DAILY ANALYSIS REPORT JULY 06 2022

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06 July 2022
Daily Analysis Report

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Asian Bulle n: U.S. dollar strengthened extremely across the board as DXY hit fresh 20 – year high; most Asian stock markets in red, gold back below $1,770 mark
Key Headlines:
• U.S. stock index futures fell on Tuesday, with investors weighing the possibility of an economic recession as central banks across the world take aggressive ac ons to contain a surge
in infla on – Reuters.
• Zimbabwe's central bank said it would start selling gold coins this month as a store of value to tame runaway infla on, which has considerably weakened the local currency –
Reuters.
• Recession worries and consumer belt ghtening have hit demand for electronic goods, which is feeding through to weaker consump on of soldering metal n, but output cuts mean
the market is likely to be balanced this year – Reuters.
• Hong Kong's stock exchange said on Tuesday it had enlisted banks including HSBC and companies such as China's Tencent to help it develop a global carbon market – Reuters.
• More G10 central banks raised interest rates in June than in any month for at least two decades, Reuters calcula ons showed, and with infla on at mul -decade highs, the pace of
policy- ghtening is unlikely to let up in the second half of 2022 – Reuters.
• EU lawmakers gave the thumbs up on Tuesday to landmark rules to rein in the power of tech giants such as Alphabet unit Google, Amazon , Apple , Facebook and Microso , but
enforcing them could be an issue due to regulators' limited resources – Reuters.
• More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domes c fuel prices were exported to Europe and Asia last
month, according to data and sources, even as U.S. gasoline and diesel prices touched record highs – Reuters.
• The euro sank to its weakest since late 2002 versus the dollar on Tuesday, as a jump in natural gas prices reignited worries about the euro zone economy and data showed business
growth in the region slowed sharply in June – Reuters.
• Emira digital banking start-up Zand, which provides retail and corporate services, said on Tuesday it had been granted a banking licence from the Central Bank of the United Arab
Emirates – Reuters.
• Tether, the world's largest stablecoin, said on Friday it had cut its commercial paper holdings by around 58% as part of an earlier commitment to reduce its exposure to riskier assets
– Reuters.
• The fast-spreading BA.4 and BA.5 sub-lineages of Omicron are es mated to make up a combined 70.1% of the coronavirus variants in the United States as of July 2, the U.S. Centers
for Disease Control and Preven on said on Tuesday – Reuters.
• Bri sh Health Secretary Sajid Javid resigned on Tuesday, plunging Prime Minister Boris Johnson's government into crisis – Reuters.
• Italy reported 132,274 COVID-19 cases on Tuesday, health ministry official figures showed, surpassing 100,000 for the first me since Feb. 8 – Reuters.
Key Economic Indicators Ahead :
• (0830 GMT/1400 IST) U.K. Construc on PMI, previous 56.4, expected 54.9.
• (0900 GMT/1430 IST) EU Retail sales, previous -1.3, expected 0.4.
• (1345 GMT/1915 IST) U.S. Final Services PMI, previous 51.6, expected 51.6.
• (1400 GMT/1930 IST) U.S. ISM Services PMI, previous 55.9, expected 53.9.
• (1400 GMT/1930 IST) U.S. JOLTS Job Openings, previous 11.40M, expected 11.05M.
Economic Events Ahead:
• (0900 GMT/1430 IST) EU Economic Forecasts.
• (1300 GMT/1830 IST) U.S. FOMC member Williams speaks.
• (1800 GMT/2330 IST) U.S. FOMC Mee ng Minutes.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.08 pct to 106.45 points.

