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Daily Forex Technical Analysis Report - January 07, 2021

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+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
07 January, 2021
Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Japanese yen depreciates as Covid infec ons boost sharply, Asian st...
AUD / USD
BUY SELL
REPORTFROM:TPGLOBALFXJANUARY,2021
Technical Summary
Trends Up Trend
Moving Average (Period=75) Above MA...
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Daily Forex Technical Analysis Report - January 07, 2021

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 07 January, 2021 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Japanese yen depreciates as Covid infec ons boost sharply, Asian stock markets in green, gold flat Asian Headlines: • Japan average cash earnings stands at -2.2 vs -0.7 previous release (expected -0.9). • Australia building approvals stands at 2.6 pct vs 3.3 pct previous release (expected 1.9). • Australia trade balance stands at 5.02B vs 6.58B previous release (expected 6.45B). • PBOC fixes USD/CNY reference rate at 6.4608 (previous fix 6.4604, previous close 6.4640). • Japan PM Suga – Ready to declare locked down in Tokyo for 1 – month as corona virus infec ons increase sharply. • S&P 500 index hit a record high a er Democrat victories in two Georgia races. • Georgia voters elected the first Black senator in the state’s history, Raphael Warnock, and the Senate’s youngest member, Jon Ossoff. • Vice President Kamala Harris’ victory allows the Democrats to control the chamber for next 4 years. • Overnight, hundreds of Trump’s protestors gathered as a reac on of his elec on defeat; police struggled more than 3 hours to clear the Capitol. Economic Data Ahead: • (0645 GMT/1215 IST) Swiss unemployment rate, previous 3.4, expected 3.4. • (0700 GMT/1230 IST) German factory orders, previous 2.9, expected -0.6. • (0730 GMT/1300 IST) Swiss retail sales, previous 3.1, expected 3.5. • (0930 GMT/1500 IST) U.K. construc on PMI, previous 54.7, expected 54.6. • (1000 GMT/1530 IST) Euro retail sales, previous 1.5, expected -3.4. • (1330 GMT/1900 IST) U.S. trade balance, previous -63.1B, expected -66.7B. • (1500 GMT/2030 IST) U.S. ISM Services PMI, previous 55.9, expected 54.5. Economic Events Ahead: • (0900 GMT/1430 IST) ECB Economic bulle n. • (1800 GMT/2330 IST) FOMC member Evans’s speech. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.15% to 89.40 points.
  3. 3. AUD / USD BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2021 Technical Summary Trends Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 S10.7815 R2 S20.7854 R3 S30.7878 R4 Commentary S40.7904 Buy Above 0.78222 0.78523 0.77902 – Take Profit – Stop Loss Trade Idea Sell Below 0.77621 0.77351 0.77982 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 AUD/USD: The Aussie continues to trade higher on Thursday after mixed economic data and touches $0.7817 mark in early Asia. On a 60 – minute timeframe, both RSI and MA are supporting the upside trend. Key ranges for the day will be $0.7815 and $0.7770 marks. A consistent close of either side will provide further directions to the parity. 0.7770 0.7702 0.7676 0.7590
  4. 4. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2021 Technical Summary Trends Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) FIBO Levels PIVOT R1 S11.2332 R2 S21.2368 R3 S31.2390 R4 Commentary S41.2422 Buy Above 1.23526 1.23763 1.23310 – Take Profit – Stop Loss Trade Idea Sell Below 1.22941 1.22775 1.23131 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 EUR/USD: The euro remains noticeably strong ahead of ECB’s economic bulletin and retail sales data. While looking at the daily chart, RSI confirms the upward price trend and MA too supports the buy channel. EUR / USD 1.2275 1.2240 1.2206 1.2170 Above RSI LEVEL 50
  5. 5. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2021 Technical Summary Trends Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 S11.3648 R2 S21.3703 R3 S31.3722 R4 Commentary S41.3748 Buy Above 1.36471 1.36874 1.35974 – Take Profit – Stop Loss Trade Idea Sell Below 1.35390 1.35085 1.35707 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 GBP/USD: The sterling enjoys roller - coaster movement and hovers around $1.36 mark. In H1 chart, RSI supports the sideways movement for the time being. The key boundaries for the day will be $1.3622 and $1.3550 mark. Markets eye U.K.’s construction PMI data for the further directions to the parity. GBP / USD 1.3580 1.3522 1.3487 1.3440
  6. 6. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2021 Technical Summary Trends Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 S11.2771 R2 S21.2812 R3 S31.2853 R4 Commentary S41.2906 Buy Above 1.27100 1.27550 1.26694 – Take Profit – Stop Loss Trade Idea Sell Below 1.26426 1.26086 1.26783 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/CAD: The parity trades flat in Asian hours and stabilizes below 1.2700 mark. The pair hits lowest level of 1.2629 mark since April 2018. The RSI and MA, both are supporting the downside trend. A consistent close below 1.2667 requires for the downside rally. Today Canada is scheduled to release Ivey PMI data, the actual data will help out to forecast further direction. USD /CAD 1.2654 1.2600 1.2572 1.2540
  7. 7. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2021 Technical Summary Trends Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 S1103.25 R2 S2103.76 R3 S3104.22 R4 Commentary S4104.50 Buy Above 103.274 103.425 103.126 – Take Profit – Stop Loss Trade Idea Sell Below 102.935 102.692 103.182 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/JPY: The Japanese yen falls in early Asia as average cash earnings data miss the expectations. On a 60 – minute timeframe, key hurdle is seen at 102.90 mark. A sustained close below will check key supports. Alternatively reversal will check key resistances. In addition, on a daily chart, RSI confirms the uptrend for the day. USD /JPY 102.90 102.45 102.10 101.50
  8. 8. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2021 Technical Summary Trends Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 S11924 R2 S21932 R3 S31940 R4 Commentary S41948 Buy Above 1932.46 1943.34 1922.29 – Take Profit – Stop Loss Trade Idea Sell Below 1910.82 1901.03 1921.28 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 XAU/USD (GOLD): Gold remains highly volatile in previous session and gave $59 downside movement on the basis of fundamental events. Today pair moves in stiff boundaries and stabilizes around $1,920 mark. On a daily timeframe, RSI is indicating the downtrend but MA still signals the upside pressure. The key ranges for the gold will be $1,924 - $1,912 mark. A sustained close of either side will give further direction to the parity. XAU [GOLD]USD/ 1912 1898 1887 1882
  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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