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Daily Forex Technical Analysis Report - August 06, 2020

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Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
06 August, 2020
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: New Zealand dollar remains almost unchanged a er infla on expecta on...
AUD / USD
REPORTFROM:TPGLOBALFXAUGUST,2020
Time Frame: H1
INDICATORS
Trends Up Trend
Moving Average (Period=75) Above MA
H...
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Daily Forex Technical Analysis Report - August 06, 2020

  1. 1. Daily Analysis Report +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 06 August, 2020
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: New Zealand dollar remains almost unchanged a er infla on expecta ons data, Asian stock markets mixed, gold up Asian Headlines: • New Zealand infla on expecta ons q/q stands at 1.43 pct vs 1.24 pct previous release. • South Korea current account stands at 6.88B vs 2.29B previous release. • Brazil cut interest rate to 2.00 pct vs 2.25 pct previous release. Economic Data Ahead: • (0400 ET/0800 GMT) Italy industrial produc on, previous 42.1, expected 5.6. • (0430 ET/0830 GMT) U.K. construc on PMI, previous 55.3, expected 57.0. • (0730 ET/1130 GMT) U.S. Challenger job cuts, previous 305.5 pct. • (0830 ET/1230 GMT) U.S. unemployment claims weekly, previous 1434K, expected 1410K. Economic Events Ahead: • (0730 ET/1130 GMT) U.K. BOE Governor Bailey’s speech. • (1000 ET/1400 GMT) U.S. FOMC member Kaplan’s speech. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.15% to 92.73. USD/JPY: The Japanese yen rises gradually against U.S. dollar and hovers around 105.50 mark. A sustained close above 105.60 will take the parity higher towards key resistance around 105.87, 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 105.60 will drag the parity down towards 105.10, 104.72, 104.20, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie trades flat and hovers around $0.72 mark. The pair made intraday high at $0.7212 and low at $0.7183 marks. On the top side key resistances are seen at $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 $0.7190, $0.7123, $0.7082, $0.7040, $0.6969, $0.6922, $0.6861, $0.6833 and $0.6799 mark respec vely. NZD/USD: The kiwi remains almost unchanged a er infla on expecta ons data. Pair made intraday high at $0.6658 and low at $0.6628 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 in rigid boundaries ahead of RBI’s interest rate decision. The pair made intraday high at 74.76 and low at 74.61. A sustained close below 74.72 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 rises no ceably against U.S. dollar and remains well supported above $1.1850 mark. The pair made intraday high at $1.1885 and low at $1.1859 mark. A sustained close above $1.1862 tests key resistances at $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 marginally higher ahead of BoE’s interest rate decision and stabilizes above $1.31 mark against U.S. dollar. A sustained close above $1.3113 will drag the parity up towards $1.3176, $1.3212, $1.3257 and $1.3289 mark respec vely. Key support levels are seen at $1.3071, $1.3004, $1.2950, $1.2838 and $1.2775 mark respec vely. Commodity Trend: XAU/USD (GOLD): Gold created historical high of $2,055 mark yesterday. Today pair made intraday high at $2,046 and low at $2,034 mark. A sustained close above $2,038 requires for the upside rally. Alterna vely, reversal from key resistance will take the parity down towards key supports around $2,009, $1,999, $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 $2,054, $2,062, $2,071 and $2,082 mark respec vely. XAG/USD (Silver): Silver jumps above $27.38 mark in opening hours. A sustained close above $26.94 requires for upside rally. Key support levels are seen at $26.94, $26.00, $25.28, $24.41, $23.48 and $23.24 marks respec vely. Key resistances are seen at $27.38, $27.53, $27.77 and $28.14 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 0.72283 S1 0.71615 Buy Above 0.72173 0.72328 0.71709 0.71709 0.71443 0.72173 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.72489 S2 0.71409 R3 0.72823 S3 0.71075 R4 0.73363 S4 0.70535 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.71949
  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 1.18959 S1 1.18103 Buy Above 1.19120 1.19557 1.18058 1.18058 1.17511 1.19120 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.19223 S2 1.17839 R3 1.19651 S3 1.17411 R4 1.20343 S4 1.16719 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.18531 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 1.31504 S1 1.30680 Buy Above 1.31713 1.32117 1.30744 1.30744 1.30260 1.31713 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.31758 S2 1.30426 R3 1.32170 S3 1.30014 R4 1.32836 S4 1.29348 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.31092 AUGUST,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.33133 S1 1.32391 Buy Above 1.33049 1.33406 1.32351 1.32351 1.32119 1.33049 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.33361 S2 1.32163 R3 1.33732 S3 1.31792 R4 1.34331 S4 1.31193 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.32762 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 105.801 S1 105.381 Buy Above 106.053 106.303 105.187 105.187 104.868 106.053 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 105.932 S2 105.250 R3 106.142 S3 105.040 R4 106.483 S4 104.699 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 105.591 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 2051.85 S1 2016.61 Buy Above 2054.87 2059.20 2031.78 2031.78 2027.45 2054.87 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 2062.74 S2 2005.72 R3 2080.36 S3 1988.10 R4 S4 1959.59 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 2034.23 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 2108.87 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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