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DAILY ANALYSIS REPORT MAY 05 2021

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DAILY ANALYSIS REPORT MAY 05 2021

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05 May , 2021
Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Euro weakens ahead of EU Economic Forecasts, Asian stock markets mixed; gold slips below $1,780 mark, Markets eye U.S. ADP Job Results
Key Headlines:
• South Korea, Japan and China banks will remain closed for the day.
• Australia AIG construc on index stands at 59.1 vs 61.8 previous release.
• New Zealand Employment change remains unchanged at 0.6 pct (expected 0.3).
• New Zealand unemployment rate stands at 4.7 pct vs 4.9 pct previous release (expected 4.9).
• New Zealand NZ commodity prices stand at 2.3 pct vs 6.1 pct previous release.
• Australia building approvals stand at 17.4 vs 20.1 previous release (expected 2.9).
• Hong Kong manufacturing PMI stands at 50.3 vs 50.5 previous release.
Economic Data Ahead:
• (0700 GMT/1230 IST) Spain unemployment change, previous -59.1K, expected -70.0K.
• (0715 GMT/1245 IST) Spain Services PMI, previous 48.1, expected 50.0.
• (0745 GMT/1315 IST) Italy services PMI, previous 48.6, expected 50.0.
• (0750 GMT/1320 IST) France Services PMI, previous 50.4, expected 50.4.
• (0755 GMT/1325 IST) German Final Services PMI, previous 50.1, expected 50.1.
• (0800 GMT/1330 IST) Euro Final Services PMI, previous 50.3, expected 50.3.
• (0900 GMT/1430 IST) Euro PPI, previous 0.5, expected 1.1.
• (1215 GMT/1745 IST) U.S. ADP Job Results, previous 517K, expected 872K.
• (1345 GMT/1915 IST) U.S. Final Services PMI, previous 63.1, expected 63.1.
• (1400 GMT/1930 IST) U.S. ISM Services PMI, previous 63.7, expected 64.2.
Economic Events Ahead:
• Tenta ve – EU Economic Forecasts.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.08% to 91.22 points.
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 0.7742
0.7765
0.7710
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.7702
0.7678
0.7730
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
AUD/USD: The Aussie enjoys roller coaster movement after RBA’s cash rate decision. Today
Aussie strengthens and stabilizes above $0.77 mark. The pair made intraday high at $0.7737 and
low at $0.7704 mark. A day chart confirms up trend in long run while on H1 chart triple EMA
confirms bearish trend in short run. A sustained close above $0.7750 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
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
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
EUR/USD: The euro appreciates against U.S. dollar and stabilizes above $1.2000 mark. Today
pair made intraday high at $1.2026 and low at $1.2008. Today triple EMA on a day chart is up
while H1 chart confirms down trend for the time being. A consistent close above $1.2040 on H1
chart requires for the upside rally. Alternatively, a sustained close below $1.2001 on H1 will check
further supports.
EUR / USD
1.2001
1.1976
1.1948
1.1920
Buy Above 1.2030
1.2058
1.2003
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.1996
1.1973
1.2025
– 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
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 1.3915
1.3950
1.3890
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.3870
1.3840
1.3906
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The pound appreciates on Wednesday and consolidates around $1.3900 mark. The
pair made intraday high at $1.3914 and low at $1.3882 mark. Today a day chart and H1 chart with
triple EMA confirm bullish trend but current downside movement is short term trend correction
only. A sustained close above $1.3927 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 Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
MAY,
2
021
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
1.2315
R2 S2
1.2343
R3 S3
1.2371
R4
Commentary
S4
1.2392
Buy Above 1.2310
1.2337
1.2285
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2280
1.2256
1.2310
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The Canadian dollar strengthens gradually against U.S. dollar and remains well
supported below 1.23 mark. Today pair made intraday high at 1.2312 and low at 1.2283 mark. A
day chart and H1 chart with Triple EMA confirm bearish trend for the time being. A sustained close
above 1.2315 on H1 chart requires for the upside rally. Alternatively, a consistent close below
1.2270 on H1 chart will check key supports too.
USD /CAD
1.2270
1.2255
1.2210
1.2178
MAY,
2
021
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DAILY ANALYSIS REPORT MAY 05 2021

