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Daily Analysis-Report-March-02-2021

Daily Analysis-Report-March-02-2021

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Daily Analysis-Report-March-02-2021

  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 02 March, 2021 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Aussie rises immediately a er RBA’s Monetary Policy Statement, Asian stock markets mixed, gold touches $1,707 mark in early Asia Key Headlines: • RBA keeps Official Cash Rate unchanged at 0.10 pct. • Australia building approvals stands at -19.4 pct vs 12.0 pct previous release. • Australia current account stands at 14.5B vs 10.7B previous (expected 13.0B). • RBA keeps policy unchanged for the yield on the 3 - year Australian Government bond. • RBA - The outlook for the global economy has improved over recent months due to the ongoing rollout of vaccines. • RBA - The recovery remains dependent on the health situa on and on significant fiscal and monetary support. • RBA - Infla on remains low and below central bank targets. • RBA - The Australian dollar remains in the upper end of the range of recent years. • RBA – The economic recovery has been stronger than was earlier expected and expec ng to con nue further. • RBA - GDP to grow by 3½ per cent over both 2021 and 2022. • RBA - The unemployment rate will s ll be around 6 per cent at the end of this year 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 Bank remains commi ed to the 3 - year yield target and recently purchased bonds to support the target and will con nue to do so as necessary. • RBA - A further $100 billion will be purchased following the comple on of the ini al program and the Bank is prepared to do more if that is necessary. • RBA - The Board remains commi ed to maintaining highly suppor ve monetary condi ons un l its goals are achieved. • 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. • New Zealand overseas trade index stands at 1.3 pct vs -4.7 pct previous release. • Japan unemployment rate remains unchanged at 2.9 pct. • Japan capital spending stands at -4.8 pct vs -10.6 pct previous release. Economic Data Ahead: • (0700 GMT/1230 IST) German retail sales, previous -9.6, expected 0.2. • (0700 GMT/1230 IST) U.K. na onwide HPI, previous -0.3, expected -0.3. • (0800 GMT/1330 IST) Spain unemployment change, previous 76.2K, expected 10.5K. • (0855 GMT/1425 IST) German unemployment change, previous -41K, expected -9K. • (1000 GMT/1530 IST) Euro CPI flash es mate, previous 0.9, expected 0.9. • (1000 GMT/1530 IST) Euro Core CPI flash es mate, previous 1.4, expected 1.1. • (1330 GMT/1900 IST) Canada GDP, previous 0.7, expected 0.1. Economic Events Ahead: • (1800 GMT/2330 IST) U.S. FOMC Member Brainard Speaks. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.14% to 91.17 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 MARCH, 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 0.7785 R2 S2 0.7799 R3 S3 0.7820 R4 Commentary S4 0.7866 Buy Above 0.77885 0.78292 0.77391 – Take Profit – Stop Loss Trade Idea Sell Below 0.77241 0.76951 0.77607 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 AUD/USD: The Aussie strengthens sharply as RBA stands pat. A day chart with triple EMA suggests the bullish trend in long run but H1 chart has confirmed bearish trend in short run. A sustained close above $0.7785 on H1 chart requires for the upside rally. Alternatively, current downside movement will take the parity back below $0.7692 mark. 0.7692 0.7676 0.7622 0.7599
  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 1.2092 R2 S2 1.2122 R3 S3 1.2167 R4 Commentary S4 1.2205 +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 EUR/USD: The euro weakens sharply on Tuesday and breaks key support at $1.2020 mark. A day chart with triple EMA is about to give successful crossover which signifies bearish trend. On the other side, triple EMA on H1 chart has already confirmed the down trend only. The expected range for the parity will be $1.1961 to $1.2092 mark. A sustained close of either side on H1 chart requires to forecast the future path of the parity. EUR / USD 1.2001 1.1961 1.1938 1.1897 Buy Above 1.20603 1.20871 1.20296 – Take Profit – Stop Loss Trade Idea Sell Below 1.20100 1.19886 1.20408 – Take Profit – Stop Loss Trade Idea Trends Down Trend Moving Average (Period=75) Below MA RSI (Period=26) Below RSI LEVEL 50 MARCH, 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 1.3954 R2 S2 1.3998 R3 S3 1.4038 R4 Commentary S4 1.4086 Buy Above 1.39468 1.39834 1.39011 – Take Profit – Stop Loss Trade Idea Sell Below 1.38694 1.38152 1.39303 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 GBP/USD: The sterling falls sharply on Tuesday and slips below $1.39 mark. The pair made intraday high at $1.3932 and low at $1.3866 mark. The H1 chart with triple EMA confirms bearish trend while a day chart suggests the bullish trend in long run. A sustained close above $1.3954 on H1 chart requires for the upside rally. On the other hand, consistent close below $1.3815 will test further supports too. USD 1.3856 1.3815 1.3787 1.3750 GBP/ Trends Down Trend Moving Average (Period=75) Below MA RSI (Period=26) Below RSI LEVEL 50 MARCH, 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 Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 S1 1.2740 R2 S2 1.2768 R3 S3 1.2800 R4 Commentary S4 1.2845 Buy Above 1.26974 1.27392 1.26504 – Take Profit – Stop Loss Trade Idea Sell Below 1.26339 1.25956 1.26839 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/CAD: The Canadian dollar exhibits range bound movement and hovers around immediate resistance at 1.2684 mark. A day chart with triple EMA still suggests the bearish trend while H1 chart for the short run confirms the uptrend. The expected range for the parity will be 1.2740 to 1.2640 mark. A sustained close of either side on H1 chart requires for the further trend confirmation. Later today, Canada has scheduled to release GDP data. The outcome of it will provide future direction of the parity. USD /CAD 1.2640 1.2610 1.2584 1.2525 MARCH, 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 106.92 R2 S2 107.22 R3 S3 107.54 R4 Commentary S4 107.98 Buy Above 106.997 107.204 106.702 – Take Profit – Stop Loss Trade Idea Sell Below 106.651 106.436 106.970 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/JPY: The Japanese yen falls noticeably as capital spending data misses expectations. The pair made intraday high at 106.92 and low at 106.66 mark. The day as well as H1 chart with triple EMA suggests bullish trend for the time being. A sustained close above 106.92 on H1 chart requires for the upside rally. Alternatively, reversal from here will drag the parity down below 106.50 mark. USD /JPY 106.53 105.70 105.22 104.92 MARCH, 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 Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 S1 1727 R2 S2 1732 R3 S3 1740 R4 Commentary S4 1748 Buy Above 1721.16 1726.70 1712.91 – Take Profit – Stop Loss Trade Idea Sell Below 1707.07 1700.76 1714.45 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 XAU/USD (GOLD): The gold depreciates sharply on strong U.S. dollar and touches $1,707 mark in opening hours. The pair made intraday high at $1,728 mark and low at $1,707 mark. A day chart as well as H1 confirms the bearish trend for the time being. A sustained close above $1,727 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,711 on H1 will check further supports too. Today’s U.S. session is almost empty and as experienced earlier, in the absence of key fundamentals, gold may have extreme volatility during U.S. session. XAU [GOLD] USD / 1708 1697 1692 1685 MARCH, 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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