DAILY ANALYSIS REPORT MAY 06 2021

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06 May , 2021
Daily Analysis Report

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Asian Bulle n: Aussie remains highly vola le a er China suspends Economic Talk with Australia, Asian stock markets mixed, gold up
Key Headlines:
• New Zealand building consents stand at 17.9 vs -19.3 previous release.
• New Zealand Prelim ANZ business confidence stands at 7.0 vs -2.0 previous release.
• South Korea FX Reserves stands at 452.31B vs 446.13B previous release.
• Brazil raised key interest rate to 3.50 pct vs 2.75 pct previous release.
• China State Planner - To suspend indefinitely all ac vi es under the China - Australia strategic Economic Dialogue Mechanism.
Economic Data Ahead:
• (0830 GMT/1400 IST) U.K. Final Services PMI, previous 60.1, expected 60.2.
• (0900 GMT/1430 IST) Euro Retail sales, previous 3.0, expected 1.5.
• (1100 GMT/1630 IST) U.K. Interest Rate Decision, previous 0.10, expected 0.10.
• (1200 GMT/1800 IST) U.S. unemployment claims weekly, previous 553K, expected 540K.
• (1230 GMT/1800 IST) U.S. Prelim Nonfarm produc vity, previous -4.2, expected 4.3.
• (1230 GMT/1800 IST) U.S. Prelim unit labor costs, previous 6.0, expected -1.1.
Economic Events Ahead:
• (0800 GMT/1330 IST) ECB Economic Bulle n.
• (0900 GMT/1430 IST) Australia RBA Deputy Gov Dabelle Speaks.
• (1115 GMT/1645 IST) ECB President Lagarde speaks.
• (1300 GMT/1830 IST) U.S. FOMC member Williams Speaks.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.04% to 91.34 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 0.7757
0.7790
0.7720
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.7702
0.7676
0.7740
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie depreciates sharply against major peers after China suspended indefinitely
all activities under the China-Australia Strategic Economic Dialogue Mechanism. The pair made
intraday high at $0.7757 and low at $0.7701 mark. A day chart confirms up trend in long run while
on H1 chart triple EMA may give crossover for the bearish trend confirmation. A sustained close
above $0.7755 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 trades almost flat on Thursday and consolidates around $1.20 mark. Today
pair made intraday high at $1.2011 and low at $1.1993. Today triple EMA on a day chart is up
while H1 chart confirms down trend for the time being. A consistent close above $1.2018 on H1
chart requires for the upside rally. Alternatively, a sustained close below $1.2000 on H1 will check
further supports.
EUR / USD
1.2001
1.1976
1.1948
1.1920
Buy Above 1.2020
1.2045
1.1998
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.1992
1.1968
1.2015
– 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 1.3927
1.3967
1.3884
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.3868
1.3838
1.3911
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The pound rises gradually against U.S. dollar and stabilizes around $1.3900 mark. The
pair made intraday high at $1.3913 and low at $1.3885 mark. Today a day chart and H1 chart with
triple EMA confirm bullish trend for the time being. A sustained close above $1.3911 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 Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above 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
1.2299
R2 S2
1.2315
R3 S3
1.2343
R4
Commentary
S4
1.2371
Buy Above 1.2299
1.2323
1.2270
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2250
1.2218
1.2290
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/CAD: The Canadian dollar appreciates remarkably against U.S. dollar and remains well
supported below 1.23 mark. Today pair made intraday high at 1.2288 and low at 1.2257 mark. A
day chart and H1 chart with Triple EMA confirm bearish trend for the time being. A sustained close
above 1.2299 on H1 chart requires for the upside rally. Alternatively, a consistent close below
1.2256 on H1 chart will check key supports too.
USD /CAD
1.2251
1.2210
1.2178
1.2150
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
109.48
R2 S2
109.65
R3 S3
109.82
R4
Commentary
S4
110.22
Buy Above 109.50
109.68
109.11
– Take Profit
– Stop Loss
Trade Idea
Sell Below 109.05
108.82
109.40
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/JPY: The Japanese yen moves in stiff boundaries on Thursday and stabilizes around 109.40
mark. The pair made intraday high at 109.42 and low at 109.14 mark. The triple EMA on a day
chart and H1 chart confirm bullish trend for the time being. A sustained close above 109.48 on H1
chart requires for the upside rally. Alternatively, a consistent close below 109.10 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 Up Trend
Moving Average (Period=75) Above MA
H 1
RSI (Period=26) Above RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1794
R2 S2
1799
R3 S3
1805
R4
Commentary
S4
1812
Buy Above 1799
1809
1787
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1782
1775
1794
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold strengthens on sharply on Thursday and touches $1,793 mark. Today
pair made intraday high at $1,793 and low $1,782 mark. A day chart as well as H1 chart is
confirming bullish trend for the time being. A sustained close above $1,794 on H1 chart requires
for the upside rally. Alternatively, a consistent close below $1,782 will check further supports.
XAU [GOLD]
USD
/
1782
1776
1772
1768
MAY,
2
021

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