  • 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 05 May , 2021 Daily Analysis Report
  • 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Euro weakens ahead of EU Economic Forecasts, Asian stock markets mixed; gold slips below $1,780 mark, Markets eye U.S. ADP Job Results Key Headlines: • South Korea, Japan and China banks will remain closed for the day. • Australia AIG construc on index stands at 59.1 vs 61.8 previous release. • New Zealand Employment change remains unchanged at 0.6 pct (expected 0.3). • New Zealand unemployment rate stands at 4.7 pct vs 4.9 pct previous release (expected 4.9). • New Zealand NZ commodity prices stand at 2.3 pct vs 6.1 pct previous release. • Australia building approvals stand at 17.4 vs 20.1 previous release (expected 2.9). • Hong Kong manufacturing PMI stands at 50.3 vs 50.5 previous release. Economic Data Ahead: • (0700 GMT/1230 IST) Spain unemployment change, previous -59.1K, expected -70.0K. • (0715 GMT/1245 IST) Spain Services PMI, previous 48.1, expected 50.0. • (0745 GMT/1315 IST) Italy services PMI, previous 48.6, expected 50.0. • (0750 GMT/1320 IST) France Services PMI, previous 50.4, expected 50.4. • (0755 GMT/1325 IST) German Final Services PMI, previous 50.1, expected 50.1. • (0800 GMT/1330 IST) Euro Final Services PMI, previous 50.3, expected 50.3. • (0900 GMT/1430 IST) Euro PPI, previous 0.5, expected 1.1. • (1215 GMT/1745 IST) U.S. ADP Job Results, previous 517K, expected 872K. • (1345 GMT/1915 IST) U.S. Final Services PMI, previous 63.1, expected 63.1. • (1400 GMT/1930 IST) U.S. ISM Services PMI, previous 63.7, expected 64.2. Economic Events Ahead: • Tenta ve – EU Economic Forecasts. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.08% to 91.22 points.
  • 3. AUD / USD BUY SELL R E P O R T F R O M : T P G LO B A L F X 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 0.7742 0.7765 0.7710 – Take Profit – Stop Loss Trade Idea Sell Below 0.7702 0.7678 0.7730 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 AUD/USD: The Aussie enjoys roller coaster movement after RBA’s cash rate decision. Today Aussie strengthens and stabilizes above $0.77 mark. The pair made intraday high at $0.7737 and low at $0.7704 mark. A day chart confirms up trend in long run while on H1 chart triple EMA confirms bearish trend in short run. A sustained close above $0.7750 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 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 1.2040 R2 S2 1.2067 R3 S3 1.2098 R4 Commentary S4 1.2122 +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 EUR/USD: The euro appreciates against U.S. dollar and stabilizes above $1.2000 mark. Today pair made intraday high at $1.2026 and low at $1.2008. Today triple EMA on a day chart is up while H1 chart confirms down trend for the time being. A consistent close above $1.2040 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2001 on H1 will check further supports. EUR / USD 1.2001 1.1976 1.1948 1.1920 Buy Above 1.2030 1.2058 1.2003 – Take Profit – Stop Loss Trade Idea Sell Below 1.1996 1.1973 1.2025 – 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 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 1.3927 R2 S2 1.3954 R3 S3 1.3978 R4 Commentary S4 1.4001 Buy Above 1.3915 1.3950 1.3890 – Take Profit – Stop Loss Trade Idea Sell Below 1.3870 1.3840 1.3906 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 GBP/USD: The pound appreciates on Wednesday and consolidates around $1.3900 mark. The pair made intraday high at $1.3914 and low at $1.3882 mark. Today a day chart and H1 chart with triple EMA confirm bullish trend but current downside movement is short term trend correction only. A sustained close above $1.3927 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 Down Trend Moving Average (Period=75) Below MA RSI (Period=26) Below RSI LEVEL 50 MAY, 2 021
  • 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 Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 S1 1.2315 R2 S2 1.2343 R3 S3 1.2371 R4 Commentary S4 1.2392 Buy Above 1.2310 1.2337 1.2285 – Take Profit – Stop Loss Trade Idea Sell Below 1.2280 1.2256 1.2310 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/CAD: The Canadian dollar strengthens gradually against U.S. dollar and remains well supported below 1.23 mark. Today pair made intraday high at 1.2312 and low at 1.2283 mark. A day chart and H1 chart with Triple EMA confirm bearish trend for the time being. A sustained close above 1.2315 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2270 on H1 chart will check key supports too. USD /CAD 1.2270 1.2255 1.2210 1.2178 MAY, 2 021
  • 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 109.35 R2 S2 109.61 R3 S3 109.82 R4 Commentary S4 110.22 Buy Above 109.40 109.65 109.15 – Take Profit – Stop Loss Trade Idea Sell Below 109.00 108.77 109.35 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/JPY: The Japanese yen rises slightly on Wednesday and hovers around 109.20 mark. The pair made intraday high at 109.37 and low at 109.20 mark. The triple EMA on a day chart and H1 chart confirm bullish trend for the time being. A sustained close above 109.35 on H1 chart requires for the upside rally. Alternatively, a consistent close below 108.93 on H1 will check further key supports. USD /JPY 108.93 108.65 108.40 108.22 MAY, 2 021
  • 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 1784 R2 S2 1789 R3 S3 1794 R4 Commentary S4 1799 Buy Above 1784 1791 1777 – Take Profit – Stop Loss Trade Idea Sell Below 1768 1763 1775 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 XAU/USD (GOLD): Gold remains volatile on Wednesday ahead of U.S.’s ADP Job Results and ISM services PMI data. Today pair made intraday high at $1,783 and low $1,776 mark. A day chart is bullish but H1 chart is confirming down trend for the time being. A sustained close above $1,782 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,774 will check further supports. Later today, U.S. will release factory orders data. XAU [GOLD] USD / 1774 1768 1762 1756 MAY, 2 021
  • 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