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Daily Forex Technical Analysis Report - July 14, 2020

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Let's review all the major instrument analysis including: #AUDUSD, #EURUSD, #GBPUSD, #USDCAD, #USDJPY and #GOLD.

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Daily Forex Technical Analysis Report - July 14, 2020

  1. 1. Daily Analysis Report +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 14 July, 2020
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Aussie remains almost unchanged a er NAB business confidence data; Asian stock markets extremely down; gold hovers around $1,800 mark Asian Headlines: • New Zealand visitor arrivals m/m stands at 82.3 pct vs -98.9 pct previous release. • U.K. BRC retail sales monitor y/y stands at 10.9 pct vs 7.9 pct previous release. • Australia NAB business confidence stands at 1 vs -20 pct previous release. • China trade balance stands at 329B vs 443B previous release. • China trade balance USD stands at 46.4B vs 62.9B previous release. Economic Data Ahead: • (0200 ET/0600 GMT) U.K. GDP m/m, previous -20.4 pct, expected 5.0 pct. • (0200 ET/0600 GMT) U.K. construc on output m/m, previous -40.1 pct, expected 14.9 pct. • (0200 ET/0600 GMT) U.K. good trade balance, previous -7.5B, expected -8.2B. • (0200 ET/0600 GMT) U.K. industrial produc on m/m, previous -20.3 pct, expected 6.0 pct. • (0200 ET/0600 GMT) U.K. manufacturing produc on m/m, previous -24.3 pct, expected 7.5 pct. • (0230 ET/0630 GMT) Swiss PPI m/m, previous -0.5 pct, expected 0.3 pct. • (0500 ET/0900 GMT) Euro industrial produc on m/m, previous -17.1 pct, expected 14.9 pct. • (0500 ET/0900 GMT) Euro German ZEW economic sen ment, previous 63.4, expected 60.1. • (0500 ET/0900 GMT) Euro ZEW economic sen ment, previous 58.6, expected 55.8. • (0830 ET/1230 GMT) U.S. CPI m/m, previous -0.1 pct, expected 0.6 pct. • (0830 ET/1230 GMT) U.S. core CPI m/m, previous -0.1 pct, expected 0.1 pct. Economic Events Ahead: • (1400 ET/1800 GMT) U.S. FOMC member Brainard’s speech. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.10% to 96.56. USD/JPY: The Japanese yen reverses previous gain against U.S. dollar and jumps above 107.00 mark. A sustained close above 107.51 will take the parity higher towards key resistance around 107.92, 108.22, 108.54, 109.20 and 109.72 mark respec vely. On the other side, a consistent close below 106.84 will drag the parity down towards 106.51, 106.22, 105.98 and 104.20 marks respec vely. AUD/USD: The Aussie exhibits range bound movement against U.S. dollar and consolidates around $0.6950 mark. The pair made intraday high at $0.6950 and low at $0.6926 marks. On the top side key resistances are seen at $0.7002, $0.7040 and $0.7066 mark respec vely. On the other hand, a consistent close below $0.6929 will take the parity down towards key supports around $0.6861, $0.6833, $0.6799, $0.6760, $0.6722 and $0.6698 mark respec vely. NZD/USD: The kiwi trades marginally lower against U.S. dollar and slips below $0.6550 mark in early Asia. Pair made intraday high at $0.6543 and low at $0.6524 mark. Key resistances are seen at $0.6597, $0.6620 and $0.6665 mark respec vely. Alterna vely, a consistent close below $0.6539 will drag the parity down towards key supports around $0.6499, $0.6476, $0.6420, $0.6380, $0.6356, $0.6289, $0.6240 mark respec vely. USD/INR: The Indian rupee falls no ceably against U.S. dollar and hits fresh 2 – week low at 75.20 mark. The pair made intraday high at 75.20 and low at 74.63. A sustained close below 74.97 marks will drag the parity down towards 74.51, 74.00, 73.76, 73.50, 73.42 and 73.26 mark respec vely. On the top side key resistances are seen at 75.26, 75.52, 75.65, 76.24, 76.48 and 76.88 marks respec vely. EUR/USD: The euro trades flat ahead of industrial produc on and ZEW economic sen ment data. The pair made intraday high at $1.1350 and low at $1.1335 mark. A sustained close above $1.1343 tests key resistances at $1.1372, $1.1422, $1.1448 and $1.1476 mark respec vely. On the