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Daily Analysis-Report-March-03-2021

Daily Analysis-Report-March-03-2021

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Daily Analysis-Report-March-03-2021

  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 03 March, 2021 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Japanese yen weakens no ceably as BOJ considers new monetary policy strategy to meet infla on target, Asian stock markets extremely up, gold hovers around $1,730 mark Key Headlines: • Australia AIG construc on index stands at 57.4 vs 57.6 previous release. • New Zealand building consents stands at 2.1 pct vs 5.1 pct previous release. • New Zealand ANZ commodity prices stand at 3.3 pct vs 4.3 pct previous release. • U.K. BRC Shop price index stands at -2.4 pct vs -2.2 pct previous release. • Australia GDP q/q stands at 3.1 pct vs 3.4 pct previous release (expected 2.5). • China Caixin services PMI stands at 51.5 vs 52.0 previous release (expected 51.6). • Hong Kong manufacturing PMI stands at 50.2 vs 47.8 previous release. • U.S. President Biden - The United States will have enough COVID-19 vaccine for every American adult by the end of May. • The listed shares of the Japanese and Swiss central banks rose sharply this week, without any apparent reason – Reuters. • BOJ Board Member Goushi Kataoka - The BOJ must lay out a new strategy for hi ng its elusive 2% infla on target at this month’s policy review. • BoJ Governor Haruhiko Kuroda - Will not lead to an overhaul of its s mulus program. • Oil dropped no ceably ahead of OPEC+ meet due tomorrow. • The U.S. Commerce Department on Tuesday issued final an -dumping du es on common alloy aluminum sheet from 18 countries inves gated – Reuters. • A majority of the U.S. Senate on Tuesday voted to confirm Cecilia Rouse as chair of the White House Council of Economic Advisers, the first Black economist to serve in the post – Reuters. • Biden's SEC chair nominee signals more regula on for cryptocurrencies – Reuters. • U.K. Finance minister Rishi Sunak – Will do “whatever it takes”, including a five-month extension of Britain’s huge jobs rescue plan, to steer the U.K.’s economy. Economic Data Ahead: • (0730 GMT/1300 IST) Swiss CPI, previous 0.1, expected 0.4. • (0815 GMT/1345 IST) Spain Services PMI, previous 41.7, expected 43.1. • (0845 GMT/1415 IST) Italy Services PMI, previous 44.7, expected 45.8. • (0850 GMT/1420 IST) France Services PMI, previous 43.6, expected 43.6. • (0855 GMT/1425 IST) German Services PMI, previous 45.9, expected 45.9. • (0900 GMT/1430 IST) Euro Services PMI, previous 44.7, expected 44.7. • (0930 GMT/1500 IST) U.K. Services PMI, previous 49.7, expected 49.7. • (1000 GMT/1530 IST) Euro PPI, previous 0.8, expected 1.3. • (1315 GMT/1845 IST) U.S. ADP job data, previous 174K, expected 203K. • (1330 GMT/1900 IST) Canada building permits, previous -4.1, expected 3.0. • (1445 GMT/2015 IST) U.S. Services PMI, previous 58.9, expected 58.9. • (1500 GMT/2030 IST) U.S. ISM Services PMI, previous 58.7, expected 58.7. Economic Events Ahead: • Tenta ve – U.K. Annual Budget Balance. • (1600 GMT/2130 IST) U.K. MPC member Tenreyro Speaks. • (1800 GMT/2330 IST) U.S. FOMC member Evans Speaks. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.02% to 90.80 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 Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 S1 0.7853 R2 S2 0.7903 R3 S3 0.7939 R4 Commentary S4 0.7975 Buy Above 0.78481 0.78888 0.77987 – Take Profit – Stop Loss Trade Idea Sell Below 0.77930 0.77493 0.78379 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 AUD/USD: The Aussie rises in early Asia on the back of higher than expected quarterly GDP data. The volatility was less as compare to the strong reading and parity consolidates around $0.7828 mark. A day chart and H1 chart with triple EMA suggests the bullish trend for the time being. A sustained close above $0.7853 on H1 chart requires for the upside rally. Alternatively, reversal from here will take the parity back below $0.7792 mark. 0.7792 0.7728 0.7694 0.7667
  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 1.2115 R3 S3 1.2167 R4 Commentary S4 1.2205 +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 EUR/USD: The euro moves in rigid boundaries on Wednesday and stabilizes around key resistance at $1.2092 mark. Today triple EMA on a day as well as H1 chart suggests the bullish trend only. A consistent close above $1.2115 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2065 on H1 will check further supports. From the fundamental point of view, services PMI data from Euro area will provide further direction to the parity. EUR / USD 1.2065 1.2001 1.1961 1.1938 Buy Above 1.21013 1.21281 1.20706 – Take Profit – Stop Loss Trade Idea Sell Below 1.20653 1.20354 1.20957 – Take Profit – Stop Loss Trade Idea Trends Up Trend Moving Average (Period=75) Above MA RSI (Period=26) Above 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 1.3974 R2 S2 1.3998 R3 S3 1.4038 R4 Commentary S4 1.4086 Buy Above 1.39892 1.40217 1.39451 – Take Profit – Stop Loss Trade Idea Sell Below 1.39266 1.38724 1.39875 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 GBP/USD: The sterling exhibits range bound movements and hovers around $1.3950 mark. The pair made intraday high at $1.3966 and low at $1.3943 mark. Technical tools in long and short run suggest the uptrend for the time being. A sustained close above $1.3974 on H1 chart requires for the upside rally. On the other hand, consistent close below $1.3928 will test further supports too. USD 1.3928 1.3858 1.3815 1.3787 GBP/ Trends Up Trend Moving Average (Period=75) Above MA RSI (Period=26) Above 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 Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 S1 1.2656 R2 S2 1.2692 R3 S3 1.2740 R4 Commentary S4 1.2776 Buy Above 1.26506 1.26783 1.26217 – Take Profit – Stop Loss Trade Idea Sell Below 1.26164 1.25781 1.26536 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/CAD: The Canadian dollar trades flat and stabilizes below 1.2650 mark. A day chart and H1 chart with triple EMA confirm the bearish trend. The expected range for the parity will be 1.2656 to 1.2610 mark. A sustained close of either side on H1 chart requires for the further trend confirmation. USD /CAD 1.2610 1.2584 1.2555 1.2518 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 107.004 107.211 106.709 – Take Profit – Stop Loss Trade Idea Sell Below 106.660 106.421 106.880 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/JPY: The Japanese yen continues to trade lower and hovers around key resistance at 106.92 mark. The pair made intraday high at 106.87 and low at 106.67 mark. The day as well as H1 chart with triple EMA suggests bullish trend for the time being. A sustained close above 106.97 on H1 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 Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 S1 1740 R2 S2 1748 R3 S3 1754 R4 Commentary S4 1762 Buy Above 1741.98 1750.15 1731.06 – Take Profit – Stop Loss Trade Idea Sell Below 1729.89 1723.58 1737.28 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 XAU/USD (GOLD): The gold trades marginally lower ahead of U.S. ADP job results due at 1315 GMT. Since early Asia, the pair is moving in stiff range from $1,741 to $1,730 mark. Indeed, both the boundaries itself suggest key hurdles to decide the further direction for the parity. A sustained close of either side on H1 chart will provide future path only. Currently, triple EMA on H1 and a day chart signals bearish trend for the time being. XAU [GOLD] USD / 1727 1722 1715 1708 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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