DAILY ANALYSIS REPORT JULY 21 2022

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21 July 2022
Daily Analysis Report

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Asian Bulle n: Japanese yen strengthens slightly a er BoJ’s Policy Rate Decision, Asian stock markets mixed, gold slips below $1,700 mark
Key Headlines:
• BoJ keeps interest rate unchanged at -0.10 pct.
• New Zealand Trade Balance stands at -701M vs 195M previous release.
• Japan Trade Balance stands at -1.93T vs -1.89T previous release.
• Australia NAB Quarterly Business Confidence stands at 5 vs 15 previous release.
• BoJ - The Bank will apply a nega ve interest rate of minus 0.1 percent to the Policy-Rate Balances in current accounts held by financial ins tu ons at the Bank.
• BoJ - The Bank will purchase a necessary amount of Japanese government bonds (JGBs) without se ng an upper limit so that 10-year JGB yields will remain at around zero percent.
• BoJ - The Bank will purchase exchange-traded funds (ETFs) and Japan real estate investment trusts (J-REITs) as necessary with upper limits of about 12 trillion yen and about 180
billion yen, respec vely, on annual paces of increase in their amounts outstanding.
• BoJ - The Bank will con nue with Quan ta ve and Qualita ve Monetary Easing (QQE) with Yield Curve Control, aiming to achieve the price stability target of 2 percent, as long as it
is necessary for maintaining that target in a stable manner.
• BoJ - Will not hesitate to take addi onal easing measures if necessary; it also expects short- and long-term policy interest rates to remain at their present or lower levels.
• U.S. President Joe Biden said he expects to speak with Chinese President Xi Jinping by the end of the month. He did not elaborate on reasons for the call or planned topics of
discussion – CNBC.
• Debt-laden Italy finds itself in markets' crosshairs again, as the prospect of a collapse in its na onal unity government coincides with the European Central Bank preparing to deliver
its first interest rate rise in 11 years – Reuters.
• Abbo Laboratories on Wednesday raised its annual earnings forecast as demand for its medical devices and diagnos cs products helped cushion the impact of a shutdown of its
baby formula plant – Reuters.
• Nasdaq Inc posted a 10% drop in second-quarter profit on Wednesday hit by expenses, even as revenue saw an up ck as traders turned to investment-related products to beat
market vola lity – Reuters.
• Russia's central bank has proposed banning Russians with holdings worth less than $550,000 from buying foreign shares, as a step to protect investors a er Western sanc ons le
them with billions of dollars in frozen accounts – Reuters.
• Credit Suisse has signed an alliance agreement with Corporacion Ac nver to develop their wealth management businesses in Mexico, the Swiss bank said on Wednesday – Reuters.
• One of Goldman Sachs' most senior bankers in Asia, Todd Leland, is leaving the region to become the president of Goldman Sachs Interna onal, according to a memo seen by
Reuters – Reuters.
• The CAF-Development Bank of La n America said on Tuesday it has approved $1.65 billion in financing for Argen na, Brazil, Paraguay, Peru and Trinidad and Tobago, and the funding
rounds will be carried out in seven opera ons – Reuters.
• European na ons must accelerate vaccine uptake and bring back mask wearing to tackle a surge in COVID-19 cases driven by an Omicron offshoot and avoid stricter measures later
in the year, a senior World Health Organiza on official said on Tuesday – Reuters.
• Australians admi ed to hospitals from COVID-19 neared record levels on Wednesday as authori es urged businesses to let staff work from home and recommended people wear
masks indoors and get booster shots urgently amid a major coronavirus outbreak. Australians admi ed to hospitals from COVID-19 neared record levels on Wednesday as
authori es urged businesses to let staff work from home and recommended people wear masks indoors and get booster shots urgently amid a major coronavirus outbreak –
Reuters.
• The U.S. Jus ce Department unveiled a $1.2 billion healthcare fraud crackdown on Wednesday, revealing criminal charges against 36 defendants for alleged fraudulent billing
schemes ed to telemedicine, gene c and cardiovascular tes ng, and equipment – Reuters.
• A Japanese health ministry panel on Wednesday delayed emergency approval for an oral treatment against COVID-19 that has been developed by Shionogi & Co – Reuters.
• Nine months a er the world's first malaria vaccine was recommended for use, interna onal vaccine alliance Gavi invited countries to apply for financial support to roll out the jab,
par cularly targe ng young children in Africa – Reuters.
• The World Health Organiza on (WHO) has confirmed 14,000 cases of monkeypox worldwide, with five deaths reported in Africa, Director General Tedros Adhanom Ghebreyesus said
on Wednesday – Reuters.
• The United States on Wednesday condemned a shelling that killed civilians in the northern Dohuk region of Iraq, the State Department said in a statement – Reuters.
• Ukrainian President Volodymyr Zelenskiy on Wednesday dismissed as inadequate a seventh round of European Union sanc ons against Russia, which is currently being finalized –
Reuters.
Key Economic Indicators Ahead
• (1215 GMT/1745 IST) ECB Interest Rate Decision, previous 0.00, expected 0.25.
• (1230 GMT/1800 IST) U.S. Philly Fed Manufacturing Index, previous -3.3, expected 1.1.
• (1230 GMT/1800 IST) U.S. Unemployment Claims weekly, previous 244K, expected 240K.
Economic Events Ahead:
• (1245 GMT/1815 IST) ECB Press Conference.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.19 pct to 106.87 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
0.6904
R2 S2
0.6930
R3 S3
0.6957
R4
Commentary
S4
0.6976
Buy Above 0.6905
0.6930
0.6880
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.6872
0.6850
0.6900
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie trades almost flat on Thursday and hovers around $0.6900 mark. Today pair
made intraday high at $0.6898 and low at $0.6879 mark. A day chart is down and H1 chart with triple
EMA suggests up trend for the time being. A sustained close above $0.6904 on H1 chart requires for
the upside rally.Alternatively, a consistent close below $0.6872 will check further supports.
0.6872
0.6855
0.6822
0.6800
JULY,
2022

