Daily Analysis Report February 05 2021

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05 February, 2021
Daily Analysis Report

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analysis@tpglobalfx.com
Asian Bulle n: Sterling recovers sharply on BOE’s posi ve outlook of U.K.’s economy, Asian stock markets in green, gold down, Markets eye U.S. NFP Employment Change
Data
Key Headlines:
• Australia AIG services index stands at 54.3 vs 52.9 previous release.
• Japan household spending stands at -0.6 pct vs 1.1 pct previous release (expected -1.9).
• Australia retail sales stands at -4.1 vs -4.2 previous release (expected -4.2).
• South Korea current account stands at 11.51B vs 9.18B previous release.
• Fed’s George – Too soon to discuss tapering bond buying.
• U.S. President Biden declared new foreign policy, started with ‘America is back’ in his first diploma c speech.
• U.S. President Biden - We must meet the new moment ... accelera ng global challenges from the pandemic to the climate crisis to nuclear prolifera on.
• U.S. President Biden - American alliances are our greatest asset and leading with diplomacy means standing shoulder to shoulder with our allies and key
partners once again.
• U.S. President Biden likely to restart Iran nuclear deal, renewed U.S. membership in the Paris accord and the World Health Organiza on.
• U.S. President Biden called Beijing “our most serious compe tor.”
• U.S. President Biden - We are a country that does big things. American diplomacy makes it happen and our administra on is ready to take up the mantle and
lead once again.
• U.S. President Biden took back U.S. support for Saudi Arabia in Yemen, added war “has to end”.
• U.S. President Biden – U.S. is ready to work with China when it is in America’s interest.
Economic Data Ahead:
• (0700 GMT/1230 IST) German factory orders, previous 2.3, expected -1.2.
• (0745 GMT/1315 IST) France Trade balance, previous -3.6B, expected -4.2B.
• (0800 GMT/1330 IST) Swiss Foreign Currency Reserves, previous 891B.
• (0830 GMT/1400 IST) U.K. Halifax HPI, previous 0.2, expected 0.7.
• (1330 GMT/1900 IST) Canada employment change, previous -62.6K, expected -43.5K.
• (1330 GMT/1900 IST) Canada unemployment rate, previous 8.6, expected 8.9.
• (1330 GMT/1900 IST) U.S. NFP employment change, previous -140K, expected 77K.
• (1330 GMT/1900 IST) U.S. unemployment rate, previous 6.7, expected 6.7.
• (1500 GMT/2030 IST) Canada Ivey PMI, previous 46.7, expected 49.5.
Economic Events Ahead:
• (1215 GMT/1745 IST) U.K. BOE Gov Bailey 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 91.57 points.

3. AUD / USD
BUY SELL
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FEBRUARY,
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
0.7622
R2 S2
0.7684
R3 S3
0.7743
R4
Commentary
S4
0.7799
Buy Above 0.76198
0.76569
0.75833
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.75669
0.75381
0.76129
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie falls gradually against U.S. dollar and slips back below $0.76 mark. On a
day chart, triple EMA still confirms the uptrend only while on H1 chart, it confirms bearish trend.
The pair made intraday high at $0.7608 and low at $0.7583 mark. A sustained close above
$0.7622 on a Day will check key resistances. Alternatively, current downside movement will test
key supports. Today in early Asia, RBA Gov Lowe’s speech failed to bring volatility in the AUD
parity.
0.7590
0.7532
0.7520
0.7500

4. 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
1.3701
R2 S2
1.3740
R3 S3
1.3762
R4
Commentary
S4
1.3802
Buy Above 1.37057
1.37405
1.36692
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.36516
1.36212
1.36917
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The pound remained extremely volatile in previous session after BOE’s interest rate
decision and monetary policy. BOE Gov delayed applying negative interest rate and showed his
hope of recovery. The sterling spiked up sharply after his hawkish tone and recovered from
$1.3566 to $1.3698 mark. Today pair trades flat and stabilizes above $1.3650 mark. Both RSI and
triple EMA confirm the bullish trend on Day as well as H1 chart. The key boundaries for the parity
will be $1.3637 to $1.3701 mark. A successful close of either side will provide further direction to
USD
1.3637
1.3567
1.3520
1.3490
FEBRUARY,
2
021
GBP/

5. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.2000
R2 S2
1.2040
R3 S3
1.2074
R4
Commentary
S4
1.2122
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-
Time Frame: H1
EUR/USD: The euro trades marginally lower on Friday and trading around $1.1950 mark. Here
the RSI and triple EMA confirm the bearish trend. A sustained close below $1.1922 on a Day
Chart will check key supports and reversal from it will drag the parity back above $1.2000 mark.
Today German Factory orders data (0700 GMT) may bring some volatility in Euro Parity.
EUR / USD
1.1922
1.1900
1.1876
1.1840
FEBRUARY,
2
021
Buy Above 1.19900
1.20163
1.19607
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.19305
1.18727
1.19789
– Take Profit
– Stop Loss
Trade Idea
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50

6. BUY SELL
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Technical Summary
Trends Up Trend
Moving Average (Period=75A) Above MA
H 1
RSI (Period=26) Above RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1.2840
R2 S2
1.2882
R3 S3
1.2902
R4
Commentary
S4
1.2934
Buy Above 1.28469
1.28668
1.28183
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.28060
1.27849
1.28338
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The Canadian dollar trades marginally lower on Friday ahead of Canada’s
employment change data and remains well supported above 1.28 mark. On H1 chart, triple EMA
and RSI support the bullish trend but on a Day Chart triple EMA still suggests bearish trend. It
simply signifies short term trend reversal is likely. The key range for the day will be 1.2840 and
1.2775 mark. A sustained close of either side will only provide further direction of the parity.
USD /CAD
1.2775
1.2735
1.2690
1.2647
FEBRUARY,
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
105.94
R2 S2
106.26
R3 S3
106.50
R4
Commentary
S4
106.88
Buy Above 105.758
106.037
105.461
– Take Profit
– Stop Loss
Trade Idea
Sell Below 105.318
105.165
105.497
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/JPY: The Japanese yen continues to trade lower on Friday and breaks key resistance at
105.42 mark. Here the triple EMA as well as RSI confirm the uptrend for the time being. On the
top side, key resistance is seen at 105.94 mark. A sustained close above on a Day Chart requires
for the upside rally. Alternatively, reversal will check key supports too. Today Japan released
strong household spending data but Japanese yen fails to strengthen after it.
USD /JPY
104.90
104.22
103.60
102.92
FEBRUARY,
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
1808
R2 S2
1815
R3 S3
1822
R4
Commentary
S4
1827
Buy Above 1804.21
1809.72
1798.76
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1790.32
1783.04
1797.66
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold plunges drastically and touched $1,885 mark on robust U.S. economy
recovery. Throughout the week, U.S. has released key economic indicators with positive numbers
only. As a result, gold sinks below $1,800 mark. Today the key event for the day will be U.S. NFP
Employment Change data. The pair made intraday high at $1,797 and low at $1,792 mark. On a
Day Chart, both RSI and EMA signal the bearish trend. A consistent close above $1,808 on H1
chart may bring some upside rally. Alternatively, a sustained close below $1,785 will check further
key supports.
XAU [GOLD]
USD
/
1792
1785
1776
1768
FEBRUARY,
2
021

9. Thank
you!
Info@tpglobalfx.com
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