Daily Analysis Report February 08 2021

+1 7754 366 970
analysis@tpglobalfx.com
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08 February, 2021
Daily Analysis Report

+1 7754 366 970
Asian Bulle n: Japanese yen falls in early Asia a er mixed economic data, Asian stock markets in green, gold touches $1,818 mark in early Asia
Key Headlines:
• Japan bank lending stands at 6.1 pct vs 6.2 pct previous release.
• Japan Current account stands at 2.28T vs 2.34T previous release (expected 2.21T).
• U.S. President Joe Biden’s administra on will rejoin with the United Na ons Human Rights Council.
• China reported no new locally transmi ed mainland COVID-19 case for the ﬁrst me in nearly two months – Reuters.
• France too reported a fall in new COVID-19 infec ons on Sunday for the fourth successive day - Reuters.
• U.S. Treasury Secretary Janet Yellen - American workers who earn $60,000 per year should receive s mulus checks as part of the White House’s proposed
$1.9 trillion corona virus relief package.
Economic Data Ahead:
• (0645 GMT/1215 IST) Swiss unemployment rate, previous 3.4, expected 3.4.
• (0700 GMT/1230 IST) German Industrial produc on, previous 0.9, expected 0.1.
• (0930 GMT/1500 IST) Euro Sen x Investor conﬁdence, previous 1.3, expected 4.1.
Economic Events Ahead:
• No key events 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 0.02% to 91.06 points.

AUD / USD
BUY SELL
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FEBRUARY,
2
021
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
0.7684
R2 S2
0.7700
R3 S3
0.7743
R4
Commentary
S4
0.7799
Buy Above 0.76915
0.77176
0.76634
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.76475
0.76227
0.76782
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
-
Time Frame: H1
AUD/USD: The Aussie recovers sharply from previous losses and stabilizes well above $0.7650
mark. For the intraday trading purpose, both RSI and triple EMA conﬁrm the bullish trend. The pair
made intraday high at $0.7681 and low at $0.7666 mark. A sustained close above $0.7676 on a
Day will check key resistances. Alternatively, reversal will test key supports too.
0.7590
0.7532
0.7520
0.7500

BUY SELL
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Technical Summary
Trends Up Trend
H 1
FIBO Levels PIVOT
R1 S1
1.3758
R2 S2
1.3802
R3 S3
1.3838
R4
Commentary
S4
1.3876
Buy Above 1.37504
1.37852
1.37139
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.36984
1.36648
1.37355
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
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Time Frame: H1
GBP/USD: The pound remains very strong against U.S. dollar and consolidates around $1.3730
mark. On the top side, key hurdle is observed at $1.3758 mark. A break above will check key
resistances. Alternatively, reversal from it will test key supports at $1.3640 mark. The key
boundaries for the parity will be $1.3758 to $1.3701 mark. A successful close of either side on a
Day Chart will provide further direction to the parity.
USD
1.3700
1.3637
1.3590
1.3520
FEBRUARY,
2
021
GBP/

BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.2054
R2 S2
1.2087
R3 S3
1.2122
R4
Commentary
S4
1.2170
+1 7754 366 970
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Time Frame: H1
EUR/USD: The euro starts a new week on a ﬂat note and hovers around $1.2040 mark. Today
German industrial production results may give further direction to the parity. On H1 chart, pair
conﬁrms the uptrend while on a Day chart, the parity suggest the bearish trend. A sustained close
above $1.2050 on a day chart will check further resistances. Alternatively, a slip below $1.2020
will drag the parity back below $1.19 mark.
EUR / USD
1.2020
1.1957
1.1922
1.1900
FEBRUARY,
2
021
Buy Above 1.20702
1.21100
1.20269
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.20006
1.19656
1.20384
– Take Profit
– Stop Loss
Trade Idea
Trends Up Trend

BUY SELL
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Technical Summary
Trends Down Trend
Moving Average (Period=75A) Below MA
H 1
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1.2784
R2 S2
1.2850
R3 S3
1.2902
R4
Commentary
S4
1.2934
Buy Above 1.27891
1.28210
1.27537
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.27386
1.27119
1.27686
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
-
Time Frame: H1
USD/CAD: The Canadian dollar exhibits range bound movement and moves in between key
hurdles from 1.2850 to 1.2630 mark. Triple EMA and RSI support the bearish trend on a Day
Chart and H1 chart too. A sustained close of either side will only provide further direction of the
parity.
USD /CAD
1.2735
1.2690
1.2630
1.2600
FEBRUARY,
2
021

BUY SELL
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Technical Summary
Trends Up Trend
H 1
FIBO Levels PIVOT
R1 S1
105.94
R2 S2
106.26
R3 S3
106.50
R4
Commentary
S4
106.88
Buy Above 105.592
105.801
105.300
– Take Profit
– Stop Loss
Trade Idea
Sell Below 105.311
105.072
105.572
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
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Time Frame: H1
USD/JPY: The Japanese yen depreciates after mixed economic data. Here the triple EMA as well
as RSI conﬁrm the uptrend for the time being. A sustained close above 105.50 on a Day Chart
requires for the upside rally. Alternatively, a fall below 105.10 will check key supports too.
USD /JPY
104.90
104.22
103.60
102.92
FEBRUARY,
2
021

BUY SELL
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Technical Summary
Trends Up Trend
H 1
FIBO Levels PIVOT
R1 S1
1818
R2 S2
1822
R3 S3
1827
R4
Commentary
S4
1840
Buy Above 1815.75
1824.36
1808.35
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1805.81
1798.52
1813.14
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
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Time Frame: H1
XAU/USD (GOLD): Gold remains volatile in Asian hours and jumps back above $1,800 mark. The
pair made intraday high at $1,818 and low at $1,808 mark. Today no key fundamental are
scheduled from the U.S. but as observed earlier, in the absence of key indicators from the U.S.,
gold might face extreme volatility during the U.S. session. On a Day Chart, triple EMA signals the
bearish trend, while on H1 chart, gold moves in stiﬀ boundaries suggesting sideways movement
for the time being. A consistent close above $1,818 on H1 chart may bring some upside rally.
Alternatively, a sustained close below $1,802 will check further key supports.
XAU [GOLD]
USD
/
1802
1792
1785
1764
FEBRUARY,
2
021

Thank
you!
Info@tpglobalfx.com
www.tpglobalfx.com
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Daily Analysis Report February 08 2021

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Daily Analysis Report February 08 2021