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.0230
R2 S2
1.0265
R3 S3
1.0290
R4
Commentary
S4
1.0315
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-
Time Frame: H1
EUR/USD: The euro trades marginally higher on Thursday ahead of ECB’s Interest Rate Decision
due at 1215 GMT. Today the pair made intraday high at $1.0213 and low at $1.0173 mark. Today triple
EMA on a day chart and H1 chart suggest bearish trend for the time being. A consistent close above
$1.0230 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.0172 on
H1 chart will check further supports.
EUR / USD
1.0172
1.0150
1.0122
1.0100
Buy Above 1.0230
1.0262
1.0202
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.0172
1.0130
1.0205
– 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
1.2005
R2 S2
1.2030
R3 S3
1.2055
R4
Commentary
S4
1.2076
Buy Above 1.2005
1.2032
1.1982
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.1962
1.1932
1.1990
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The sterling fell in previous session after robust CPI readings and currently stabilizes
below $1.2000 mark. Today pair made intraday high at $1.1992 and low at $1.1958 mark.Aday chart
is down and H1 chart with triple EMA suggests up trend for the time being. A sustained close above
$1.2005 on H1 chart will check key resistances. Alternatively, a consistent close below $1.1957 will
check further supports.
USD
1.1957
1.1922
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 Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26 Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1.2904
R2 S2
1.2930
R3 S3
1.2955
R4
Commentary
S4
1.2976
Buy Above 1.2890
1.2922
1.2860
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2850
1.2821
1.2876
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/CAD: The CAD exhibits range bound movement and consolidates around 1.2875 mark. Today
the pair made intraday high at 1.2896 and low at 1.2865 mark. Today a day chart is up and H1 chart
with triple EMAsuggests bearish trend for the time being.Asustained close above 1.2904 on H1 chart
requires for the upside rally. Alternatively, a consistent close below 1.2850 on H1 chart will check key
supports too. Canada’s CPI data will remain in focus.
USD /CAD
1.2850
1.2821
1.2800
1.2781
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
138.55
R2 S2
138.72
R3 S3
138.90
R4
Commentary
S4
139.15
Buy Above 138.55
138.90
138.20
– Take Profit
– Stop Loss
Trade Idea
Sell Below 137.91
137.51
138.26
– Take Profit
– Stop Loss
Trade Idea
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Time Frame: H1
USD/JPY: The Japanese yen remains volatile immediately after BoJ’s Interest Rate Decision and
currently hovers around 138.30 mark. The pair made intraday high at 138.55 and low at 137.98 mark.
The triple EMA on a day chart and H1 chart suggest up trend for the time being. A sustained close
above 138.50 on H1 chart requires for the upside rally. Alternatively, a consistent close below 137.87
on H1 chart will check further key supports.
USD /JPY
137.87
137.65
137.48
137.15
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
1702
R2 S2
1708
R3 S3
1714
R4
Commentary
S4
1720
Buy Above 1698
1704
1691
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1688
1681
1694
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
XAU/USD (GOLD): Gold spiked down sharply in previous session and touched $1,690 mark. Today
the pair made intraday high at $1,695 and low at $1,691 mark. Today a day chart and H1 chart with
triple EMA suggest bearish trend for the time being. A sustained close above $1,702 on H1 chart
requires for the upside rally.Alternatively, a consistent close below $1,690 on H1 chart will test further
supports. Later today U.S. Philly Fed Manufacturing Index data will provide further directions to the
parity
XAU [GOLD]
USD
/
1686
1682
1676
1671
JULY,
2022

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you!
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