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Daily Forex Technical Analysis Report - August 12, 2020

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Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
12 August, 2020
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: U.S. dollar rises tremendously against major peers; Kiwi falls as R...
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 12, 2020

  1. 1. Daily Analysis Report +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 12 August, 2020
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: U.S. dollar rises tremendously against major peers; Kiwi falls as RBNZ keeps interest rate unchanged; Asian stock markets in red; gold hits fresh 3 – week low at $1,862 mark Asian Headlines: • Japan M2 money stock y/y stands at 7.9 pct vs 7.3 pct previous release (expected 8.5). • Australia Westpac consumer sen ment stands at -9.5 pct vs -6.1 pct previous release. • Australia wage price index q/q stands at 0.2 pct vs 0.5 pct previous release (expected 0.3). • New Zealand keeps interest rate unchanged at 0.25 pct. Economic Data Ahead: • (0500 ET/0900 GMT) Euro Zone industrial produc on, previous 12.4, expected 10.1. • (0830 ET/1230 GMT) U.S. CPI m/m, previous 0.6, expected 0.3. • (0830 ET/1230 GMT) U.S. core CPI m/m, previous 0.2, expected 0.2. • (1400 ET/1800 GMT) U.S. Federal budget balance, previous -864.1B, expected -138.3B. Economic Events Ahead: • (1100 ET/1500 GMT) 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 up 0.25% to 93.86. USD/JPY: The Japanese yen falls gradually against U.S. dollar and hovers around key resistance at 106.90 mark. A sustained close above 106.48 will take the parity higher towards key resistance around 106.90, 107.92, 108.22, 108.54, 109.20 and 109.72 mark respec vely. On the other side, a consistent close below 106.48 will drag the parity down towards 105.87, 105.10, 104.72, 104.20, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie erases previous gain against U.S. dollar and touches $0.7109 mark in early Asia. The pair made intraday high at $0.7150 and low at $0.7109 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 $0.7142 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 falls no ceably a er RBNZ keeps interest rate unchanged. Pair made intraday high at $0.6577 and low at $0.6524 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 $0.6499, $0.6476, $0.6420, $0.6380, $0.6356, $0.6289, $0.6240 mark respec vely. USD/INR: The Indian rupee trades flat and remains well supported above 74.50 mark. The pair made intraday high at 74.71 and low at 74.58. A sustained close below 74.50 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 depreciates and trading around $1.1717 mark against U.S. dollar. The pair made intraday high at $1.1746 and low at $1.1711 mark. A sustained close above $1.1740 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 marginally lower ahead of U.K. GDP and manufacturing produc on data. A sustained close above $1.3047 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 falls extremely and touches $1,862 mark in early Asia. Today pair made intraday high at $1,929 and low at $1,862 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 $1,862, $1,840, $1,822, $1,809 and $1,787 mark respec vely. Key resistances are seen at $1,931, 1,942, 1,947, 1,956 and $1,987 marks respec vely. XAG/USD (Silver): Silver falls dras cally in opening hours and slips below $24.00 mark. A sustained close above $29.13 requires for upside rally. Key support levels are seen at $23.41, $23.24 and $23.02 marks respec vely. Key resistances are seen at $26.00, $26.24, $26.48, $26.67 and $26.88 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 0.71761 S1 0.71343 Buy Above 0.71562 0.71721 0.70978 0.70978 0.70826 0.71562 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.71890 S2 0.71214 R3 0.72099 S3 0.71005 R4 0.72437 S4 0.70667 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.71552
  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 1.17886 S1 1.17234 Buy Above 1.17665 1.17935 1.16962 1.16962 1.16601 1.17665 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18087 S2 1.17033 R3 1.18413 S3 1.16707 R4 1.18940 S4 1.16180 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.17560 AUGUST,2020
  5. 5. GBP / 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 1.31077 S1 1.30387 Buy Above 1.30766 1.31065 1.29796 1.29796 1.29449 1.30766 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.31291 S2 1.30173 R3 1.31636 S3 1.29828 R4 1.32195 S4 1.29269 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.30732 AUGUST,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.33446 S1 1.32756 Buy Above 1.33638 1.33825 1.33098 1.33098 1.32855 1.33638 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.33660 S2 1.32542 R3 1.34005 S3 1.32197 R4 1.34564 S4 1.31638 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.33101 Trend Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 AUGUST,2020
  7. 7. USD /JPY REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 106.652 S1 106.042 Buy Above 106.957 107.234 106.142 106.142 105.798 106.957 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 106.840 S2 105.854 R3 107.145 S3 105.549 R4 107.638 S4 105.056 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 106.347 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 1995.73 S1 1897.47 Buy Above 1908.05 1921.92 1849.60 1849.60 1830.61 1908.05 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 2026.07 S2 1867.13 R3 2075.20 S3 1818.00 R4 S4 1738.53 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1946.60 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 2154.67 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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