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Daily Forex Technical Analysis Report - August 24, 2020

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Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
24 August, 2020
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Kiwi remains vola le in early Asia as retail sales, core retail sal...
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 24, 2020

  1. 1. Daily Analysis Report +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 24 August, 2020
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Kiwi remains vola le in early Asia as retail sales, core retail sales data meet expecta ons; Asian stock markets in green; gold stabilizes below $1,940 mark Asian Headlines: • New Zealand Retail sales q/q stands at -14.6 pct vs -1.2 pct previous release (expected -16.3). • New Zealand Core Retail sales q/q stands at -13.7 pct vs 0.1 pct previous release (expected -15.0). Economic Data Ahead: • (0700 ET/1100 GMT) Brazil FGV consumer confidence, previous 78.8. • (0830 ET/1230 GMT) U.S. Chicago Fed Na onal ac vity, previous 4.11. 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 up 0.01% to 93.25. USD/JPY: The Japanese yen trades marginally lower and trading around 105.80 mark against U.S. dollar. A sustained close above 106.10 will take the parity higher towards key resistance around 106.22, 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 105.75 will drag the parity down towards 105.40, 105.10, 104.72, 104.20, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie starts a new week on a flat note and stabilizing below $0.72 mark. The pair made intraday high at $0.7178 and low at $0.7152 marks. On the top side key resistances are seen at $0.7242, $0.7286, $0.7304 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 remains vola le a er robust retail sales data. Pair made intraday high at $0.6548 and low at $0.6525 mark. Key resistances are seen at $0.6602, $0.6649, $0.6715, $0.6766, $0.6782 and $0.6824 mark respec vely. Alterna vely, a consistent close below $0.6534 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 exhibits range bound movement against U.S. dollar. The pair made intraday high at 74.86 and low at 74.76. A sustained close below 74.85 marks will drag the parity down towards 74.49, 74.00, 73.76, 73.50, 73.42 and 73.26 mark respec vely. On the top side key resistances are seen at 75.02, 75.20, 75.39, 75.52, 75.65, 76.24, 76.48 and 76.88 marks respec vely. EUR/USD: The euro falls no ceably against U.S. dollar and hovers around $1.18 mark in opening hours. The pair made intraday high at $1.1806 and low at $1.1784 mark. A sustained close above $1.1860 tests key resistances at $1.1890, $1.1965, $1.1976, $1.1999 and $1.2022 mark respec vely. On the other side, a sustained close below $1.1783 will target key supports around $1.1740, $1.1695, $1.1654, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The sterling consolidates around $1.3090 mark against U.S. dollar. A sustained close above $1.3238 will drag the parity up towards $1.3289, $1.3322, $1.3378, $1.3442 and $1.3515 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 starts a new week on a lower note. Today pair made intraday high at $1,941 and low at $1,930 mark. A sustained close above $2,001 requires for the upside rally. Alterna vely, reversal from key resistance will take the parity down towards key supports around $1,922, $1,890, $1,862, $1,840, $1,822, $1,809 and $1,787 mark respec vely. Key resistances are seen at $1,942, $1,948, $1,957, $1,972, $1,987, $1,994, $2,008, 2,020, 2,038 and $2,063 marks respec vely. XAG/USD (Silver): Silver slips below $27.00 mark. A sustained close above $29.13 requires for upside rally. Key support levels are seen at $26.12, $25.53, $25.02, $24.70, $23.41, $23.24 and $23.02 marks respec vely. Key resistances are seen at $26.82, $27.54, $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 Down Trend Moving Average (Period=75) Below MA H 1 RIS (Period=26) Below RIS LEVEL 50 FIBO Levels PIVOT R1 0.72005 S1 0.71421 Buy Above 0.72063 0.72228 0.71316 0.71316 0.71081 0.72063 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.72186 S2 0.71240 R3 0.72478 S3 0.70948 R4 0.72951 S4 0.70475 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.71713
  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 1.18598 S1 1.17614 Buy Above 1.18408 1.18720 1.17511 1.17511 1.17190 1.18408 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18902 S2 1.17310 R3 1.19394 S3 1.16818 R4 1.20190 S4 1.16022 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.18106 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 1.32091 S1 1.30593 Buy Above 1.31534 1.31883 1.30456 1.30456 1.30043 1.31534 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.32554 S2 1.30130 R3 1.33303 S3 1.29381 R4 1.34515 S4 1.28169 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.31342 AUGUST,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.32227 S1 1.31653 Buy Above 1.31951 1.32224 1.31405 1.31405 1.31132 1.31951 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.32405 S2 1.31475 R3 1.32692 S3 1.31188 R4 1.33157 S4 1.30723 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.31940 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 106.013 S1 105.531 Buy Above 106.082 106.285 105.355 105.355 105.108 106.082 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 106.161 S2 105.383 R3 106.402 S3 105.142 R4 106.791 S4 104.753 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 105.772 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 1952.37 S1 1918.45 Buy Above 1955.83 1965.25 1910.94 1910.94 1895.24 1955.83 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1962.86 S2 1907.96 R3 1979.82 S3 1891.00 R4 S4 1863.55 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1935.41 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 2007.27 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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