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Daily Forex Technical Analysis Report - December 04, 2020

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Let's review all the major instrument analysis including: #audusd #eurusd #gbpusd #usdcad #usdjpy #gold #xauusd

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Daily Forex Technical Analysis Report - December 04, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 04 December, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: U.S. dollar trades flat ahead of U.S. NFP job data, Asian stock markets mixed, gold flat at $1,840 mark Asian Headlines: • Australia Retail sales stand at 1.4 pct vs 1.6 pct previous release. Economic Data Ahead: • (0700 GMT/1230 IST) German factory orders, previous 0.5, expected 1.4. • (0745 GMT/1315 IST) France budget balance, previous -161.6B. • (0900 GMT/1430 IST) Italy retail sales, previous -0.8, expected 0.2. • (0930 GMT/1500 IST) U.K. construc on PMI, previous 53.1, expected 52.3. • (1330 GMT/1900 IST) Canada Job data, previous 83.6K, expected 22.0K. • (1330 GMT/1900 IST) U.S. NFP job data, previous 638K, expected 500K. • (1330 GMT/1900 IST) U.S. unemployment rate, previous 6.9, expected 6.8. 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 0.01% to 90.72 points. USD/JPY: The Japanese yen trades marginally lower and stabilizes below 104.00 mark. A sustained close above 104.50 will take the parity higher towards key resistance around 104.70, 104.90, 105.22, 105.64, 105.92, 106.22 and 106.76 mark respec vely. On the other side, a consistent close below 103.73 will drag the parity down towards 103.65, 103.50, 103.17 and 102.80 marks respec vely. AUD/USD: The Aussie takes halt around $0.7449 mark. The pair made intraday high at $0.7443 and low at $0.7422 marks. On the top side key resistances are seen at $0.7456, $0.7476 and $0.7520 mark respec vely. On the other hand, a consistent close below $0.7415 will take the parity down towards key supports around $0.7398, $0.7350, $0.7297, $0.7270, $0.7220, $0.7190, $0.7170, $0.7122, $0.7090 and $0.7052 mark respec vely. NZD/USD: The Kiwi exhibits range bound movement and consolidates around $0.7060 mark. Pair made intraday high at $0.7079 and low at $0.7054 mark. Key resistances are seen at $0.7084, $0.7132 and $0.7157 mark respec vely. Alterna vely, a consistent close below $0.7018 will drag the parity down towards key supports around $0.6960, $0.6922, $0.6850, $0.6783 and $0.6750 mark respec vely. USD/INR: The Indian rupee rises gradually against U.S. dollar and touches 73.62 mark in opening hours. The pair made intraday high at 73.83 and low at 73.62 marks. A sustained close below 73.43 marks will drag the parity down towards 73.20, 72.87, 72.65, 72.40 and 72.12 mark respec vely. On the top side key resistances are seen at 74.02, 74.40, 74.65, 75.02, 75.27, 75.39 and 75.62 marks respec vely. EUR/USD: The euro trades flat and remains well supported above $1.21 mark. The pair made intraday high at $1.2153 and low at $1.2137 mark. A sustained close above $1.2140 tests key resistances at $1.2176, $1.22 and $1.2240 mark respec vely. On the other side, a sustained close below $1.21 will target key supports around $1.2050, $1.1970, $1.1900, $1.1850, $1.1802, $1.1770, $1.1740, $1.1672, $1.1640, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The pound moves in s ff boundaries and stabilizes above $1.34 mark. Today pair made intraday high at $1.3467 and low at $1.3436 mark. A sustained close above $1.3440 will drag the parity up towards $1.3478, $1.3498 and $1.3525 mark respec vely. Key support levels are seen at $1.3315, $1.3290, $1.3263, $1.3222, $1.3170, $1.3122, $1.3090, $1.3054, $1.3002 and $1.2950 mark respec vely. Commodity Trend: XAU/USD (GOLD): Gold trades flat at $1,840 mark. Today pair made intraday high at $1,844 and low at $1,838 mark. A sustained close above $1,840 requires for the upside rally. On the other side, consistent close below $1,815 will check key supports as well. Key support levels are seen around $1,802, $1,787, $1,776, $1,764, $1,758, $1,747, $1,740 and $1,720 mark respec vely. Key resistances are seen at $1,842, $1,848, $1,857, $1,876 and $1,882 marks respec vely. XAG/USD (Silver): Silver trades flat and hovers around $24.00 mark. Today pair made intraday high at $24.11 and low at $23.94 mark. A sustained close above $24.10 requires for upside rally. Key support levels are seen at $23.35, $22.50, $21.90, $21.76, $21.72, $21.60 and $21.49 marks respec vely. Key resistances are seen at $24.10, $24.22, $24.78 and $25.02 marks respec vely.
  3. 3. AUD / USD REPORTFROM:TPGLOBALFXDECEMBER,2020 Time Frame: H1 INDICATORS Trends Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 0.74488 S1 0.74094 Buy Above 0.74515 0.74634 0.74059 0.74059 0.73949 0.74515 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.74609 S2 0.73973 R3 0.74806 S3 0.73776 R4 0.75124 S4 0.73458 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.74291
  4. 4. EUR / USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS Trends Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 1.21685 S1 1.21123 Buy Above 1.21635 1.21881 1.21223 1.21223 1.20990 1.21635 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.21858 S2 1.20950 R3 1.22139 S3 1.20669 R4 1.22593 S4 1.20215 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.21404 DECEMBER,2020
  5. 5. GBP / USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS Trends Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 1.34916 S1 1.33666 Buy Above 1.34792 1.35096 1.33918 1.33918 1.33538 1.34792 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.35301 S2 1.33281 R3 1.35926 S3 1.32656 R4 1.36936 S4 1.31646 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.34291 DECEMBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.29186 S1 1.28506 Buy Above 1.29104 1.29336 1.28329 1.28329 1.28082 1.29104 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.29396 S2 1.28296 R3 1.29736 S3 1.27956 R4 1.30286 S4 1.27406 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.28846 Trend Down Trend Moving Average (Period=75) Below MA RSI (Period=26) Below RSI LEVEL 50 DECEMBER,2020
  7. 7. USD /JPY REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 104.340 S1 103.680 Buy Above 104.452 104.678 103.620 103.620 103.433 104.452 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 104.544 S2 103.476 R3 104.874 S3 103.146 R4 105.408 S4 102.612 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 104.010 Trends Down Trend Moving Average (Period=75) Below MA RSI (Period=26) Below RSI LEVEL 50 DECEMBER,2020
  8. 8. XAU / [GOLD]USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1843.80 S1 1828.34 Buy Above 1847.63 1853.07 1835.85 1835.85 1831.43 1847.63 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1848.58 S2 1823.56 R3 1856.31 S3 1815.83 R4 S4 1803.32 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1836.07 Trends Up Trend Moving Average (Period=75) Above MA RSI (Period=26) Above RSI LEVEL 50 1868.82 DECEMBER,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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