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Daily Forex Technical Analysis Report - December 08, 2020

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+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
08 December, 2020
Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Japanese yen remains almost unchanged a er mixed economic data, Asi...
AUD / USD
REPORTFROM:TPGLOBALFXDECEMBER,2020
Time Frame: H1
INDICATORS
Trends Up Trend
Moving Average (Period=75) Above MA...
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Daily Forex Technical Analysis Report - December 08, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 08 December, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Japanese yen remains almost unchanged a er mixed economic data, Asian stock markets mixed, gold back above $1,870 mark Asian Headlines: • Japan average cash earnings stand at -0.8 pct vs -1.3 pct previous release (expected -0.7). • Japan house hold spending stands at 1.9 pct vs -10.2 previous release (expected 2.7). • Japan Current account stands at 1.98T vs 1.35T previous release (expected 1.83T). • Japan final GDP stands at 5.3 pct vs 5.0 pct previous release. • Australia HPI q/q stands at 0.8 pct vs -1.8 pct previous release (expected -1.6). • Australia NAB business confidence stands at 12 vs 3 previous release. Economic Data Ahead: • (1000 GMT/1530 IST) Euro final employment change, previous 0.9, expected 0.9. • (1000 GMT/1530 IST) Euro revised GDP q/q, previous 12.6, expected 12.6. • (1000 GMT/1530 IST) Euro German ZEW economic sen ment, previous 39.0, expected 45.9. • (1330 GMT/1900 SIT) U.S. revised nonfarm produc vity, previous 4.9, expected 4.9. Economic Events Ahead: • No key economic 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 0.07% to 90.85 points. USD/JPY: The Japanese yen remains almost unchanged a er mixed economic data. 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 trades marginally higher on Tuesday a er robust HPI data. The pair made intraday high at $0.7429 and low at $0.7410 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 and $0.7190 mark respec vely. NZD/USD: The Kiwi trades flat on Tuesday and hovers around $0.7050 mark. Pair made intraday high at $0.7043 and low at $0.7027 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 exhibits range bound movement against U.S. dollar. The pair made intraday high at 73.82 and low at 73.76 marks. A sustained close below 73.42 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 ahead of German ZEW economic sen ment data. The pair made intraday high at $1.2116 and low at $1.2104 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 falls gradually against U.S. dollar and hovers around $1.3350 mark. Today pair made intraday high at $1.3375 and low at $1.3343 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 and $1.3170 marks respec vely. Commodity Trend: XAU/USD (GOLD): Gold rises sharply and hits fresh 2 – week high at $1,871 mark. Today pair made intraday high at $1,871 and low at $1,856 mark. A sustained close above $1,862 requires for the upside rally. On the other side, consistent close below $1,838 will check key supports as well. Key support levels are seen around $1,822, $1,810, $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 $1,876, $1,882, $1,888, $1,894 and $1,902 marks respec vely. XAG/USD (Silver): Silver remained highly vola le in previous session and currently trading around $24.70 mark. Today pair made intraday high at $24.75 and low at $24.22 mark. A sustained close above $24.48 requires for upside rally. Key support levels are seen at $23.82, $23.55, $23.35, $22.50 and $21.90 marks respec vely. Key resistances are seen at $24.78, $25.02, $25.37, $25.50 and $25.62 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 0.74454 S1 0.73836 Buy Above 0.74416 0.74580 0.73984 0.73984 0.73854 0.74416 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.74645 S2 0.73645 R3 0.74954 S3 0.73336 R4 0.75454 S4 0.72836 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.74145
  4. 4. EUR / USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS Trends Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 1.21509 S1 1.20839 Buy Above 1.21401 1.21562 1.20951 1.20951 1.20739 1.21401 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.21716 S2 1.20632 R3 1.22051 S3 1.20297 R4 1.22593 S4 1.19755 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.21174 DECEMBER,2020
  5. 5. GBP / USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS Trends Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 1.33987 S1 1.32355 Buy Above 1.34361 1.34918 1.33041 1.33041 1.32556 1.34361 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.34491 S2 1.31851 R3 1.35307 S3 1.31035 R4 1.36627 S4 1.29715 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.33171 DECEMBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.28242 S1 1.27792 Buy Above 1.28098 1.28292 1.27587 1.27587 1.27404 1.28098 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.28382 S2 1.27652 R3 1.28607 S3 1.27427 R4 1.28972 S4 1.27062 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.28017 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 104.236 S1 103.938 Buy Above 104.263 104.367 103.837 103.837 103.746 104.263 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 104.327 S2 103.847 R3 104.476 S3 103.698 R4 104.716 S4 103.458 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 104.087 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 1868.61 S1 1833.09 Buy Above 1876.07 1880.75 1858.39 1858.39 1853.45 1876.07 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1879.58 S2 1822.12 R3 1897.34 S3 1804.36 R4 S4 1775.63 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1850.85 Trends Up Trend Moving Average (Period=75) Above MA RSI (Period=26) Above RSI LEVEL 50 1926.07 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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