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Daily analysis-report-march-01-2021

Daily analysis-report-march-01-2021

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Daily analysis-report-march-01-2021

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com R E P O R T F R O M : T P G LO B A L F X 01 March, 2021 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: The Japanese yen remains vola le a er strong manufacturing PMI results, Asian stock markets extremely up, gold hovers around $1,750 mark Key Headlines: • Australia AIG Manufacturing Index stands at 58.8 vs 55.3 previous release. • Australia MI Infla on gauge stands at 0.1 vs 0.2 pct previous release. • Japan Final Manufacturing PMI stands at 51.4 vs 49.8 previous release (expected 49.9). • China Caixin manufacturing PMI stands at 50.9 vs 51.5 previous release (expected 51.3). • South Korea trade balance stands at 2.71B vs 3.76B previous release. • Oil prices up on hope of global recovery and addi onal s mulus package issued by U.S. • Former President Donald Trump on Sunday hinted at another run for the White House in 2024 – Reuters. • New Zealand’s Auckland announced 7 – day lockdown on rising more contagious UK variant. Economic Data Ahead: • (0730 GMT/1300 IST) Swiss Retail Sales, previous 4.7, expected 4.5. • (0815 GMT/1345 IST) Spain Manufacturing PMI, previous 49.3, expected 52.1. • (0830 GMT/1400 IST) Swiss Manufacturing PMI, previous 59.4, expected 60.0. • (0845 GMT/1415 IST) Italy Manufacturing PMI, previous 55.1, expected 57.0. • (0850 GMT/1420 IST) France Manufacturing PMI, previous 55.0, expected 55.0. • (0855 GMT/1425 IST) German Manufacturing PMI, previous 60.6, expected 60.6. • (0900 GMT/1430 IST) Euro Manufacturing PMI, previous 57.7, expected 57.7. • (0930 GMT/1500 IST) U.K. Manufacturing PMI, previous 54.9, expected 54.9. • (1330 GMT/1900 IST) Canada Current account, previous -7.5B, expected -7.0B. • (1430 GMT/2000 IST) Canada Manufacturing PMI, previous 54.4. • (1500 GMT/2030 IST) U.S. ISM Manufacturing PMI, previous 58.7, expected 58.7. Economic Events Ahead: • (1330 GMT/1900 IST) U.S. FOMC member Williams Speaks. • (1335 GMT/1935 IST) U.S. FOMC member Brainard Speaks. • (1610 GMT/2140 IST) Euro ECB President Lagarde Speaks. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.07% to 90.81 points.
  3. 3. AUD / USD BUY SELL R E P O R T F R O M : T P G LO B A L F X MARCH, 2 021 Technical Summary Trends Down Trend Moving Average (Period=75) Belowe MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 S1 0.7772 R2 S2 0.7799 R3 S3 0.7820 R4 Commentary S4 0.7866 Buy Above 0.77756 0.78003 0.77492 – Take Profit – Stop Loss Trade Idea Sell Below 0.77241 0.76951 0.77607 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 AUD/USD: The Aussie recovers slightly from previous losses and stabilizes above $0.77 mark. A day chart with triple EMA suggests the bullish trend in long run but H1 chart has confirmed bearish trend in short run. A sustained close $0.7760 on H1 chart requires for the upside rally. Alternatively, current downside movement will take the parity towards key support at $0.7692 mark. A consistent close below requires for the downside rally. 0.7692 0.7676 0.7622 0.7599
  4. 4. BUY SELL R E P O R T F R O M : T P G LO B A L F X Technical Summary H 1 FIBO Levels PIVOT R1 S1 1.2092 R2 S2 1.2122 R3 S3 1.2167 R4 Commentary S4 1.2205 +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 EUR/USD: The euro moves in stiff boundaries ahead of manufacturing PMI results. A triple EMA on H1 chart suggests the bearish trend. A successful close above $1.2092 on H1 chart requires for the upside rally. Alternatively, current downside movement will check key supports too. A consistent close below $1.2065 on H1 chart requires for the downside rally. Later today, ECB President Lagarde’s speech will provide further direction the parit EUR / USD 1.2065 1.2020 1.2000 1.1961 Buy Above 1.21066 1.21380 1.20696 – Take Profit – Stop Loss Trade Idea Sell Below 1.20639 1.20425 1.20947 – Take Profit – Stop Loss Trade Idea Trends Down Trend Moving Average (Period=75) Belowe MA RSI (Period=26) Below RSI LEVEL 50 MARCH, 2 021
