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Daily Forex Technical Analysis Report - August 18, 2020

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Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
18 August, 2020
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Aussie falls immediately a er dovish RBA’s monetary policy mee ng m...
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 18, 2020

  1. 1. Daily Analysis Report +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 18 August, 2020
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Aussie falls immediately a er dovish RBA’s monetary policy mee ng minutes, Most Asian markets in green, gold remarkably up Asian Headlines: • U.S. TIC long term purchases stand at 113.0B vs 118.1B previous release (expected 108.0B). • Japan Reuters Tankan index stands at -33 vs -44 previous release. • RBNZ offshore holdings stand at 43.3 vs 41.4 previous release. Economic Data Ahead: • (0830 ET/1230 GMT) U.S. building permits, previous 1.26M, expected 1.33M. • (0830 ET/1230 GMT) U.S. housing starts, previous 1.19M, expected 1.23M. • (1030 ET/1430 GMT) Australia CB leading index, previous -0.4. Economic Events Ahead: • (0400 ET/0800 GMT) FOMC member Brainard’s speech. • (0400 ET/0800 GMT) ECB’s De Guindos’s speech. • (0600 ET/1000 GMT) EU Finance Ministers mee ng. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.21% to 92.66. USD/JPY: The Japanese yen firms against U. S. dollar and touches 105.56 mark in opening hours. A sustained close above 106.00 will take the parity higher towards key resistance around 106.65, 106.90, 107.48, 107.92, 108.22, 108.54, 109.20 and 109.72 mark respec vely. On the other side, a consistent close below 106.00 will drag the parity down towards 105.54, 105.10, 104.72, 104.20, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie falls immediately a er RBA’s monetary policy mee ng minutes, which confirms the dovish bias of the policy makers. The pair made intraday high at $0.7230 and low at $0.7208 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 $0.7213 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 consolidates around $0.6540 mark against U.S. dollar. Pair made intraday high at $0.6568 and low at $0.6534 mark. Key resistances are seen at $0.6578, $0.6649, $0.6715, $0.6766, $0.6782 and $0.6824 mark respec vely. Alterna vely, a consistent close below $0.6537 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 moves in s ff boundaries and stabilizes below 75.00 mark. The pair made intraday high at 74.68 and low at 74.59. A sustained close below 74.37 marks will drag the parity down towards 74.00, 73.76, 73.50, 73.42 and 73.26 mark respec vely. On the top side key resistances are seen at 74.82, 75.20, 75.39, 75.52, 75.65, 76.24, 76.48 and 76.88 marks respec vely. EUR/USD: The euro appreciates no ceably against U.S. dollar as markets an cipate Fed mee ng minutes due on Wednesday. The pair made intraday high at $1.1896 and low at $1.1864 mark. A sustained close above $1.1870 tests key resistances at $1.1917, $1.1948, $1.1976 and $1.1999 mark respec vely. On the other side, a sustained close below $1.1870 will target key supports around $1.1832, $1.1783, $1.1740, $1.1695, $1.1654, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The rises gradually against U.S. dollar and remains well supported above $1.31 mark. A sustained close above $1.3102 will drag the parity up towards $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 back on posi ve track and touches $1,996 mark in early Asia. Today pair made intraday high at $1,996 and low at $1,980 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 $1,980, $1,953, $1,922, $1,890, $1,862, $1,840, $1,822, $1,809 and $1,787 mark respec vely. Key resistances are seen at $1,994, 2,008, 2,020, 2,038 and $2,063 marks respec vely. XAG/USD (Silver): Silver strengthens on Tuesday. A sustained close above $29.13 requires for upside rally. Key support levels are seen at $26.44, $25.53, $25.02, $24.70, $23.41, $23.24 and $23.02 marks respec vely. Key resistances are seen at $27.92, $28.12, $28.38, $28.62 and $29.00 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 0.71938 S1 0.71686 Buy Above 0.72362 0.72488 0.71724 0.71724 0.71578 0.72362 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.72015 S2 0.71609 R3 0.72141 S3 0.71483 R4 0.72344 S4 0.71280 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.71812
  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 1.18640 S1 1.18340 Buy Above 1.18987 1.19176 1.18591 1.18591 1.18390 1.18987 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18733 S2 1.18247 R3 1.18883 S3 1.18097 R4 1.19126 S4 1.17854 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.18490 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 1.31171 S1 1.30807 Buy Above 1.31523 1.31784 1.30424 1.30424 1.30072 1.31523 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.31284 S2 1.30694 R3 1.31466 S3 1.30512 R4 1.31761 S4 1.30217 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.30989 AUGUST,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.32539 S1 1.32249 Buy Above 1.32499 1.32684 1.31747 1.31747 1.31540 1.32499 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.32628 S2 1.32160 R3 1.32773 S3 1.32015 R4 1.33007 S4 1.31781 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.32394 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 106.465 S1 105.921 Buy Above 106.344 106.680 105.430 105.430 105.164 106.344 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 106.632 S2 105.754 R3 106.904 S3 105.482 R4 107.343 S4 105.043 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 106.193 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 1989.72 S1 1943.08 Buy Above 2001.42 2019.68 1963.49 1963.49 1949.91 2001.42 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 2004.14 S2 1928.66 R3 2027.46 S3 1905.34 R4 S4 1867.60 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1966.40 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 2065.20 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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