other side, a sustained close below $1.1297 will target key supports around $1.1272, $1.1240, $1.1190, $1.1157, $1.1134 and $1.1067 marks respec vely. GBP/USD: The pound trades flat in early Asia ahead of GDP data. A sustained close above $1.2620 will drag the parity up towards $1.2663, $1.2722, $1.2777, $1.2803 and $1.2849 mark respec vely. Key support levels are seen at $1.2572, $1.2540, $1.2457, $1.2422, $1.2342, $1.2297, $1.2247, $1.2204 and $1.2160 mark respec vely. Commodity Trend: XAU/USD (GOLD): Gold remains slightly vola le during this week and hovers around $1,800 mark. Today pair made intraday high at $1,803 and low at $1,795 mark. A sustained close above $1,809 requires for the upside rally. Alterna vely, reversal from key resistance will take the parity down towards key supports around $1,790, $1,784, $1,770, $1,754, $1,748, $1,740, $1,732, $1,722 and $1,718 mark respec vely. Key resistances are seen at $1,817, $1,824, $1,832 and $1,842 mark respec vely. XAG/USD (Silver): Silver hit highest level in previous session since Sept 2019 and touched $19.37 mark. Today pair is trading around $19.00 mark. A sustained close above $19.06 requires for upside rally. Key support levels are seen at $18.72, $18.62, $18.48, $18.18, $18.02, $17.92 and $17.80 respec vely. Key resistances are seen at $19.37, $19.65, $19.85 and $20.13 marks respec vely.
  3. 3. AUD / USD REPORTFROM:TPGLOBALFXJULY,2020 Time Frame: H1 INDICATORS Trends Down Trend Moving Average (Period=75) Below MA H 1 RIS (Period=26) Below RIS LEVEL 50 FIBO Levels PIVOT R1 0.69774 S1 0.69360 Buy Above 0.69763 0.69932 0.69174 0.69174 0.69010 0.69763 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.69901 S2 0.69233 R3 0.70108 S3 0.69026 R4 0.70442 S4 0.68692 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.69567
  4. 4. EUR / USD REPORTFROM:TPGLOBALFX2020 Time Frame: H1 INDICATORS Trends Up Trend Moving Average (Period=75) Above MA H 1 RIS (Period=26) Above RIS LEVEL 50 FIBO Levels PIVOT R1 1.13676 S1 1.13110 Buy Above 1.13772 1.14025 1.12970 1.12970 1.12698 1.13772 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.13850 S2 1.12936 R3 1.14133 S3 1.12653 R4 1.14590 S4 1.12196 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.13393 JULY,
  5. 5. GBP / USD REPORTFROM:TPGLOBALFX2020 Time Frame: H1 INDICATORS Trends Down Trend Moving Average (Period=75) Below MA H 1 RIS (Period=26) Below RIS LEVEL 50 FIBO Levels PIVOT R1 1.26340 S1 1.25454 Buy Above 1.25960 1.26229 1.25150 1.25150 1.24876 1.25960 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.26613 S2 1.25181 R3 1.27056 S3 1.24738 R4 1.27772 S4 1.24022 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.25897 JULY,
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX2020 Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.36141 S1 1.35565 Buy Above 1.36350 1.36551 1.35785 1.35785 1.35579 1.36350 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.36320 S2 1.35386 R3 1.36608 S3 1.35098 R4 1.37075 S4 1.34631 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.35853 Trend Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 JULY,
  7. 7. USD /JPY REPORTFROM:TPGLOBALFX2020 Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 107.329 S1 106.925 Buy Above 107.403 107.562 106.919 106.919 106.745 107.403 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 107.455 S2 106.799 R3 107.657 S3 106.596 R4 107.985 S4 106.269 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 107.127 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 JULY,
  8. 8. XAU / [GOLD]USD REPORTFROM:TPGLOBALFX2020 Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1810.20 S1 1798.48 Buy Above 1807.34 1813.20 1793.50 1793.50 1788.96 1807.34 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1813.83 S2 1794.85 R3 1819.69 S3 1788.99 R4 S4 1779.50 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1804.34 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 1829.18 JULY,
  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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