Daily Analysis Report February 11, 2021

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11 February, 2021
Daily Analysis Report

2. +1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Sterling strengthens sharply on economy recovery hope, Asian stock markets in green, gold slips below $1,840 mark
Key Headlines:
• Chinese banks will be closed for around 8 days in observance of the New Year and Spring Fes val.
• Japanese banks will be closed in observance of Na onal Founda on Day.
• South Korean banks will be closed in observance of the New Year.
• U.K. RICS house price balance stands at 50 pct vs 63 pct previous release (expected 60 pct).
• U.S. Federal budget balance stands at -162.8B vs -143.6B previous release.
• Australia MI infla on expecta on stands at 3.7 pct vs 3.4 pct previous release.
• U.S. President Joe Biden spoke to Chinese President Xi Jinping on Wednesday; U.S. plans to “new targeted restric ons” on certain sensi ve technology exports
to China.
• U.S. Fed Reserve Chair Jerome Powell put emphasis for na onal drive for full employment.
• U.S. Fed Reserve Chair Jerome Powell - Would require both “near-term policy and longer-run investments” to ensure anyone who wants a job can get one.
• Australia, New Zealand cancel tsunami warnings as threat from Pacific quake eases; A 7.7 magnitude undersea earthquake struck the South Pacific region on
Thursday – Reuters.
• India PM Narendra Modi - India would do its best to facilitate supplies of COVID vaccines sought by Canada.
• Italy's 5-Star movement reschedules online vote over former ECB Chief Mario Draghi, hoping for green light – Reuters.
Economic Data Ahead:
• (0700 GMT/1230 IST) German WPI, previous 0.6, expected 0.4.
• (1330 GMT/1900 IST) U.S. unemployment claims weekly, previous 779K, expected 755K.
Economic Events Ahead:
• (1000 GMT/1530 IST) EU Economic Forecasts.
• Tenta ve – Fed Monetary Policy Report.
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 90.38 points.

3. 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
0.7743
R2 S2
0.7799
R3 S3
0.7820
R4
Commentary
S4
0.7878
Buy Above 0.77429
0.77691
0.77058
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.77044
0.76776
0.77342
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
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-
Time Frame: H1
AUD/USD: The Aussie trades marginally higher and remains well supported above $0.77 mark.
Here triple EMA as well as RSI confirm the bullish trend in short run. The pair made intraday high
at $0.7738 and low at $0.7712 mark. A sustained close above $0.7740 on a Day chart requires for
the upside rally. On the bottom side, key hurdle is seen at $0.7690 mark.
0.7690
0.7638
0.7590
0.7522

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
1.3876
R2 S2
1.3900
R3 S3
1.3932
R4
Commentary
S4
1.3967
Buy Above 1.38632
1.39004
1.38259
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.38179
1.37955
1.38476
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The pound rises sharply and touches $1.3850 mark in Asian hours. The lawmakers in
U.K. are very hopeful for the economy recovery from the Covid effect. The technical tools like
EMA and RSI confirm the bullish trend on a Day as well as H1 chart. The key boundaries for the
parity will be $1.3876 to $1.3810 mark. A successful close of either side on a Day Chart will
provide further direction to the parity.
USD
1.3810
1.3750
1.3684
1.3637
FEBRUARY,
2
021
GBP/

5. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.2140
R2 S2
1.2170
R3 S3
1.2224
R4
Commentary
S4
1.2262
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-
Time Frame: H1
EUR/USD: The euro moves in rigid boundaries and stabilizes above $1.21 mark. On H1 chart,
pair supports the bullish trend but still a successful crossover of triple EMA above Day close is
required for the final confirmation. Today EU has scheduled to release Economic Forecast Report;
it may provide further direction to the parity. Key boundaries for the parity will be $1.2140 to
$1.2100 mark. A consistent break of either side on hourly chart will provide further directions to
the parity.
EUR / USD
1.2100
1.2044
1.1961
1.1900
FEBRUARY,
2
021
Buy Above 1.21430
1.21708
1.21087
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.21054
1.20828
1.21299
– Take Profit
– Stop Loss
Trade Idea
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50

6. 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
1.2710
R2 S2
1.2784
R3 S3
1.2850
R4
Commentary
S4
1.2902
Buy Above 1.27243
1.27535
1.26934
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.26778
1.26541
1.27080
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/CAD: The Canadian dollar rises gradually against U.S. dollar and consolidates around
1.2690 mark. Both RSI and triple EMA confirm the bearish trend on a Day as well as H1 chart. A
consistent close below 1.2690 requires for the downside rally. On the top side, a Day Close above
1.2710 will check further resistances.
USD /CAD
1.2690
1.2630
1.2600
1.2570
FEBRUARY,
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
104.77
R2 S2
105.20
R3 S3
105.68
R4
Commentary
S4
106.50
Buy Above 104.778
105.035
104.494
– Take Profit
– Stop Loss
Trade Idea
Sell Below 104.448
104.196
104.694
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY: The Japanese yen trades flat on Thursday as country is having holiday today. In the
absence of key fundamentals, we are not expecting high volatility today. On H1 chart, RSI and
triple EMA suggest downside trend but on a Day chart, triple EMA still supports bullish trend. The
parity will move in stiff boundaries for the time being.
USD /JPY
104.50
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
1848
R2 S2
1854
R3 S3
1862
R4
Commentary
S4
1870
Buy Above 1843.84
1851.04
1835.36
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1831.02
1823.95
1839.62
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold surpassed the key resistance at $1,848 mark and touched $1,855 in
previous session but failed to find support over there and slipped back below $1,840 mark. Today
pair made intraday high at $1,844 and low at $1,834 mark. On a Day Chart, triple EMA and RSI
confirm the bearish trend for the time being. One has to keep in mind key hurdles for both the
sides. The expected range for the parity will be $1,828 to $1,848 mark. A consistent close of either
side will provide further directions to the parity. Today no key fundamentals have scheduled from
the U.S. except Fed Monetary Policy Report and thus might bring high volatility in gold during U.S.
session
XAU [GOLD]
USD
/
1827
1820
1815
1807
FEBRUARY,
2
021

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