Daily Analysis Report February 23, 2021

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23 February, 2021
Daily Analysis Report

2. +1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: The sterling appreciates sharply ahead of U.K.’s Claimant Count Change data, most Asian stock markets in green ahead of Powell’s Tes mony, Gold up
Key Headlines:
• Japanese Banks will be closed in the observance of the Emperor’s Birthday.
• New Zealand retail sales q/q stand at -2.7 pct vs 27.8 pct previous release (expected -0.5).
• New Zealand core retail sales q/q stand at -3.1 pct vs 23.9 pct previous release (expected -0.6).
• Australia goods trade balance stands at 8.75B vs 9.18B previous release.
• South Korea consumer confidence stands at 97.4 vs 95.4 previous release.
• China house prices stand at 3.9 pct vs 3.8 pct previous release.
• U.S. Supreme Court ordered to obtain the former president Trump’s Tax Returns and other records as part of an accelera ng criminal inves ga on.
• Oil prices rise on the back of lower U.S. produc on due to cold weather in Texas, as frozen pipes and power supply interrup ons slow their recovery.
• The U.S. Senate voted on late Monday to advance the nomina on of President Joe Biden’s pick to be ambassador to the United Na ons, final vote due today.
• The U.S. House of Representa ves Budget Commi ee on Monday approved legisla on with $1.9 trillion in new coronavirus relief.
• Bitcoin hovers around $ 51,500 mark a er crea ng historical high at $58,354 mark two days before.
Economic Data Ahead:
• (0700 GMT/1230 IST) U.K. claimant count change, previous 7.0K, expected 13.8K.
• (0700 GMT/1230 IST) U.K. unemployment rate, previous 5.0, expected 5.1.
• (0730 GMT/1300 IST) Swiss PPI, previous 0.5, expected 0.4.
• (1000 GMT/1530 IST) Euro final CPI, previous 0.9, expected 0.9.
• (1000 GMT/1530 IST) Euro final core CPI, previous 1.4, expected 1.4.
• (1100 GMT/1630 IST) U.K. CBI realized sales, previous -50, expected -39.
• (1400 GMT/1930 IST) U.S. HPI, previous 1.0, expected 1.0.
Economic Events Ahead:
• (1500 GMT/2030 IST) U.S. Fed Chair Powell Tes mony.
• (1730 GMT/2300 IST) BoC Canada Gov Macklem’s speech.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.01% to 90.02 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
0.7940
R2 S2
0.7988
R3 S3
0.8038
R4
Commentary
S4
0.8056
Buy Above 0.79403
0.79766
0.78930
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.78834
078426
0.79373
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie continues to trade higher and touches $0.7934 mark in Asian hours. On a
Day as well as H1chart, RSI and triple EMA confirm the clear uptrend. A sustained close above
$0.7932 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.7866
will test key supports too.
0.7866
0.7842
0.7799
0.7740

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.2205
R2 S2
1.2264
R3 S3
1.2323
R4
Commentary
S4
1.2352
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-
Time Frame: H1
EUR/USD: The euro rises gradually against U.S. dollar and remains well supported above
$1.2150 mark. Today Euro zone will release inflation data for the month of January. The day as
well as H1 chart has confirmed the uptrend for the time being. The likely range for the parity will
be $1.2205 to $1.2090 mark. A sustained close of either side on H1 chart will provide further
direction to the parity.
EUR / USD
1.2152
1.2090
1.2020
1.1961
FEBRUARY,
2
021
Buy Above 1.21832
1.22032
1.21594
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.21463
1.21274
1.21687
– 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
1.4138
R2 S2
1.4187
R3 S3
1.4222
R4
Commentary
S4
1.4248
Buy Above 1.41055
1.41538
1.40619
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.40405
1.40107
1.40770
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The sterling climbs sharply against U.S. dollar ahead of U.K.’s job data. The pair made
intraday high at $1.4083 and low at $1.4055 mark. The Day and H1 chart confirm the bullish trend
for the time being. The expected range for the parity will be $1.4187 to $1.4030 mark. A consistent
close of either side will give future directions to the parity.
USD
1.4030
1.3989
1.3951
1.3910
FEBRUARY,
2
021
GBP/

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
1.2642
R2 S2
1.2674
R3 S3
1.2730
R4
Commentary
S4
1.2784
Buy Above 1.26232
1.26575
1.25877
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.25727
1.25364
1.26148
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/CAD: The Canadian dollar strengthens sharply ahead of BoC’s Governor Macklem’s speech
due at 1730 GMT. Triple EMA on H1 and a Day chart confirm the down trend. The pair made
intraday high at 1.2618 and low at 1.2585 mark. A sustained close above 1.2642 on a H1 requires
for the upside rally. Alternatively, a consistent close below 1.2610 on a Day chart requires for the
bearish trend confirmation.
USD /CAD
1.2544
1.2527
1.2495
1.2411
FEBRUARY,
2
021

7. 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
105.40
R2 S2
105.92
R3 S3
106.38
R4
Commentary
S4
106.78
Buy Above 105.364
105.583
105.112
– Take Profit
– Stop Loss
Trade Idea
Sell Below 104.838
104.606
105.092
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/JPY: The Japanese banks will remain closed for the day and hence expecting less volatility
in JPY parity. The Japanese yen recovers previous losses and today touches 104.92 mark in early
Asia. The pair made intraday high at 105.09 and low at 104.92 levels. The Day chart with triple
EMA still suggest the bullish trend while H1 chart has confirmed downside pressure for the time
being. A sustained close above 105.12 on H1 requires for the upside rally. Alternatively, a
sustained close below 104.94 on H1 will test further supports.
USD /JPY
104.92
104.55
104.20
103.76
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
1822
R2 S2
1827
R3 S3
1832
R4
Commentary
S4
1840
Buy Above 1820.83
1829.78
1811.51
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1805.74
1799.21
1813.58
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold appreciates sharply and remains well supported above $1,800 mark.
The pair made intraday high at $1,816 and low at $1,806 mark. The key event for the day will be
U.S. Fed Chair Powell’s Testimony. The triple EMA on a Day chart still showing some downside
pressure but in short run, H1 chart confirms bullish trend. A sustained close above $1,822
requires for the upside rally. Alternatively, a consistent close below $1,798 will check further
supports.
XAU [GOLD]
USD
/
1802
1794
1787
1778
FEBRUARY,
2
021

9. Thank
you!
Info@tpglobalfx.com
www.tpglobalfx.com
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