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Daily Forex Technical Analysis Report - December 10, 2020

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+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
10 December, 2020
Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Euro trades marginally higher ahead on ECB’s Interest Rate Decision...
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 10, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 10 December, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Euro trades marginally higher ahead on ECB’s Interest Rate Decision, Asian stock markets mixed, gold flat at $1,840 mark Asian Headlines: • Japan BSI manufacturing index stands at 21.6 vs 0.1 previous release (expected 3.5). • Japan PPI stands at -2.2 vs -2.1 previous release (expected -2.2). • Australia MI infla on expecta ons stand at 3.5 pct vs 3.5 pct previous release. Economic Data Ahead: • (0700 GMT/1230 IST) U.K. GDP m/m, previous 1.1, expected 0.4. • (0700 GMT/1230 IST) U.K. goods trade balance, previous -9.3B, expected -9.6B. • (0700 GMT/1230 IST) U.K. manufacturing produc on, previous 0.2, expected 0.3. • (0700 GMT/1230 IST) U.K. industrial produc on, previous 0.5, expected 0.3. • (1245 GMT/1815 IST) Euro Interest rate decision, previous 0.00, expected 0.00. • (1330 GMT/1900 IST) U.S. CPI, previous 0.00, expected 0.1. • (1330 GMT/1900 IST) U.S. Core CPI, previous 0.00, expected 0.1. Economic Events Ahead: • (1330 GMT/1900 IST) ECB Press Conference. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.11% to 90.98 points. USD/JPY: The Japanese yen rises on Thursday and 104.50 mark in early Asia. 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 rises sharply against U.S. dollar on Thursday. The pair made intraday high at $0.7479 and low at $0.7424 marks. On the top side key resistances are seen at $0.7485, $0.7520 and $0.7570 mark respec vely. On the other hand, a consistent close below $0.7409 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 remained highly vola le in previous session and recovers previous losses too. Pair made intraday high at $0.7042 and low at $0.7010 mark. Key resistances are seen at $0.7084, $0.7132 and $0.7157 mark respec vely. Alterna vely, a consistent close below $0.7040 will drag the parity down towards key supports around $0.7002, $0.6960, $0.6922, $0.6850, $0.6783 and $0.6750 mark respec vely. USD/INR: The Indian rupee rises against U.S. dollar and hovers around 73.60 mark. The pair made intraday high at 73.73 and low at 73.60 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 marginally higher ahead of ECB’s interest rate decision. The pair made intraday high at $1.2100 and low at $1.2073 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 spikes down sharply in early Asian hours as Brexit deal deadline is coming near. Today pair made intraday high at $1.3412 and low at $1.3311 mark. A sustained close above $1.34 will drag the parity up towards $1.3428, $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 depreciated sharply in previous early U.S. session and touched $1,825 mark. Today pair made intraday high at $1,842 and low at $1,833 mark. A sustained close above $1,840 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 $1,840, $1,847, $1,862, $1,876, $1,882, $1,888, $1,894 and $1,902 marks respec vely. XAG/USD (Silver): Silver recovers previous losses and jumps back above $24.00 mark. Today pair made intraday high at $24.06 and low at $23.84 mark. A sustained close above $24.55 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 0.74741 S1 0.74127 Buy Above 0.74891 0.75057 0.74268 0.74268 0.74074 0.74891 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.74931 S2 0.73937 R3 0.75238 S3 0.73630 R4 0.75735 S4 0.73133 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.74434
  4. 4. EUR / 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 1.21291 S1 1.20615 Buy Above 1.21179 1.21361 1.20726 1.20726 1.20583 1.21179 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.21501 S2 1.20405 R3 1.21839 S3 1.20067 R4 1.22387 S4 1.19519 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.20953 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 1.33457 S1 1.33059 Buy Above 1.34160 1.34438 1.33269 1.33269 1.32973 1.34160 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.33855 S2 1.32813 R3 1.34499 S3 1.32415 R4 1.35143 S4 1.31771 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.33457 DECEMBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.28310 S1 1.27822 Buy Above 1.28290 1.28466 1.27790 1.27790 1.27646 1.28290 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.28461 S2 1.27671 R3 1.28705 S3 1.27427 R4 1.29100 S4 1.27032 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.28066 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 104.358 S1 104.088 Buy Above 104.512 104.687 104.083 104.083 103.940 104.512 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 104.441 S2 104.005 R3 104.576 S3 103.870 R4 104.794 S4 103.652 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 104.223 Trends UP Trend Moving Average (Period=75) Above MA RSI (Period=26) Above RSI LEVEL 50 DECEMBER,2020
  8. 8. XAU / [GOLD]USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1862.56 S1 1827.96 Buy Above 1850.68 1856.35 1828.48 1828.48 1823.54 1850.68 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1873.24 S2 1817.28 R3 1890.54 S3 1799.98 R4 S4 1722.00 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1845.26 Trends Up Trend Moving Average (Period=75) Above MA RSI (Period=26) Above RSI LEVEL 50 1918.52 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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