DAILY ANALYSIS REPORT MAY 04 2021

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04 May , 2021
Daily Analysis Report

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Asian Bulle n: Aussie remains vola le a er RBA’s Interest Rate Decision, Asian stock markets in green, gold down
Key Headlines:
• RBA Keeps interest Rate unchanged at 0.10 pct.
• RBA Governor - Global trade in goods has picked up strongly and commodity prices are mostly higher than at the start of the year.
• RBA Governor - The Australian dollar remains in the upper end of the range of recent years.
• RBA Governor - The economic recovery in Australia has been stronger than expected and is forecast to con nue.
• RBA Governor - The Bank's central scenario for GDP growth has been revised up further, with growth of 4¾ per cent expected over 2021 and 3½ per cent over
2022.
• RBA Governor - The unemployment rate is expected to con nue to decline, to be around 5 per cent at the end of this year and around 4½ per cent at the end
of 2022.
• RBA Governor - A pick-up in infla on and wages growth is expected, but it is likely to be only gradual and modest.
• RBA Governor - RBA will not increase the cash rate un l actual infla on is sustainably within the 2 to 3 per cent target range.
• Australia trade balance stands at 5.57B vs 7.60B previous release.
• South Korea CPI stands at 2.3 pct vs 1.5 pct previous release.
Economic Data Ahead:
• (0700 GMT/1230 IST) Swiss SECO Consumer Climate, previous -15, expected -11.
• (0830 GMT/1400 IST) U.K. Final manufacturing PMI, previous 60.7, expected 60.7.
• (1230 GMT/1800 IST) U.S. trade balance, previous -71.1B, expected -74.5B.
• (1230 GMT/1800 IST) Canada trade balance, previous 1.0B, expected 0.5B.
• (1400 GMT/1930 IST) U.S. Factory Orders, previous -0.8, expected 1.3.
Economic Events Ahead:
• No Key Events are 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 up 0.16% to 91.09 points.

3. AUD / USD
BUY SELL
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MAY,
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
0.7770
R2 S2
0.7790
R3 S3
0.7812
R4
Commentary
S4
0.7832
Buy Above 0.7770
0.7802
0.7735
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.7722
0.7696
0.7761
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie weakens slightly after RBA’s Cash Rate Decision. The pair made intraday
high at $0.7763 and low at $0.7735 mark. A day chart confirms up trend in long run while on H1
chart triple EMA might crossover successfully to confirm bearish trend in short run. A sustained
close above $0.7770 on H1 chart requires for the upside rally. Alternatively, a consistent close
below $0.7722 will check further supports.
0.7722
0.7702
0.7677
0.7640

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.2067
R2 S2
1.2098
R3 S3
1.2122
R4
Commentary
S4
1.2148
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-
Time Frame: H1
EUR/USD: The euro reverses previous gain against U.S. dollar and hovers around $1.2050 mark.
Today pair made intraday high at $1.2063 and low at $1.2042. Today triple EMA on a day chart is
up while H1 chart confirms down trend for the time being. A consistent close above $1.2067 on H1
chart requires for the upside rally. Alternatively, a sustained close below $1.2016 on H1 will check
further supports.
EUR / USD
1.2001
1.1976
1.1948
1.1920
Buy Above 1.2070
1.2098
1.2032
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2020
1.1998
1.2065
– Take Profit
– Stop Loss
Trade Idea
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
MAY,
2
021

5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.3927
R2 S2
1.3954
R3 S3
1.3978
R4
Commentary
S4
1.4001
Buy Above 1.3921
1.3954
1.3890
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.3854
1.3810
1.3890
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The pound depreciates on Tuesday ahead of U.K.’s Final Manufacturing PMI results.
The pair made intraday high at $1.3911 and low at $1.3873 mark. Today a day chart is bullish
while H1 chart with triple EMA might give crossover to confirm the bearish trend. A sustained
close above $1.3927 requires for the upside rally. Alternatively, a consistent close below $1.3850
will check further key supports.
USD
1.3850
1.3802
1.3780
1.3742
GBP/
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
MAY,
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
1.2315
R2 S2
1.2343
R3 S3
1.2371
R4
Commentary
S4
1.2392
Buy Above 1.2315
1.2343
1.2290
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2280
1.2255
1.2312
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/CAD: The Canadian dollar moves in stiff boundaries and remains well supported below 1.23
mark. Today pair made intraday high at 1.2298 and low at 1.2273 mark. A day chart and H1 chart
with Triple EMA confirm bearish trend for the time being. A sustained close above 1.2315 on H1
chart requires for the upside rally. Alternatively, a consistent close below 1.2270 on H1 chart will
check key supports too.
USD /CAD
1.2270
1.2255
1.2210
1.2178
MAY,
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
109.38
R2 S2
109.61
R3 S3
109.82
R4
Commentary
S4
110.22
Buy Above 109.40
109.65
109.00
– Take Profit
– Stop Loss
Trade Idea
Sell Below 108.90
108.67
109.32
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/JPY: The Japanese yen trades marginally lower against U.S. dollar and stabilizes above
109.00 mark. The pair made intraday high at 109.26 and low at 109.00 mark. The triple EMA on a
day chart is bullish while H1 chart suggest down trend for the time being. A sustained close above
109.38 on H1 chart requires for the upside rally. Alternatively, a consistent close below 108.93 on
H1 will check key supports.
USD /JPY
108.93
108.65
108.40
108.22
MAY,
2
021

8. 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
1793
R2 S2
1798
R3 S3
1805
R4
Commentary
S4
1812
Buy Above 1793
1799
1787
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1778
1772
1787
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold depreciates on Tuesday and stabilizes below $1,790 mark. Today pair
made intraday high at $1,793 and low $1,784 mark. A day chart as well as H1 chart is confirming
Up Trend for the time being. A sustained close above $1,793 on H1 chart requires for the upside
rally. Alternatively, a consistent close below $1,778 will check further supports. Later today, U.S.
will release factory orders data.
XAU [GOLD]
USD
/
1778
1772
1766
1762
MAY,
2
021

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