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04 March, 2021
Daily Analysis Report
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Asian Bulle n: Aussie remains slightly vola le in early Asia a er mixed economic data; Asian stock markets dras cally down; gold stabilizes above $1,710 mark
Key Headlines:
• Australia Retail sales stand at 0.5 pct vs 0.6 pct previous release (expected 0.6).
• Australia trade balance stands at 10.14B vs 7.13B previous release.
• South Korea FX reserves stands at 447.56B vs 442.73B previous release.
• South Korea CPI y/y stands at 1.1 pct vs 0.6 pct previous release (expected 1.0).
• South Korea GDP q/q stands at 1.2 pct vs 2.1 pct previous release.
• Oil prices posi ve ahead of OPEC+ mee ng due today.
• U.S. dollar appreciates against major peers ahead of Fed Chair Powell’s speech, likely to give insight view on bond market and currencies.
• German Chancellor Angela Merkel likely to come up with the plans to restore rou ne ac vi es a er 120 days of lockdown.
• Bitcoin recovers from previous losses and back above $50,000 mark.
Economic Data Ahead:
• (0930 GMT/1500 IST) U.K. Construc on PMI, previous 49.2, expected 51.1.
• (1000 GMT/1530 IST) Euro Retail Sales, previous 2.0, expected -1.4.
• (1000 GMT/1530 IST) Euro Unemployment Rate, previous 8.3, expected 8.3.
• (1230 GMT/1800 IST) U.S. Challenger Job cuts, previous 17.4.
• (1330 GMT/1900 IST) Canada labor produc vity, previous -10.3, expected -2.0.
• (1330 GMT/1900 IST) U.S. Revised Nonfarm produc vity, previous -4.8, expected -4.7.
• (1330 GMT/1900 IST) U.S. Revised unit labor costs, previous 6.8, expected 6.7.
• (1330 GMT/1900 IST) U.S. unemployment claims weekly, previous 730K, expected 758K.
• (1500 GMT/2030 IST) U.S. Factory orders, previous 1.1, expected 2.2.
Economic Events Ahead:
• (0900 GMT/1430 IST) ECB Economic Bulle n.
• (1705 GMT/2235 IST) U.S. Fed Chair Powell Speaks.
• All Day – OPEC-JMMC Mee ngs.
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 91.07 points.
3. AUD / USD
BUY SELL
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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
0.7838
R2 S2
0.7875
R3 S3
0.7903
R4
Commentary
S4
0.7939
Buy Above 0.78120
0.78444
0.77783
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.77695
0.77376
0.78008
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie failed to break key hurdle at $0.7838 mark and fell back below $0.7800
mark. A day chart still suggests bullish trend while H1 chart with triple EMA suggests the down
trend for the time being. A sustained close above $0.7838 on H1 chart requires for the upside
rally. Alternatively, current down side movement will take the parity back below $0.7750 mark.
0.7752
0.7728
0.7694
0.7667
4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.2092
R2 S2
1.2115
R3 S3
1.2167
R4
Commentary
S4
1.2205
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-
Time Frame: H1
EUR/USD: The euro exhibits range bound movement and stabilizes around $1.2050 mark. Today
triple EMA on a day as well as H1 chart confirm the bearish trend only. A consistent close above
$1.2073 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2046
on H1 will check further supports.
EUR / USD
1.2046
1.2001
1.1961
1.1938
Buy Above 1.20708
1.20995
1.20435
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.20323
1.20066
1.20627
– 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. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.3982
R2 S2
1.4010
R3 S3
1.4038
R4
Commentary
S4
1.4086
Buy Above 1.39683
1.40141
1.39169
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.39080
1.38732
1.39550
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The sterling moves in stiff boundaries on Thursday and hovers around $1.3950 mark.
The pair made intraday high at $1.3954 and low at $1.3920 mark. Triple EMA on a day chart
suggests up trend while in short run, some downside pressure is likely. A sustained close above
$1.3982 on H1 chart requires for the upside rally. On the other hand, consistent close below
$1.3920 will test further supports too.
USD
1.3920
1.3858
1.3815
1.3787
GBP/
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
MARCH,
2
021
6. 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
1.2674
R2 S2
1.2692
R3 S3
1.2740
R4
Commentary
S4
1.2776
Buy Above 1.26907
1.27183
1.26617
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.26373
1.26053
1.26745
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The Canadian dollar trades marginally lower on Thursday and stabilizes above 1.2650
mark. A day chart with triple EMA confirms the bearish trend; while in short run, pair is likely to
give some upside correction. The expected range for the parity will be 1.2692 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. 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
107.22
R2 S2
107.54
R3 S3
107.98
R4
Commentary
S4
108.15
Buy Above 107.204
107.397
106.992
– Take Profit
– Stop Loss
Trade Idea
Sell Below 106.823
106.584
107.085
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY: The Japanese yen trades almost flat on Thursday and hovers around 107.00 mark. The
triple EMA on a day and H1 chart suggest the bullish trend for the time being. The pair made
intraday high at 107.10 and low at 106.95 mark. A sustained close above 107.07 on H1 requires
for the upside rally. Alternatively, a consistent close below 106.80 will check key supports.
USD /JPY
106.80
106.53
105.70
105.22
MARCH,
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
1722
R2 S2
1727
R3 S3
1732
R4
Commentary
S4
1740
Buy Above 1719.25
1729.57
1706.05
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1704.74
1693.50
1718.00
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): The gold spiked down sharply in previous session despite ADP job results
disappointed the traders. The pair touched $1,701 mark in late U.S. session and today pair
manages to recover slightly and stabilizes above $1,710 mark. A day as well as H1 chart still
confirms the bearish trend for the time being. The pair made intraday high at $1,716 and low at
$1,706 mark. The expected range for the parity will be $1,722 to $1,708 mark. A sustained close
of either side on H1 chart requires to confirm further directions of the parity.
XAU [GOLD]
USD
/
1698
1692
1685
1677
MARCH,
2
021
9. Thank
you!
Info@tpglobalfx.com
www.tpglobalfx.com
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