DAILY ANALYSIS REPORT MAY 07 2021

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07 May , 2021
Daily Analysis Report

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Asian Bulle n: U.S. dollar weakens sharply against major peers as U.S. came up with the lower than expected key economic indicators, Asian stock markets mixed,
European stocks open up in green, markets eye U.S. NFP Job Data; Gold up
Key Headlines:
• Australia AIG Services index stands at 61.0 vs 58.7 previous release.
• Japan average cash earnings stands at 0.2 pct vs -0.4 pct previous release (expected -0.2).
• China Caixin Services PMI stands at 56.3 vs 54.3 previous release.
• China trade balance stands at 42.86B vs 13.80B previous release.
• New Zealand Infla on expecta on q/q stands at 2.05 pct vs 1.89 pct previous release.
• South Korea current account stands at 7.82B vs 7.94B previous release.
• Australia’s Trade Minister - The Country’s interna onal borders may not completely open un l the second half of 2022.
• Fed's Kaplan - The unemployment rate in the U.S. could fall below 4% this year.
• Fed's Kaplan - My belief is that U.S. GDP would rise 6.5% this year, with the danger being to the upside.
• Kaplan - Expects infla on to end this year at 2.25%; will watch very carefully.
• Fed's Kaplan - I would like to start more about tapering earlier rather than later.
• Federal Reserve - Asset prices may be vulnerable if risk appe te falls.
Economic Data Ahead:
• (0800 GMT/1330 IST) Italy Retail Sales, previous 6.6, expected -0.6.
• (0830 GMT/1400 IST) U.K. Construc on PMI, previous 61.7, expected 62.0.
• (1230 GMT/1800 IST) Canada employment change, previous 303.1K, expected -160.5K.
• (1230 GMT/1800 IST) Canada unemployment rate, previous 7.5, expected 7.8.
• (1230 GMT/1800 IST) U.S. NFP employment change, previous 916K, expected 990K.
• (1230 GMT/1800 IST) U.S. unemployment rate, previous 6.0, expected 5.8.
Economic Events Ahead:
• (1000 GMT/1530 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 down 0.09% to 90.87 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
0.7790
R2 S2
0.7812
R3 S3
0.7854
R4
Commentary
S4
0.7900
Buy Above 0.7792
0.7815
0.7770
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.7765
0.7740
0.7794
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie trades marginally lower after RBA’s Monetary Policy Statement released in
early Asian hours. The pair made intraday high at $0.7791 and low at $0.7773 mark. A day chart
and H1 chart confirm up trend for the time being. A sustained close above $0.7790 on H1 chart
requires for the upside rally. Alternatively, a consistent close below $0.7770 will check further
supports.
0.7770
0.7740
0.7702
0.7677

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.2074
R2 S2
1.2098
R3 S3
1.2122
R4
Commentary
S4
1.2150
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-
Time Frame: H1
EUR/USD: The euro moves in stiff boundaries on Friday and hovers around $1.2050 mark. Today
pair made intraday high at $1.2069 and low at $1.2056. Today triple EMA on a day and H1 chart is
confirming Up Trend. A consistent close above $1.2074 on H1 chart requires for the upside rally.
Alternatively, a sustained close below $1.2040 on H1 will check further supports.
EUR / USD
1.2040
1.2001
1.1976
1.1948
Buy Above 1.2075
1.2104
1.2060
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2050
1.2022
1.2068
– Take Profit
– Stop Loss
Trade Idea
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above 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
1.3948
1.3885
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.3870
1.3840
1.3910
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The pound remained highly volatile in previous session after BOE’s Interest Rate
Decision and currently pair stabilizes above $1.3900 mark. The pair made intraday high at
$1.3912 and low at $1.3879 mark. Today a day chart and H1 chart with triple EMA confirm bullish
trend for the time being. A sustained close above $1.3917 requires for the upside rally.
Alternatively, a consistent close below $1.3878 will check further key supports.
USD
1.3878
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
1.2193
R2 S2
1.2218
R3 S3
1.2247
R4
Commentary
S4
1.2281
Buy Above 1.2193
1.2222
1.2170
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2147
1.2115
1.2186
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The Canadian dollar erases previous gain against U.S. dollar and hovers around
1.2170 mark. In previous session, pair hits lowest level since Sept 2017. Today pair made intraday
high at 1.2178 and low at 1.2142 mark. A day chart and H1 chart with Triple EMA confirm bearish
trend for the time being. A sustained close above 1.2193 on H1 chart requires for the upside rally.
Alternatively, a consistent close below 1.2146 on H1 chart will check key supports too.
USD /CAD
1.2142
1.2104
1.2074
1.2038
MAY,
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
109.20
R2 S2
109.48
R3 S3
109.65
R4
Commentary
S4
109.82
Buy Above 109.20
109.50
109.00
– Take Profit
– Stop Loss
Trade Idea
Sell Below 108.92
108.70
109.14
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY: The Japanese yen trades flat on Friday and stabilizes around 109.10 mark. The pair
made intraday high at 109.18 and low at 108.93 mark. The triple EMA on a day chart is bullish
while H1 chart confirms bearish trend for the time being. A sustained close above 109.20 on H1
chart requires for the upside rally. Alternatively, a consistent close below 109.00 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
1822
R2 S2
1827
R3 S3
1834
R4
Commentary
S4
1840
Buy Above 1822
1827
1815
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1809
1802
1815
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold spiked up sharply in previous session as U.S. released economic data
with mixed numbers and comments from FOMC members on current economic scenario. Today
pair made intraday high at $1,822 and low $1,812 mark. It is the highest level since Feb 16, 2021.
A day chart as well as H1 chart is confirming bullish trend for the time being. A sustained close
above $1,820 on H1 chart requires for the upside rally. Alternatively, a consistent close below
$1,810 will check further supports. The key event for the day will be U.S. NFP Job results.
XAU [GOLD]
USD
/
1807
1802
1794
1787
MAY,
2
021

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