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Daily Forex Technical Analysis Report - August 04, 2020

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Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
04 August, 2020
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Aussie remains slightly vola le as RBA stands pat; Asian stock mark...
AUD / USD
REPORTFROM:TPGLOBALFXAUGUST,2020
Time Frame: H1
INDICATORS
Trends Down Trend
Moving Average (Period=75) Below MA...
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Daily Forex Technical Analysis Report - August 04, 2020

  1. 1. Daily Analysis Report +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 04 August, 2020
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Aussie remains slightly vola le as RBA stands pat; Asian stock markets in green; gold trade flat $1,975 mark Asian Headlines: • Aussie keeps interest rate unchanged at 0.25 pct. • Japan Tokyo core CPI stands at 0.4 pct vs 0.2 pct previous release (expected 0.2). • Japan Tokyo CPI stands at 0.6 pct vs 0.3 pct previous release. • Japan monetary base stands at 9.8 pct vs 6.0 pct previous release (expected 7.1). • Australia trade balance stands at 8.20B vs 7.34B previous release (expected 8.80B). • Australia retail sales stands at 2.7 pct vs 2.4 pct previous release (expected 2.4). • RBA – Outlook remains highly uncertain. • RBA - The recovery is expected to be only gradual and its shape is dependent on containment of the virus. • RBA - This accommoda ve approach will be maintained as long as it is required. • South Korea CPI y/y stands at 0.3 pct vs 0.0 pct previous release (expected 0.4). Economic Data Ahead: • (0145 ET/0545 GMT) Swiss SECO consumer climate, previous -39. • (0230 ET/0630 GMT) Australia commodity price, previous -11.4. • (0245 ET/0645 GMT) France budget balance, previous -117.9B. • (0300 ET/0700 GMT) Spain unemployment change, previous 5.1K. • (0500 ET/0900 GMT) Euro PPI, previous -0.6, expected 0.6 pct. • (0930 ET/1330 GMT) Canada manufacturing PMI, previous 47.8. • (1000 ET/1400 GMT) U.S. factory orders, previous 8.0, expected 5.1. Economic Events Ahead: • No key events scheduled for the day. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.16% to 93.50. USD/JPY: The Japanese yen trades marginally lower despite higher than expected CPI, core CPI data. A sustained close above 105.94 will take the parity higher towards key resistance around 106.22, 106.90, 107.92, 108.22, 108.54, 109.20 and 109.72 mark respec vely. On the other side, a consistent close below 105.94 will drag the parity down towards 104.72, 104.20, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie rises immediately a er RBA’s interest rate decision. The pair made intraday high at $0.7137 and low at $0.7105 marks. On the top side key resistances are seen at $0.7149, $0.7193, $0.7247, $0.7286 and $0.7344 mark respec vely. On the other hand, a consistent close below $0.7123 will take the parity down towards key supports around $0.7082, $0.7040, $0.6969, $0.6922, $0.6861, $0.6833 and $0.6799 mark respec vely. NZD/USD: The kiwi trades flat ahead of New Zealand’s job data due tomorrow. Pair made intraday high at $0.6624 and low at $0.6605 mark. Key resistances are seen at $0.6642, $0.6715, $0.6766, $0.6782 and $0.6824 mark respec vely. Alterna vely, a consistent close below $0.6612 will drag the parity down towards key supports around $0.6576, $0.6530, $0.6499, $0.6476, $0.6420, $0.6380, $0.6356, $0.6289, $0.6240 mark respec vely. USD/INR: The Indian rupee falls in opening hours and hovers around 75.00 mark. The pair made intraday high at 75.08 and low at 74.96. A sustained close below 75.02 marks will drag the parity down towards 74.37, 74.00, 73.76, 73.50, 73.42 and 73.26 mark respec vely. On the top side key resistances are seen at 75.12, 75.39, 75.52, 75.65, 76.24, 76.48 and 76.88 marks respec vely. EUR/USD: The euro fails to find support below $1.17 mark and currently trading around $1.1770 mark against U.S. dollar. The pair made intraday high at $1.1777 and low at $1.1752 mark. A sustained close above $1.1762 tests key