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29 April, 2021
Daily Analysis Report
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Asian Bulle n: U.S. dollar weakens sharply against major peers a er dovish FOMC meet; most Asian stock markets in green; gold stabilizes above $1,780 mark
Key Headlines:
• U.S. Federal Reserve kept key interest rate unchanged to 0.25 pct.
• U.S. dollar depreciated sharply against major peers immediately a er FOMC Press Conference.
• U.S. Fed Chair Powell reiterated that economic ac vity and employment strengthened due to progress on vaccina on.
• Fed Chair Powell did not give any hint on tapering.
• Powell emphasized that the increase in infla on is transitory because there’s s ll significant slack in the labor market.
• Biden - The U.S. will fight unequal trading policies such as state-owned enterprise subsidies and piracy of us technology and IP.
• Biden will also press for ac on on police reform, immigra on and infrastructure before a reduced-capacity crowd in the House chamber.
• Biden – We are up against China in a compe on.
• New Zealand trade balance stands at 33M vs 201M previous release.
• New Zealand Final ANZ business confidence stands at -2.0 pct vs -8.4 pct previous release.
• Australia import prices q/q stands at 0.2 pct vs -1.0 pct previous release (expected -1.5).
• Japanese banks will be closed in observance of Showa Day.
• South Korea Manufacturing BSI index stands at 95 vs 91 previous release.
Economic Data Ahead:
• (0700 GMT/1230 IST) Spain flash CPI, previous 1.3, expected 1.9.
• (0700 GMT/1230 IST) Spain unemployment rate, previous 16.1, expected 16.5.
• (0755 GMT/1325 IST) German unemployment change, previous -8K, expected -10K.
• (0800 GMT/1330 IST) Euro M3 money supply, previous 12.3, expected 10.2.
• (0800 GMT/1330 IST) Euro private loans, previous 3.0, expected 3.2.
• (1230 GMT/1800 IST) U.S. Advance GDP q/q, previous 4.3, expected 6.8.
• (1230 GMT/1800 IST) U.S. Advance GDP Price Index q/q, previous 2.0, expected 2.6.
• (1230 GMT/1800 IST) U.S. unemployment claims weekly, previous 547K, expected 545K.
• (1400 GMT/1930 IST) U.S. Pending home sales, previous -10.6, expected 4.2.
Economic Events Ahead:
• No key events scheduled for the day.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.19% to 90.43 points.
3. AUD / USD
BUY SELL
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APRIL,
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
0.7815
R2 S2
0.7838
R3 S3
0.7867
R4
Commentary
S4
0.7902
Buy Above 0.7820
0.7838
0.7785
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.7770
0.7740
0.7815
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
AUD/USD: The Aussie rises gradually on Thursday and hits highest level since March 18, 2021.
The pair made intraday high at $0.7817 and low at $0.7781 mark. A day chart and H1 chart with
triple EMA confirms up trend for the time being. A sustained close above $0.7815 on H1 chart
requires for the upside rally. Alternatively, a consistent close below $0.7770 will check further
supports.
0.7770
0.7742
0.7702
0.7677
4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.2150
R2 S2
1.2170
R3 S3
1.2192
R4
Commentary
S4
1.2227
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-
Time Frame: H1
EUR/USD: The euro appreciates sharply against U.S. dollar and hits highest level since Feb 26,
2021. Today pair made intraday high at $1.2150 and low at $1.2120. Today triple EMA on a day
chart and H1 chart confirm bullish trend for the time being. A consistent close above $1.2150 on
H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2080 on H1 will
check further supports.
EUR / USD
1.2080
1.2062
1.2048
1.2001
Buy Above 1.2150
1.2178
1.2118
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2115
1.2080
1.2150
– Take Profit
– Stop Loss
Trade Idea
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50
APRIL,
2
021
5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.3969
R2 S2
1.3992
R3 S3
1.4008
R4
Commentary
S4
1.4041
Buy Above 1.3980
1.4008
1.3940
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.3920
1.3892
1.3965
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The pound continues to trade higher against U.S. dollar and stabilizes around $1.3950
mark. The pair made intraday high at $1.3976 and low at $1.3925 mark. Today a day chart as well
as H1 chart with triple EMA confirms bullish trend for the time being. A sustained close above
$1.3969 requires for the upside rally. Alternatively, a consistent close below $1.3910 will check
further key supports.
USD
1.3910
1.3858
1.3822
1.3787
GBP/
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50
APRIL,
2
021
6. 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
1.2343
R2 S2
1.2371
R3 S3
1.2392
R4
Commentary
S4
1.2416
Buy Above 1.2350
1.2376
1.2310
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2285
1.2265
1.2328
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The Canadian dollar strengthens sharply on Thursday and slips below 1.23 mark in
early Asian hours. Today pair made intraday high at 1.2320 and low at 1.2287 mark. The CAD hits
highest level since Feb 2018. A day chart and H1 chart with Triple EMA confirm bearish trend for
the time being. A sustained close above 1.2343 on H1 chart requires for the upside rally.
Alternatively, a consistent close below 1.2289 on H1 chart will check key supports too.
USD /CAD
1.2289
1.2265
1.2242
1.2210
APRIL,
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
108.72
R2 S2
109.11
R3 S3
109.40
R4
Commentary
S4
109.71
Buy Above 108.72
108.95
108.40
– Take Profit
– Stop Loss
Trade Idea
Sell Below 108.25
108.01
108.60
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY: The Japanese yen trades marginally higher on Thursday and hovers around 108.50
mark. The pair made intraday high at 108.63 and low at 108.43 mark. The triple EMA on a day
chart is up while H1 chart is likely to give crossover on triple EMA, which may lead to bearish
trend. A sustained close above 108.65 on H1 chart requires for the upside rally. Alternatively, a
consistent close below 108.40 on H1 will check key supports.
USD /JPY
108.40
108.22
107.87
107.51
APRIL,
2
021
8. 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
1790
R2 S2
1797
R3 S3
1805
R4
Commentary
S4
1812
Buy Above 1790
1796
1778
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1776
1770
1785
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold spiked up sharply in previous session after dovish FOMC meet. Today
pair made intraday high at $1,790 and low $1,781 mark. A day chart and H1 Chart with Triple EMA
is showing up trend for the time being. A sustained close above $1,789 on H1 chart requires for
the upside rally. Alternatively, a consistent close below $1,765 will check further supports. Later
today, U.S. will release Advance GDP q/q data; it will provide further directions to the parity.
XAU [GOLD]
USD
/
1778
1772
1768
1762
APRIL,
2
021
9. Thank
you!
Info@tpglobalfx.com
www.tpglobalfx.com
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