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Daily Forex Technical Analysis Report - August 05, 2020

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Let's review all the major instrument analysis including: #AUDUSD, #EURUSD, #GBPUSD, #USDCAD, #USDJPY and #GOLD.

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Daily Forex Technical Analysis Report - August 05, 2020

  1. 1. Daily Analysis Report +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 05 August, 2020
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: New Zealand dollar strengthens on robust job data; gold hits historical high at $2,031 mark; Asian stock markets mixed Asian Headlines: • Australia AIG construc on index stands at 42.7 vs 35.5 previous release. • New Zealand employment change q/q stands at -0.4 pct vs 1.0 pct previous release (expected -2.0). • New Zealand unemployment rate stands at 4.0 pct vs 4.2 pct previous release (expected 5.6). • China Caixin services PMI stands at 54.3 vs 58.4 previous release (expected 58.0). Economic Data Ahead: • (0315 ET/0715 GMT) Spanish services PMI, previous 50.2, expected 52.3. • (0345 ET/0745 GMT) Italian services PMI, previous 46.4, expected 51.2. • (0350 ET/0750 GMT) France services PMI, previous 57.8, expected 57.8. • (0355 ET/0755 GMT) German services OMI, previous 56.7, expected 56.7. • (0400 ET/0800 GMT) Euro services PMI, previous 55.1, expected 55.1. • (0430 ET/0830 GMT) U.K. services PMI, previous 56.6, expected 56.6. • (0500 ET/0900 GMT) Euro retail sales, previous 17.8 pct, expected 6.5 pct. • (0815 ET/1215 GMT) U.S. ADP job data, previous 2369K, expected 1200K. • (0830 ET/1230 GMT) Canada trade balance, previous -0.7B, expected -0.6B. • (0830 ET/1230 GMT) U.S. trade balance, previous -54.6B, expected -50.3B. • (0945 ET/1345 GMT) U.S. services PMI, previous 49.6, expected 49.6. • (1000 ET/1400 GMT) U.S. ISM non manufacturing PMI, previous 57.1, expected 55.0. Economic Events Ahead: • (0800 ET/1200 GMT) BoJ Governor Kuroda’s speech. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.28% to 93.12. USD/JPY: The Japanese yen trades marginally higher against U.S. dollar and slips back below 106.00 mark. A sustained close above 105.70 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 105.70 will drag the parity down towards 105.10, 104.72, 104.20, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie rises on robust AIG construc on index data. The pair made intraday high at $0.7190 and low at $0.7153 marks. On the top side key resistances are seen at $0.7193, $0.7247, $0.7286 and $0.7344 mark respec vely. On the other hand, a consistent close below $0.7158 will take the parity down towards key supports around $0.7123, $0.7082, $0.7040, $0.6969, $0.6922, $0.6861, $0.6833 and $0.6799 mark respec vely. NZD/USD: The kiwi strengthens on higher than expected job data and lower unemployment rate as well. Pair made intraday high at $0.6649 and low at $0.6613 mark. Key resistances are seen at $0.6689, $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 trades marginally higher in opening hours and stabilizes below 75.00 mark. The pair made intraday high at 74.89 and low at 74.72. A sustained close below 74.89 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 trades flat ahead of services PMI data and remains well supported above $1.18 mark against U.S. dollar. The pair made intraday high at $1.1821 and low at $1.1792 mark. A sustained close above $1.1802 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 moves in rigid boundaries against U.S. dollar and consolidates around $1.3070 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 touches historical high at $2,031 in early Asia. Today pair made intraday high at $2,031 and low at $2,009 mark. A sustained close above $2,019 requires for the upside rally. Alterna vely, reversal from key resistance will take the parity down towards key supports around $1,987, $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 $2,031, $2,054, $2,062, $2,071 and $2,082 mark respec vely. XAG/USD (Silver): Silver touches $26.32 mark, hits highest level since April 2013. A sustained close above $26.00 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 $26.32, $26.48 and $26.72 marks respec vely.
  3. 3. AUD / USD REPORTFROM:TPGLOBALFXAUGUST,2020 Time Frame: H1 INDICATORS Trends Up Trend Moving Average (Period=75) Above MA H 1 RIS (Period=26) Above RIS LEVEL 50 FIBO Levels PIVOT R1 0.71673 S1 0.71205 Buy Above 0.72041 0.72198 0.71394 0.71394 0.71191 0.72041 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.71817 S2 0.71061 R3 0.72051 S3 0.70827 R4 0.72429 S4 0.70449 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.71439
  4. 4. EUR / USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS Trends Up Trend Moving Average (Period=75) Above MA H 1 RIS (Period=26) Above RIS LEVEL 50 FIBO Levels PIVOT R1 1.18086 S1 1.17436 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 1.18286 S2 1.17236 R3 1.18611 S3 1.16911 R4 1.19136 S4 1.16386 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.17761 AUGUST,2020
  5. 5. GBP / USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS Trends Up Trend Moving Average (Period=75) Above MA H 1 RIS (Period=26) Above RIS LEVEL 50 FIBO Levels PIVOT R1 1.31014 S1 1.30048 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 1.31313 S2 1.29749 R3 1.31796 S3 1.29266 R4 1.32578 S4 1.28484 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.30531 AUGUST,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.33911 S1 1.33127 Buy Above 1.33293 1.33629 1.32604 1.32604 1.32119 1.33293 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.34152 S2 1.32886 R3 1.34544 S3 1.32494 R4 1.35177 S4 1.31861 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.33519 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 106.055 S1 105.629 Buy Above 106.053 106.250 105.390 105.390 105.092 106.053 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 106.186 S2 105.498 R3 106.399 S3 105.285 R4 106.743 S4 104.941 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 105.842 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 AUGUST,2020
  8. 8. XAU / [GOLD]USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 2022.01 S1 1981.27 Buy Above 2025.02 2030.52 1991.65 1991.65 1986.15 2025.02 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 2034.60 S2 1968.68 R3 2054.97 S3 1948.31 R4 S4 1915.35 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 2001.64 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 2087.93 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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