DAILY ANALYSIS REPORT MAY 05 2021

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05 May , 2021
Daily Analysis Report

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Asian Bulle n: Euro weakens ahead of EU Economic Forecasts, Asian stock markets mixed; gold slips below $1,780 mark, Markets eye U.S. ADP Job Results
Key Headlines:
• South Korea, Japan and China banks will remain closed for the day.
• Australia AIG construc on index stands at 59.1 vs 61.8 previous release.
• New Zealand Employment change remains unchanged at 0.6 pct (expected 0.3).
• New Zealand unemployment rate stands at 4.7 pct vs 4.9 pct previous release (expected 4.9).
• New Zealand NZ commodity prices stand at 2.3 pct vs 6.1 pct previous release.
• Australia building approvals stand at 17.4 vs 20.1 previous release (expected 2.9).
• Hong Kong manufacturing PMI stands at 50.3 vs 50.5 previous release.
Economic Data Ahead:
• (0700 GMT/1230 IST) Spain unemployment change, previous -59.1K, expected -70.0K.
• (0715 GMT/1245 IST) Spain Services PMI, previous 48.1, expected 50.0.
• (0745 GMT/1315 IST) Italy services PMI, previous 48.6, expected 50.0.
• (0750 GMT/1320 IST) France Services PMI, previous 50.4, expected 50.4.
• (0755 GMT/1325 IST) German Final Services PMI, previous 50.1, expected 50.1.
• (0800 GMT/1330 IST) Euro Final Services PMI, previous 50.3, expected 50.3.
• (0900 GMT/1430 IST) Euro PPI, previous 0.5, expected 1.1.
• (1215 GMT/1745 IST) U.S. ADP Job Results, previous 517K, expected 872K.
• (1345 GMT/1915 IST) U.S. Final Services PMI, previous 63.1, expected 63.1.
• (1400 GMT/1930 IST) U.S. ISM Services PMI, previous 63.7, expected 64.2.
Economic Events Ahead:
• Tenta ve – EU Economic Forecasts.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.08% to 91.22 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
0.7754
R2 S2
0.7770
R3 S3
0.7790
R4
Commentary
S4
0.7812
Buy Above 0.7742
0.7765
0.7710
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.7702
0.7678
0.7730
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie enjoys roller coaster movement after RBA’s cash rate decision. Today
Aussie strengthens and stabilizes above $0.77 mark. The pair made intraday high at $0.7737 and
low at $0.7704 mark. A day chart confirms up trend in long run while on H1 chart triple EMA
confirms bearish trend in short run. A sustained close above $0.7750 on H1 chart requires for the
upside rally. Alternatively, a consistent close below $0.7702 will check further supports.
0.7702
0.7677
0.7640
0.7600

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.2040
R2 S2
1.2067
R3 S3
1.2098
R4
Commentary
S4
1.2122
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-
Time Frame: H1
EUR/USD: The euro appreciates against U.S. dollar and stabilizes above $1.2000 mark. Today
pair made intraday high at $1.2026 and low at $1.2008. Today triple EMA on a day chart is up
while H1 chart confirms down trend for the time being. A consistent close above $1.2040 on H1
chart requires for the upside rally. Alternatively, a sustained close below $1.2001 on H1 will check
further supports.
EUR / USD
1.2001
1.1976
1.1948
1.1920
Buy Above 1.2030
1.2058
1.2003
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.1996
1.1973
1.2025
– 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 1.3915
1.3950
1.3890
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.3870
1.3840
1.3906
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The pound appreciates on Wednesday and consolidates around $1.3900 mark. The
pair made intraday high at $1.3914 and low at $1.3882 mark. Today a day chart and H1 chart with
triple EMA confirm bullish trend but current downside movement is short term trend correction
only. A sustained close above $1.3927 requires for the upside rally. Alternatively, a consistent
close below $1.3882 will check further key supports.
USD
1.3882
1.3850
1.3802
1.3776
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 1.2310
1.2337
1.2285
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2280
1.2256
1.2310
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The Canadian dollar strengthens gradually against U.S. dollar and remains well
supported below 1.23 mark. Today pair made intraday high at 1.2312 and low at 1.2283 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
109.35
R2 S2
109.61
R3 S3
109.82
R4
Commentary
S4
110.22
Buy Above 109.40
109.65
109.15
– Take Profit
– Stop Loss
Trade Idea
Sell Below 109.00
108.77
109.35
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY: The Japanese yen rises slightly on Wednesday and hovers around 109.20 mark. The
pair made intraday high at 109.37 and low at 109.20 mark. The triple EMA on a day chart and H1
chart confirm bullish trend for the time being. A sustained close above 109.35 on H1 chart
requires for the upside rally. Alternatively, a consistent close below 108.93 on H1 will check further
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
1784
R2 S2
1789
R3 S3
1794
R4
Commentary
S4
1799
Buy Above 1784
1791
1777
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1768
1763
1775
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold remains volatile on Wednesday ahead of U.S.’s ADP Job Results and
ISM services PMI data. Today pair made intraday high at $1,783 and low $1,776 mark. A day
chart is bullish but H1 chart is confirming down trend for the time being. A sustained close above
$1,782 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,774 will
check further supports. Later today, U.S. will release factory orders data.
XAU [GOLD]
USD
/
1774
1768
1762
1756
MAY,
2
021

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