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Daily Analysis Report April 07, 2021

Daily Analysis Report April 07, 2021

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Daily Analysis Report April 07, 2021

  1. 1. Daily Analysis Report +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 April, 2021
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Euro strengthens sharply ahead of Services PMI Results, Asian stock markets mixed, gold stabilizes around $1,740 mark Key Headlines: • Australia AIG construc on index stands at 61.8 vs 57.4 previous release. • Australia Services PMI stands at 55.5 vs 53.4 previous release (expected 56.2). • New Zealand ANZ commodity prices stand at 6.1 vs 3.3 previous release. • South Korea current account stands at 8.03B vs 7.06B previous release. Economic Data Ahead: • (0800 GMT/1330 IST) Euro final Services PMI, previous 48.8, expected 48.8. • (0830 GMT/1400 IST) U.K. final Services PMI, previous 56.8, expected 56.8. • (1230 GMT/1800 IST) Canada trade balance, previous 1.4B, expected 1.3B. • (1230 GMT/1800 IST) U.S. trade balance, previous -68.2B, expected -70.2B. • (1400 GMT/1930 IST) Canada Ivey PMI, previous 60.0, expected 62.0. Economic Events Ahead: • (1300 GMT/1830 IST) U.S. FOMC member Evans Speaks. • (1800 GMT/2330 IST) U.S. FOMC Mee ng Minutes. • All Day – IMF Mee ng. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched lower 0.01% to 92.33 points.
  3. 3. AUD /USD R E P O R T F R O M : T P G LO B A L F X 2 0 21 Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 0.7672 S1 0.7590 Buy Above 0.7672 0.7690 0.7640 0.7630 0.7600 0.7662 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.7690 S2 0.7570 R3 0.7722 S3 0.7520 R4 0.7740 S4 0.7488 Conclusion +1 7754 366 970 analysis@tpglobalfx.com Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 APRIL, Commentary AUD/USD: The Aussie remained highly volatile in previous session after RBA’s Cash Rate Decision. Pair failed to fall below $0.76 mark and currently stabilizes above $0.7650 mark. Today triple EMA with day chart is bearish in long run while H1 chart confirms up trend for the time being. A sustained close above $0.7672 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7590 will check further supports.
  4. 4. EUR / USD R E P O R T F R O M : T P G LO B A L F X Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT +1 7754 366 970 analysis@tpglobalfx.com Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 R1 1.1890 S1 1.1830 Buy Above 1.1890 1.1922 1.1850 1.1830 1.1790 1.1870 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.1922 S2 1.1782 R3 1.1962 S3 1.1750 R4 1.2004 S4 1.1690 Conclusion Commentary EUR/USD: The euro exhibits range bound movement and consolidates around $1.1870 mark. The pair made intraday high at $1.1878 and low at $1.1865. Today triple EMA on a day chart suggest bearish trend while H1 chart signal slightly up trend for the time being. A consistent close above $1.1890 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.1830 on H1 will check further supports. 2 0 21 APRIL,
  5. 5. GBP /USD R E P O R T F R O M : T P G LO B A L F X Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT +1 7754 366 970 analysis@tpglobalfx.com Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 R1 1.3870 S1 1.3790 Buy Above 1.3870 1.3900 1.3840 1.3800 1.3776 1.3840 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.3922 S2 1.3776 R3 1.3954 S3 1.3740 R4 1.3976 S4 1.3706 Conclusion Commentary GBP/USD: The pound weakens extremely against U.S. dollar in previous session and currently stabilizes below $1.3850 mark. The pair made intraday high at $1.3839 and low at $1.3813 mark. A day chart is slightly bullish while H1 chart with triple EMA confirm bearish trend for the time being. A sustained close above $1.3870 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1.3790 will check key supports too. 2 0 21 APRIL,
  6. 6. USD /CAD R E P O R T F R O M : T P G LO B A L F X Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT +1 7754 366 970 analysis@tpglobalfx.com Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 R1 1.2593 S1 1.2560 Buy Above 1.2593 1.2610 1.2560 1.2539 1.2500 1.2593 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.2610 S2 1.2539 R3 1.2640 S3 1.2500 R4 1.2667 S4 1.2468 Conclusion Commentary USD/CAD: The Canadian dollar trades marginally lower on Wednesday and hovers around key resistance at 1.2593 mark. A day chart confirms bearish trend in long run while H1 chart signals up trend for the time being. A sustained close above 1.2593 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2560 will check key supports too. Trends Up Trend 2 0 21 APRIL,
  7. 7. USD /JPY R E P O R T F R O M : T P G LO B A L F X Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT +1 7754 366 970 analysis@tpglobalfx.com Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 R1 110.22 S1 109.57 Buy Above 110.00 110.22 109.68 109.57 109.24 109.90 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 110.70 S2 109.00 R3 111.96 S3 108.62 R4 111.44 S4 108.40 Conclusion Commentary USD/JPY: The Japanese yen reverses previous loss against U.S. dollar and slips back below 110.00 mark. The pair made intraday high at 109.89 and low at 109.57 mark. The triple EMA on a day chart confirms up trend and H1 chart confirm bearish trend for the time being. A sustained close above 109.90 on H1 chart requires for the upside rally. Alternatively, a consistent close below 109.50 on H1 will check key supports. 2 0 21 APRIL,
  8. 8. XAU /USD R E P O R T F R O M : T P G LO B A L F X Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT +1 7754 366 970 analysis@tpglobalfx.com Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 R1 1748 S1 1732 Buy Above 1745 1752 1730 1728 1721 1740 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1754 S2 1728 R3 1762 S3 1722 R4 1768 S4 1715 Conclusion Commentary XAU/USD (GOLD): The gold enjoys roller coaster movement and hovers around $1,740 mark. Pair made intraday high at $1,744 and low $1,735 mark. A day chart with triple EMA confirms bearish trend while H1 chart with triple EMA confirms up trend for the time being. A sustained close above $1,745 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,732 will check further supports. Later today U.S. will release trade balance and FOMC meeting minutes result. It will provide further directions to the parity. 2 0 21 APRIL,
  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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