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Daily Forex Technical Analysis Report - December 11, 2020

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+1 7754 366 970
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REPORTFROM:TPGLOBALFX
11 December, 2020
Daily Analysis Report

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+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Euro strengthens sharply a er ECB’s Monetary Policy Statement, Asia...

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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 11, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 11 December, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Euro strengthens sharply a er ECB’s Monetary Policy Statement, Asian stock markets mixed, gold stabilizes below $1,840 mark Asian Headlines: • New Zealand manufacturing index stands at 55.3 vs 52.4 previous release. • New Zealand FPI stands at -0.9 pct vs -0.7 pct previous release. Economic Data Ahead: • (0900 GMT/1430 IST) Italy industrial produc on, previous -5.6, expected 1.1. • (0930 GMT/1500 IST) U.K. consumer infla on expecta ons, previous 2.8. • (1330 GMT/1900 IST) U.S. PPI, previous 0.3, expected 0.1. • (1330 GMT/1900 IST) U.S. Core PPI, previous 0.1, expected 0.2. • (1500 GMT/2030 IST) U.S. Prelim UoM consumer sen ment, previous 76.9, expected 76.1. Economic Events Ahead: • (0700 GMT/1230 IST) BOE Financial stability report. • (0700 GMT/1230 IST) U.K. FPC Mee ng minutes. • (0700 GMT/1230 IST) U.K. FPC Statement. • (0830 GMT/1400 IST) BOE Governor Bailey’s speech. • All Day Euro Summit Day 2. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.18% to 90.66 points. USD/JPY: The Japanese yen rises no ceably in early Asia and slips 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 strengthens extremely against U.S. dollar on Friday and hits highest level since June 2018. The pair made intraday high at $0.7571 and low at $0.7522 marks. On the top side key resistances are seen at $0.7571, $0.7590, $0.7622 and $0.7650 mark respec vely. On the other hand, a consistent close below $0.7532 will take the parity down towards key supports around $0.7450, $0.7398, $0.7350, $0.7297, $0.7270, $0.7220 and $0.7190 mark respec vely. NZD/USD: The Kiwi rises in early Asia and touches $0.7113 mark. It is the highest level since April 2018. Pair made intraday high at $0.7113 and low at $0.7089 mark. Key resistances are seen at $0.7132, $0.7157 and $0.7190 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 sharply against U.S. dollar and hovers around 73.50 mark. The pair made intraday high at 73.69 and low at 73.52 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 remained highly vola le a er ECB kept interest rate unchanged but agreed to expand the bank's corona virus-related quan ta ve easing program. ECB raised Pandemic Emergency Purchase Programme (PEPP) by €500bn to a total of €1.85 trillion. The pair made intraday high at $1.2160 and low at $1.2133 mark. A sustained close above $1.2140 tests key resistances at $1.2176, $1.2240 and $1.2285 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 recovers slightly from previous losses and stabilizes above $1.33 mark. Today pair made intraday high at $1.3324 and low at $1.3285 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 $1.3290, $1.3263, $1.3222 and $1.3170 marks respec vely. Commodity Trend: XAU/USD (GOLD): Gold trades flat on Friday and trading around $1,837 mark. Today pair made intraday high at $1,840 and low at $1,834 mark. A sustained close above $1,840 requires for the upside rally. On the other side, consistent close below $1,836 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 exhibits range bound movement and consolidates around $24.00 mark. Today pair made intraday high at $24.06 and low at $23.88 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 0.75432 S1 0.74564 Buy Above 0.75793 0.75935 0.74941 0.74941 0.74717 0.75793 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.75700 S2 0.74296 R3 0.76134 S3 0.73862 R4 0.76836 S4 0.73160 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.74998
  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 1.21571 S1 1.20861 Buy Above 1.21699 1.21884 1.21098 1.21098 1.20896 1.21699 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.21790 S2 1.20642 R3 1.22145 S3 1.20287 R4 1.22719 S4 1.19713 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.21216 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 1.33789 S1 1.32523 Buy Above 1.33547 1.33885 1.32614 1.32614 1.32310 1.33547 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.34181 S2 1.32131 R3 1.34814 S3 1.31498 R4 1.35839 S4 1.30473 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.33156 DECEMBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.28045 S1 1.27109 Buy Above 1.27834 1.28028 1.27045 1.27045 1.26790 1.27834 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.28333 S2 1.26821 R3 1.28801 S3 1.26353 R4 1.29557 S4 1.25597 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.27577 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 104.473 S1 104.125 Buy Above 104.153 104.248 103.859 103.859 103.747 104.153 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 104.580 S2 104.018 R3 104.754 S3 103.844 R4 105.035 S4 103.563 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 104.299 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 1846.44 S1 1830.18 Buy Above 1845.19 1850.72 1827.99 1827.99 1823.10 1845.19 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1851.47 S2 1825.15 R3 1859.60 S3 1817.02 R4 S4 1803.86 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1838.31 Trends Down Trend Moving Average (Period=75) Below MA RSI (Period=26) Below RSI LEVEL 50 1872.76 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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