3. AUD / USD
BUY SELL
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Technical Summary
Trend Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
0.6822
R2 S2
0.6850
R3 S3
0.6874
R4
Commentary
S4
0.6899
Buy Above 0.6822
0.6848
0.6799
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.6790
0.6762
0.6815
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie depreciated sharply in previous session after RBA’s Policy Rate statement
and robust U.S. dollar. Today pair made intraday high at $0.6819 and low at $0.6788 mark.Aday chart
and H1 chart with triple EMAsuggest down trend for the time being.Asustained close above $0.6822
on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.6790 will check
further supports.
0.6790
0.6767
0.6750
0.6718
JULY,
2022

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.0290
R2 S2
1.0318
R3 S3
1.0344
R4
Commentary
S4
1.0365
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-
Time Frame: H1
EUR/USD: The euro hit lowest level since Dec 2002 and touched $1.0235 mark in previous session.
Today the pair made intraday high at $1.0271 and low at $1.0253 mark. Today triple EMA on a day
chart and H1 chart suggest bearish trend for the time being. A consistent close above $1.0290 on H1
chart requires for the upside rally. Alternatively, a sustained close below $1.0240 on H1 chart will
check further supports. Traders eye EU Economic Forecasts and Retail Sales data for the further
directions.
EUR / USD
1.0240
1.0212
1.0191
1.0172
Buy Above 1.0290
1.0327
1.0262
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.0240
1.0211
1.0275
– Take Profit
– Stop Loss
Trade Idea
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
JULY,
2022

5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.2000
R2 S2
1.2022
R3 S3
1.2040
R4
Commentary
S4
1.2072
Buy Above 1.2000
1.2033
1.1973
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.1940
1.1904
1.1973
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The sterling trades almost flat on Wednesday ahead of U.K.’s Construction PMI data and
hovers around $1.1950 mark. Pair hit lowest level since March 2020 in previous session. Today pair
made intraday high at $1.1971 and low at $1.1941 mark. A day chart and H1 chart with triple EMA
suggest down trend for the time being. A sustained close above $1.2000 on H1 chart will check key
resistances.Alternatively, a consistent close below $1.1940 will check further supports.
USD
1.1940
1.1918
1.1901
1.1878
GBP/
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
JULY,
2022

6. 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
1.3055
R2 S2
1.3072
R3 S3
1.3090
R4
Commentary
S4
1.3115
Buy Above 1.3055
1.3092
1.3022
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.3021
1.2991
1.3050
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/CAD: The CAD fell sharply in previous session and hit lowest level since Nov 2020. Today the
pair made intraday high at 1.3044 and low at 1.3014 mark. Today a day chart and H1 chart with triple
EMAsuggest bullish trend for the time being.Asustained close above 1.3055 on H1 chart requires for
the upside rally.Alternatively, a consistent close below 1.2990 on H1 chart will check key supports too.
USD /CAD
1.2990
1.2965
1.2950
1.2921
JULY,
2022

7. BUY SELL
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Technical Summary
Trend Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
135.55
R2 S2
135.78
R3 S3
135.99
R4
Commentary
S4
136.22
Buy Above 135.55
135.80
135.20
– Take Profit
– Stop Loss
Trade Idea
Sell Below 135.10
134.81
135.40
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/JPY: The Japanese yen was the only currency which strengthened in previous session against
U.S. dollar and currently trading around 135.30 mark. The pair made intraday high at 135.87 and low
at 135.12 mark. The triple EMA on a day chart is up and H1 chart suggests down trend for the time
being. A sustained close above 135.55 on H1 chart requires for the upside rally. Alternatively, a
consistent close below 135.10 on H1 chart will check further key supports.
USD /JPY
135.10
134.80
134.65
134.50
JULY,
2022

8. BUY SELL
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Technical Summary
Trend Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1778
R2 S2
1784
R3 S3
1789
R4
Commentary
S4
1794
Buy Above 1774
1780
1768
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1760
1751
1766
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold gave $49 downside movement on robust U.S. dollar and DXY index data.
Today the pair made intraday high at $1,772 and low at $1,764 mark. A day chart and H1 chart with
triple EMA suggest down trend for the time being. A sustained close above $1,778 on H1 chart
requires for the upside rally.Alternatively, a consistent close below $1,760 on H1 chart will test further
supports. Later today U.S. ISM Services PMI and FOMC Meeting Minute data will remain in focus.
XAU [GOLD]
USD
/
1758
1752
1746
1741
JULY,
2022

9. Thank
you!
Info@tpglobalfx.com
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