Daily Analysis Report February 16, 2021

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16 February, 2021
Daily Analysis Report

2. +1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Aussie rises immediately a er RBA’s Monetary Policy Mee ng Minutes, Asian stock markets extremely up, gold stabilizes above $1,820 mark
Key Headlines:
• New Zealand visitor arrivals stand at 15.4 pct vs 0.8 pct previous release.
• South Korea export price index stands at -2.3 pct vs -4.7 pct previous release.
• South Korea import price index stands at -6.7 pct vs -9.9 pct previous release.
• Australia HIA new home sales stand at -69.4 pct vs 91.8 previous release.
• BOJ Kuroda - ETF buying is part of monetary easing program.
• BOJ Kuroda - Stock market reflects outlook for corporate profits.
• BOJ Kuroda - We won’t know un l later whether recent stock rises are excessive.
• BOJ Kuroda - Premature to debate exit from massive s mulus programme including BOJ's ETF buying.
• BOJ Kuroda - BOJ will con nue current monetary policy to support economy.
• South Korea PM - South Korea has arranged to buy coronavirus vaccines for 23 million more people; The deals include Novavax vaccines for 20 million people
and Pfizer products for 3 million.
• RBA Minutes - "Very Significant" monetary support to be needed for some me.
• RBA Minutes - Will not raise cash rate un l infla on sustainably in 2-3% target band.
• RBA Minutes - Does not expect to reach targets for unemployment, infla on un l 2024 at the earliest.
• The RBA also doubled the amount of government bonds it intended to buy to A$200 billion and extended the plan to October.
Economic Data Ahead:
• (0900 GMT/1430 IST) Italy trade balance, previous 6.77B, expected 6.25B.
• (1000 GMT/1530 IST) Euro flash employment change, previous 1.0, expected 0.9.
• (1000 GMT/1530 IST) Euro flash GDP, previous -0.7, expected -0.7.
• (1000 GMT/1530 IST) Euro ZEW economic sen ment, previous 58.3, expected 59.2.
• (1000 GMT/1530 IST) Euro German ZEW economic sen ment, previous 61.8, expected 59.7.
• (1330 GMT/1900 IST) U.S. empire state manufacturing index, previous 3.5, expected 6.2.
Economic Events Ahead:
• All day – ECOFIN Mee ngs.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.25% to 90.26 points.

3. AUD / USD
BUY SELL
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FEBRUARY,
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
0.7820
R2 S2
0.7878
R3 S3
0.7940
R4
Commentary
S4
0.7967
Buy Above 0.78123
0.78339
0.77931
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.77743
0.77487
0.78021
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie strengthens remarkably against U.S. dollar after hawkish RBA’s Monetary
Policy Meeting Minutes. The pair jumps back above $0.78 mark and hits highest level since Jan
07, 2021. Key technical tool triple EMA too confirms the bullish trend in short run. A sustained
close above $0.78 on a Day chart is required for the upside rally. Alternatively, reversal from here
will drag the parity down to test immediate supports.
0.7778
0.7722
0.7690
0.7638

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.2170
R2 S2
1.2189
R3 S3
1.2224
R4
Commentary
S4
1.2262
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-
Time Frame: H1
EUR/USD: The euro strengthens in early Asia ahead of German ZEW economic sentiment and
Euro Zone’s quarterly GDP results. The pair made intraday high at $1.2150 and low at $1.2124
mark. Today the triple EMA is about to confirm the bullish trend on a Day chart while H1 chart has
confirmed the uptrend in short run. The key boundaries for the parity will be $1.2170 to $1.2118
mark. A consistent break of either side on a day chart will provide further directions to the parity.
EUR / USD
1.2118
1.2044
1.1961
1.1900
FEBRUARY,
2
021
Buy Above 1.21575
1.21731
1.21328
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.21284
1.21098
1.21505
– Take Profit
– Stop Loss
Trade Idea
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50

5. 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
1.3967
R2 S2
1.4001
R3 S3
1.4032
R4
Commentary
S4
1.4084
Buy Above 1.39822
1.40261
1.39315
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.39108
1.38609
1.39760
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The pound strengthens sharply on Tuesday and hits highest level since April 2018.
The pair touches $1.3951 mark in early Asia. The U.K. has schedules to release its inflation and
retail sales data this week, which will provide further direction to the parity. Technical indicators
like triple EMA and RSI confirm the bullish trend for the time being. The key range for the parity
will be $1.4032 mark to $1.3900 mark. A successful close of either side on a Day Chart will
provide further direction to the parity.
USD
1.3900
1.3845
1.3767
1.3738
FEBRUARY,
2
021
GBP/

6. BUY SELL
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Technical Summary
Trends Down Trend
Moving Average (Period=75A) Below MA
H 1
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1.2650
R2 S2
1.2691
R3 S3
1.2730
R4
Commentary
S4
1.2784
Buy Above 1.26378
1.26690
1.26060
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.25903
1.25648
1.26206
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/CAD: The Canadian dollar rises noticeably on Tuesday and touches 1.2610 mark in Asian
hours. A day chart and H1 chart confirm the bearish trend in short run. A sustained close below
1.2629 requires for the downside rally. Alternatively, reversal from here will drag the parity back
above 1.2700 mark. The key range for the parity will be 1.2588 to 1.2650 mark.
USD /CAD
1.2588
1.2546
1.2526
1.2482
FEBRUARY,
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
105.68
R2 S2
106.02
R3 S3
106.50
R4
Commentary
S4
106.78
Buy Above 105.786
106.046
105.492
– Take Profit
– Stop Loss
Trade Idea
Sell Below 105.373
105.183
105.626
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/JPY: The Japanese yen weakens sharply in early Asia after BOJ Kuroda’s comments on
monetary easing. The pair made intraday high at 105.53 and low at 105.26 mark. A consistent
close above 105.50 will test further resistances. On the bottom side, key support is seen at 105.26
mark. A sustained break and close below it on H1 chart will drag the parity below 104.50 mark.
Both RSI and triple EMA confirm the bullish trend for the time being.
USD /JPY
105.26
104.70
104.22
103.60
FEBRUARY,
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
1832
R2 S2
1840
R3 S3
1848
R4
Commentary
S4
1854
Buy Above 1829.12
1835.45
1822.23
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1818.99
1812.08
1825.69
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold trade marginally higher on Tuesday and hovers around key resistance at
$1,828 mark. Today a Day chart still confirms the bearish trend while on H1 chart, triple EMA is
very nearer to successful crossover to signal the uptrend in short run. One has to wait for the few
more candles to check the trend in H1 chart. A sustained close above $1,832 on a Day chart
requires for the upside rally. Alternatively, reversal from key resistance will drag the parity down
below $1,810 mark. Later in U.S. session, U.S. economic indicator will provide further direction to
the parity.
XAU [GOLD]
USD
/
1815
1807
1798
1785
FEBRUARY,
2
021

9. Thank
you!
Info@tpglobalfx.com
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