fed's Kaplan - I would like to start more about tapering earlier rather than later. • Federal Reserve - Asset prices may be vulnerable if risk appe te falls. Economic Data Ahead: • (0800 GMT/1330 IST) Italy Retail Sales, previous 6.6, expected -0.6. • (0830 GMT/1400 IST) U.K. Construc on PMI, previous 61.7, expected 62.0. • (1230 GMT/1800 IST) Canada employment change, previous 303.1K, expected -160.5K. • (1230 GMT/1800 IST) Canada unemployment rate, previous 7.5, expected 7.8. • (1230 GMT/1800 IST) U.S. NFP employment change, previous 916K, expected 990K. • (1230 GMT/1800 IST) U.S. unemployment rate, previous 6.0, expected 5.8. Economic Events Ahead: • (1000 GMT/1530 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 down 0.09% to 90.87 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 0.7790 R2 S2 0.7812 R3 S3 0.7854 R4 Commentary S4 0.7900 Buy Above 0.7792 0.7815 0.7770 – Take Profit – Stop Loss Trade Idea Sell Below 0.7765 0.7740 0.7794 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 AUD/USD: The Aussie trades marginally lower after RBA’s Monetary Policy Statement released in early Asian hours. The pair made intraday high at $0.7791 and low at $0.7773 mark. A day chart and H1 chart confirm up trend for the time being. A sustained close above $0.7790 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7770 will check further supports. 0.7770 0.7740 0.7702 0.7677
  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 1.2074 R2 S2 1.2098 R3 S3 1.2122 R4 Commentary S4 1.2150 +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 EUR/USD: The euro moves in stiff boundaries on Friday and hovers around $1.2050 mark. Today pair made intraday high at $1.2069 and low at $1.2056. Today triple EMA on a day and H1 chart is confirming Up Trend. A consistent close above $1.2074 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2040 on H1 will check further supports. EUR / USD 1.2040 1.2001 1.1976 1.1948 Buy Above 1.2075 1.2104 1.2060 – Take Profit – Stop Loss Trade Idea Sell Below 1.2050 1.2022 1.2068 – Take Profit – Stop Loss Trade Idea Trends Up Trend Moving Average (Period=75) Above MA RSI (Period=26) Above 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 1.3921 1.3948 1.3885 – Take Profit – Stop Loss Trade Idea Sell Below 1.3870 1.3840 1.3910 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 GBP/USD: The pound remained highly volatile in previous session after BOE’s Interest Rate Decision and currently pair stabilizes above $1.3900 mark. The pair made intraday high at $1.3912 and low at $1.3879 mark. Today a day chart and H1 chart with triple EMA confirm bullish trend for the time being. A sustained close above $1.3917 requires for the upside rally. Alternatively, a consistent close below $1.3878 will check further key supports. USD 1.3878 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 1.2193 R2 S2 1.2218 R3 S3 1.2247 R4 Commentary S4 1.2281 Buy Above 1.2193 1.2222 1.2170 – Take Profit – Stop Loss Trade Idea Sell Below 1.2147 1.2115 1.2186 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/CAD: The Canadian dollar erases previous gain against U.S. dollar and hovers around 1.2170 mark. In previous session, pair hits lowest level since Sept 2017. Today pair made intraday high at 1.2178 and low at 1.2142 mark. A day chart and H1 chart with Triple EMA confirm bearish trend for the time being. A sustained close above 1.2193 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2146 on H1 chart will check key supports too. USD /CAD 1.2142 1.2104 1.2074 1.2038 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 Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 S1 109.20 R2 S2 109.48 R3 S3 109.65 R4 Commentary S4 109.82 Buy Above 109.20 109.50 109.00 – Take Profit – Stop Loss Trade Idea Sell Below 108.92 108.70 109.14 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/JPY: The Japanese yen trades flat on Friday and stabilizes around 109.10 mark. The pair made intraday high at 109.18 and low at 108.93 mark. The triple EMA on a day chart is bullish while H1 chart confirms bearish trend for the time being. A sustained close above 109.20 on H1 chart requires for the upside rally. Alternatively, a consistent close below 109.00 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 1822 R2 S2 1827 R3 S3 1834 R4 Commentary S4 1840 Buy Above 1822 1827 1815 – Take Profit – Stop Loss Trade Idea Sell Below 1809 1802 1815 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 XAU/USD (GOLD): Gold spiked up sharply in previous session as U.S. released economic data with mixed numbers and comments from FOMC members on current economic scenario. Today pair made intraday high at $1,822 and low $1,812 mark. It is the highest level since Feb 16, 2021. A day chart as well as H1 chart is confirming bullish trend for the time being. A sustained close above $1,820 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,810 will check further supports. The key event for the day will be U.S. NFP Job results. XAU [GOLD] USD / 1807 1802 1794 1787 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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