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Daily Forex Technical Analysis Report - August 11, 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 11, 2020

  1. 1. Daily Analysis Report +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 11 August, 2020
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Japanese yen trades marginally lower despite robust current account data, Asian stock markets no ceably up; gold hovers around $2,020 mark Asian Headlines: • U.K. BRC retail sales monitor y/y stands at 4.3 pct vs 10.9 pct previous release (expected 2.5). • Japan bank lending stands at 6.3 pct vs 6.2 pct previous release (expected 6.2). • Japan Current account stands at 1.05T vs 0.82T previous release (expected 1.00T). • Australia NAB business confidence stands at -14 vs 1 previous release. • Australia NAB business survey stands at 0 vs -7 previous release. • Singapore GDP q/q stands at -42.9 pct vs -3.1 pct previous release (expected -42.9). Economic Data Ahead: • (0200 ET/0600 GMT) U.K. claimant count change, previous -28.1K. • (0200 ET/0600 GMT) U.K. average earning index, previous -0.3K, expected -1.2K. • (0200 ET/0600 GMT) U.K. unemployment rate, previous 3.9, expected 4.2. • (0500 ET/0900 GMT) Euro ZEW Economic sen ment, previous 59.6, expected 55.3. • (0500 ET/0900 GMT) German ZEW Economic sen ment, previous 59.3, expected 55.0. • (0600 ET/1000 GMT) U.S. NFIB small business index, previous 100.6, expected 101.7. • (0830 ET/1230 GMT) U.S. core PPI, previous -0.3, expected 0.1. • (0830 ET/1230 GMT) U.S. PPI, previous -0.2, expected 0.3. • (0930 ET/1330 GMT) U.K. CB leading index, previous -1.4. 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 down 0.06% to 93.53. USD/JPY: The Japanese yen trades marginally lower despite robust current account, bank lending data. A sustained close above 105.95 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 trades slightly up against U.S. dollar a er mixed economic data. The pair made intraday high at $0.7185 and low at $0.7144 marks. On the top side key resistances are seen at $0.7190, $0.7247, $0.7286 and $0.7344 mark respec vely. On the other hand, a consistent close below $0.7148 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 fails to find support below $0.6576 mark and jumps back above $0.66 mark. Pair made intraday high at $0.6626 and low at $0.6582 mark. Key resistances are seen at $0.6649, $0.6715, $0.6766, $0.6782 and $0.6824 mark respec vely. Alterna vely, a consistent close below $0.6590 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 exhibits range bound movement against U.S. dollar and slips back below 75.00 mark. The pair made intraday high at 74.76 and low at 74.60. A sustained close below 74.58 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 75.20, 75.39, 75.52, 75.65, 76.24, 76.48 and 76.88 marks respec vely. EUR/USD: The euro touches $1.1722 mark against U.S. dollar in early Asia. The pair made intraday high at $1.1754 and low at $1.1722 mark. A sustained close above $1.1737 tests key resistances at $1.1802, $1.1876, $1.1917, $1.1948, $1.1976 and $1.1999 mark respec vely. On the other side, a sustained close below $1.1737 will target key supports around $1.1695, $1.1654, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The pound trades almost flat ahead of U.K.’s job data. A sustained close above $1.3071 will drag the parity up towards $1.3102, $1.3141, $1.3185, $1.3212, $1.3257 and $1.3289 mark respec vely. Key support levels are seen at $1.3048, $1.3009, $1.2950, $1.2838 and $1.2775 mark respec vely. Commodity Trend: XAU/USD (GOLD): Gold depreciates in early Asia. Today pair made intraday high at $2,030 and low at $2,014 mark. A sustained close above $2,063 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 $2,030, $2,049, $2,076, $2,082, $2,088, $2,094 and $2,111 mark respec vely. XAG/USD (Silver): Silver falls in opening hours but remains well supported above $28.00 mark. A sustained close above $29.13 requires for upside rally. Key support levels are seen at $28.30, $27.88, $26.94, $26.00, $25.28, $24.41, $23.48 and $23.24 marks respec vely. Key resistances are seen at $29.24, $29.85, $30.12, $30.52, $30.76 and $31.11 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 0.71740 S1 0.71404 Buy Above 0.71947 0.72164 0.71280 0.71280 0.71093 0.71947 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.71844 S2 0.71300 R3 0.72012 S3 0.71132 R4 0.72284 S4 0.70860 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.71572
  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 1.17968 S1 1.17508 Buy Above 1.18315 1.18736 1.17088 1.17088 1.16715 1.18315 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18110 S2 1.17366 R3 1.18340 S3 1.17136 R4 1.18712 S4 1.16764 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.17738 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 1.31016 S1 1.30400 Buy Above 1.31141 1.31517 1.30044 1.30044 1.29557 1.31141 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.31207 S2 1.30209 R3 1.31515 S3 1.29901 R4 1.32014 S4 1.29402 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.30708 AUGUST,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.33799 S1 1.33333 Buy Above 1.33726 1.33980 1.33117 1.33117 1.32888 1.33726 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.33942 S2 1.33190 R3 1.34175 S3 1.32957 R4 1.34551 S4 1.32581 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.33566 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 106.087 S1 105.721 Buy Above 105.946 106.140 105.504 105.504 105.277 105.946 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 106.200 S2 105.608 R3 106.383 S3 105.425 R4 106.679 S4 105.129 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 105.904 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 2043.60 S1 2020.22 Buy Above 2042.85 2053.01 2010.51 2010.51 1999.05 2042.85 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 2050.81 S2 2013.01 R3 2062.50 S3 2001.32 R4 S4 1982.42 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 2031.91 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 2081.40 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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