Daily Analysis Report March 17, 2021

+1 7754 366 970
analysis@tpglobalfx.com
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17 March, 2021
Daily Analysis Report

+1 7754 366 970
Asian Bulle n: Aussie weakens a er RBA Assist Gov Kent’s comments, Asian stock markets in red, Markets eye U.S. FOMC Interest Rate Decision, gold slightly up
Key Headlines:
• New Zealand current account stands at -2.70B vs -3.62B previous release (expected -2.85B).
• Australia MI leading index stands at 0.0 pct vs -0.1 pct previous release.
• Japan trade balance stands at -0.04T vs 0.55T previous release (expected -0.10T).
• South Korea unemployment stands at 4.0 pct vs 5.4 pct previous release (expected 4.8).
• Singapore trade balance stands at 4.980B vs 5.610B previous release.
• RBA’s Kent - Nega ve rates not under considera on in Australia.
• U.S. Homeland Security Secretary - The number of a empted border crossings by people from Central America and Mexico has steadily increased since April
2020.
• United States Secretary of State Antony Blinken - China is ac ng aggressively and repressively.
• Former President Donald Trump - He would decide whether to make another run for the White House a er congressional elec ons in November 2022.
• Oil prices lowered for a fourth day on Wednesday on worries about unsteady demand in Europe.
• U.S. Treasury Secretary Janet Yellen - South Korean counterpart Namki Hong was ready to deepen economic and ﬁnancial coopera on between the long me
allies.
Economic Data Ahead:
• (1000 GMT/1530 IST) Euro Final CPI, previous 0.9, expected 0.9.
• (1000 GMT/1530 IST) Euro Final Core CPI, previous 1.1, expected 1.1.
• (1230 GMT/1800 IST) Canada CPI, previous 0.6, expected 0.7.
• (1230 GMT/1800 IST) Canada Core CPI, previous 0.5.
• (1230 GMT/1800 IST) U.S. Building permits, previous 1.88M, expected 1.74M.
• (1230 GMT/1800 IST) U.S. Housing starts, previous 1.58M, expected 1.56M.
• (1800 GMT/2330 IST) U.S. FOMC Interest Rate Decision, previous 0.25, expected 0.25.
Economic Events Ahead:
• (1830 GMT/0000 IST) U.S. FOMC Press Conference.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.06% to 91.92 points.

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
0.7750
R2 S2
0.7772
R3 S3
0.7790
R4
Commentary
S4
0.7822
Buy Above 0.77614
0.77887
0.77314
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.77169
0.76885
0.77454
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
-
Time Frame: H1
AUD/USD: The Aussie falls gradually against U.S. dollar and stabilizes below $0.7750 mark. A
day chart still suggests up trend in long run while H1 chart suggests visible down trend for the
time being. A sustained close above $0.7750 on H1 chart requires for the upside rally.
Alternatively, a consistent close below $0.7721 will check further supports.
0.7721
0.7700
0.7677
0.7625

BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.1913
R2 S2
1.1938
R3 S3
1.1962
R4
Commentary
S4
1.2002
+1 7754 366 970
-
Time Frame: H1
EUR/USD: The euro trades almost ﬂat on Wednesday and hovers around $1.19 mark. Today
triple EMA on a day and H1 conﬁrm the down trend for the time being. A consistent close above
$1.1913 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.1885
on H1 will check further supports.
EUR / USD
1.1885
1.1838
1.1802
1.7777
Buy Above 1.19222
1.19526
1.18949
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.18823
1.18620
1.19067
– Take Profit
– Stop Loss
Trade Idea
Trends Down Trend
MARCH,
2
021

BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.3922
R2 S2
1.3960
R3 S3
1.4004
R4
Commentary
S4
1.4032
Buy Above 1.39084
1.39405
1.38742
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.38631
1.38335
1.38911
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
-
Time Frame: H1
GBP/USD: The pound trades in rigid boundaries on Wednesday and consolidates around $1.39
mark. The pair made intraday high at $1.3905 and low at $1.3878 mark. Triple EMA on a day
chart is bullish but H1 chart suggests sideways movement for the time being. A sustained close
above $1.3902 on H1 chart requires for the upside rally. On the other hand, consistent close
below $1.3885 on H1 will test further supports too.
USD
1.3885
1.3862
1.3816
1.3750
GBP/
Trends Down Trend
MARCH,
2
021

BUY SELL
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Technical Summary
Trends Down Trend
H 1
FIBO Levels PIVOT
R1 S1
1.2470
R2 S2
1.2496
R3 S3
1.2555
R4
Commentary
S4
1.2578
Buy Above 1.24764
1.25132
1.24324
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.24325
1.23966
1.24705
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
-
Time Frame: H1
USD/CAD: The Canadian dollar strengthens sharply in Asian hours and touches 1.2433 mark. It is
the highest level since Feb 2018. A day and H1 chart with triple EMA conﬁrms the bearish trend
for the time being. A sustained close above 1.2470 on H1 chart requires for the upside rally.
Alternatively, a consistent close below 1.2441 will check key supports too.
USD /CAD
1.2432
1.2400
1.2378
1.2358
MARCH,
2
021

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
109.28
R2 S2
109.56
R3 S3
109.82
R4
Commentary
S4
110.22
Buy Above 109.258
109.513
108.983
– Take Profit
– Stop Loss
Trade Idea
Sell Below 108.901
108.548
109.239
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
-
Time Frame: H1
USD/JPY: The Japanese yen trades marginally lower on Wednesday and consolidates around
109.00 mark. The pair made intraday high at 109.16 and low at 108.96 mark. The triple EMA on a
day and H1 chart suggest the bullish trend for the time being. A sustained close above 109.28 on
H1 chart requires for the upside rally. Alternatively, a consistent close below 108.83 on H1 will
check key supports.
USD /JPY
108.70
108.36
108.00
107.58
MARCH,
2
021

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
1740
R2 S2
1748
R3 S3
1754
R4
Commentary
S4
1762
Buy Above 1738.73
1744.83
1732.56
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1729.70
1723.31
1736.50
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
-
Time Frame: H1
XAU/USD (GOLD): The gold trades slightly up on Wednesday ahead of U.S. FOMC Interest Rate
Decision. Today pair made intraday high at $1,737 and low at $1,729 mark. A day chart with triple
EMA conﬁrms the down trend while H1 conﬁrms bullish trend for the time being. A sustained close
above $1,740 on H1 chart requires for the upside rally. Alternatively, a consistent close below
$1,728 on H1 will test further supports too.
XAU [GOLD]
USD
/
1728
1722
1715
1708
MARCH,
2
021

Thank
you!
Info@tpglobalfx.com
www.tpglobalfx.com
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Daily Analysis Report March 17, 2021

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Daily Analysis Report March 17, 2021