resistances at $1.1846, $1.1909, $1.1948, $1.1976 and $1.1999 mark respec vely. On the other side, a sustained close below $1.1762 will target key supports around $1.1695, $1.1654, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The pound trades flat against U.S. dollar and stabilizes below $1.31 mark. A sustained close above $1.3094 will drag the parity up towards $1.3155, $1.3176 and $1.3212 mark respec vely. Key support levels are seen at $1.3054, $1.3004, $1.2950, $1.2838, $1.2775, $1.2717, $1.2661, $1.2510, $1.2457 and $1.2422 mark respec vely. Commodity Trend: XAU/USD (GOLD): Gold trades flat $1,975 mark. Today pair made intraday high at $1,978 and low at $1,971 mark. A sustained close above $1,975 requires for the upside rally. Alterna vely, reversal from key resistance will take the parity down towards key supports around $1,956, $1,947, $1,942, $1,931, $1,912, $1,907, $1,881 and $1,862 mark respec vely. Key resistances are seen at $1,994, $1,999, $2,005, $2,013 and $2,027 mark respec vely. XAG/USD (Silver): Silver moves in s ff boundaries against U.S. dollar and stabilizes above $24.00 mark. A sustained close above $24.60 requires for upside rally. Key support levels are seen at $24.02, $23.48, $23.24, $22.72, $22.38, $21.90, $21.50, $21.30 and $20.50 marks respec vely. Key resistances are seen at $25.11, $25.44, $25.62, $26.20, $26.48 and $26.72 marks respec vely.
  3. 3. AUD / USD REPORTFROM:TPGLOBALFXAUGUST,2020 Time Frame: H1 INDICATORS Trends Down Trend Moving Average (Period=75) Below MA H 1 RIS (Period=26) Below RIS LEVEL 50 FIBO Levels PIVOT R1 0.71443 S1 0.70879 Buy Above 0.71648 0.71847 0.70953 0.70953 0.70675 0.71648 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.71617 S2 0.70705 R3 0.71899 S3 0.70423 R4 0.72355 S4 0.69967 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.71161
  4. 4. EUR / USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS Trends Down Trend Moving Average (Period=75) Below MA H 1 RIS (Period=26) Below RIS LEVEL 50 FIBO Levels PIVOT R1 1.17871 S1 1.17101 Buy Above 1.18273 1.18613 1.17209 1.17209 1.16822 1.18273 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18110 S2 1.16862 R3 1.18495 S3 1.16477 R4 1.19119 S4 1.15853 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.17486 AUGUST,2020
  5. 5. GBP / USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS Trends Reversing Up Trend Moving Average (Period=75) Above MA H 1 RIS (Period=26) Above RIS LEVEL 50 FIBO Levels PIVOT R1 1.31021 S1 1.30197 Buy Above 1.31312 1.31634 1.30259 1.30259 1.29887 1.31312 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.31276 S2 1.29942 R3 1.31688 S3 1.29530 R4 1.32355 S4 1.28863 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.30609 AUGUST,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.34333 S1 1.33859 Buy Above 1.34381 1.34559 1.33708 1.33708 1.33458 1.34381 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.34479 S2 1.33713 R3 1.34716 S3 1.33476 R4 1.35099 S4 1.33093 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.34096 Trend Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 AUGUST,2020
  7. 7. USD /JPY REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 106.368 S1 105.688 Buy Above 106.469 106.828 105.390 105.390 105.092 106.469 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 106.579 S2 105.477 R3 106.919 S3 105.137 R4 107.470 S4 104.586 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 106.028 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 AUGUST,2020
  8. 8. XAU / [GOLD]USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1985.12 S1 1964.30 Buy Above 1981.06 1993.30 1955.96 1955.96 1945.61 1981.06 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1991.54 S2 1957.88 R3 2001.95 S3 1947.47 R4 S4 1930.64 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1974.71 Trends Reversing Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 2018.78 AUGUST,2020
  9. 9. Thank you! Info@tpglobalfx.com www.tpglobalfx.com REPORTFROM:TPGLOBALFX /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

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