  5. 5. BUY SELL R E P O R T F R O M : T P G LO B A L F X Technical Summary H 1 FIBO Levels PIVOT R1 S1 1.3998 R2 S2 1.4034 R3 S3 1.4086 R4 Commentary S4 1.4120 Buy Above 1.40090 1.40456 1.39633 – Take Profit – Stop Loss Trade Idea Sell Below 1.39518 1.39133 1.39997 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 GBP/USD: The sterling starts a new day on a positive note but pair faces key hurdle at $1.3998 mark. A sustained close above only will check key resistances. The H1 chart with triple EMA confirms bearish trend while a Day chart suggests the bullish trend in long run. On the bottom side, a sustained close below $1.3888 mark requires for the downside rally. USD 1.3888 1.3856 1.3815 1.3750 GBP/ Trends Down Trend Moving Average (Period=75) Belowe MA RSI (Period=26) Below RSI LEVEL 50 MARCH, 2 021
  6. 6. BUY SELL R E P O R T F R O M : T P G LO B A L F X 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 1.2747 R2 S2 1.2768 R3 S3 1.2800 R4 Commentary S4 1.2845 Buy Above 1.27340 1.27758 1.26870 – Take Profit – Stop Loss Trade Idea Sell Below 1.26678 1.26333 1.27015 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/CAD: The Canadian dollar trades marginally higher on Monday and remains well supported above 1.27 mark. A day chart with triple EMA still suggests the bearish trend while H1 chart for the short run confirms the uptrend. The expected range for the parity will be 1.2747 to 1.2672 mark. A sustained close of either side on H1 chart requires for the further trend confirmation. USD /CAD 1.2672 1.2635 1.2610 1.2584 MARCH, 2 021
  7. 7. BUY SELL R E P O R T F R O M : T P G LO B A L F X 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 106.92 R2 S2 107.22 R3 S3 107.54 R4 Commentary S4 107.98 Buy Above 106.705 106.945 106.459 – Take Profit – Stop Loss Trade Idea Sell Below 106.353 106.137 106.672 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/JPY: The Japanese yen remains volatile in early Asia after robust manufacturing PMI data. The pair hits highest level since August 2020. The day as well as H1 chart with triple EMA suggests bullish trend for the time being. A sustained close above 106.92 on a day chart requires for the upside rally. Alternatively, reversal from here will drag the parity down back below 106.00 mark. USD /JPY 105.70 105.22 104.92 104.55 MARCH, 2 021
  8. 8. BUY SELL R E P O R T F R O M : T P G LO B A L F X 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 1754 R2 S2 1761 R3 S3 1772 R4 Commentary S4 1780 Buy Above 1754.82 1760.36 1746.56 – Take Profit – Stop Loss Trade Idea Sell Below 1744.41 1739.55 1752.10 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 XAU/USD (GOLD): The gold fell extremely in previous session and touched $1,717 mark. Today the parity starts a new week on slightly positive note and hovers around $1,750 mark in Asian hours. The pair made intraday high at $1,751 and low at $1,732 mark. This week is full of key U.S. economic indicators and speeches. Therefore, the outcome will provide future path of the parity. A day chart as well as H1 confirms the bearish trend for the time being. A sustained close above $1,761 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,738 will check key supports too. XAU [GOLD] USD / 1738 1732 1726 1718 MARCH, 2 021
  9. 9. Thank you! Info@tpglobalfx.com www.tpglobalfx.com R E P O R T F R O M : T P G L O B A L F X /tpglobalfx /tpglobalfx /tpglobalfx /tpglobalfx that even knowledgeable and well-experienced investors can experience large potential losses as a result of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. IPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc. This site is run and operated by – TP Global Services Limited registered by FSA, St. Vincent and the Grenadines with Number 25274 BC 2019 TP Global Services Limited does not offer its services to residents of certain jurisdictions such as USA, and British Columbia. Disclamer: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note

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