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Daily Forex Technical Analysis Report - November 02, 2020

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+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
02 November, 2020
Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Japanese yen trades marginally lower despite higher than expected m...
AUD / USD
REPORTFROM:TPGLOBALFXNOVEMBER,2020
Time Frame: H1
INDICATORS
Trends Down Trend
Moving Average (Period=75) Below ...
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Daily Forex Technical Analysis Report - November 02, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 02 November, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Japanese yen trades marginally lower despite higher than expected manufacturing PMI data; Asian stock markets mixed; gold hovers around $1,880 mark Asian Headlines: • Australia AIG manufacturing index stands at 56.3 vs 46.7 previous release. • New Zealand building consents stands at 3.6 pct vs 0.2 pct previous release. • Australia building approvals stands at 15.4 pct vs -2.3 pct previous release (expected 1.5). • Japan final manufacturing PMI stands at 48.7 vs 48.0 previous release. • China Caixin manufacturing PMI stands at 53.6 vs 53.0 previous release. Economic Data Ahead: • (0430 ET/0830 GMT) Swiss manufacturing PMI, previous 53.1, expected 53.6. • (0445 ET/0845 GMT) Italy manufacturing PMI, previous 53.2, expected 53.9. • (0450 ET/0850 GMT) France manufacturing PMI, previous 51.0, expected 51.0. • (0455 ET/0855 GMT) German manufacturing PMI, previous 58.0, expected 58.0. • (0500 ET/0900 GMT) Euro manufacturing PMI, previous 54.4, expected 54.4. • (0530 ET/0930 GMT) U.K. manufacturing PMI, previous 53.3. • (1030 ET/1430 GMT) Canada manufacturing PMI, previous 56.0. • (1100 ET/1500 GMT) U.S. ISM manufacturing PMI, previous 55.4, expected 55.6. Economic Events Ahead: • No key 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 0.12% to 94.15 points. USD/JPY: The Japanese yen falls despite robust manufacturing PMI data. A sustained close above 104.57 will take the parity higher towards key resistance around 104.92, 105.20, 105.94, 106.22, 106.92, 107.48, 107.92, 108.22, 108.54, 109.20 and 109.72 mark respec vely. On the other side, a consistent close below 104.32 will drag the parity down towards 104.20, 103.97, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie trades flat ahead of RBA’s interest rate decision due tomorrow. The pair made intraday high at $0.7025 and low at $0.6995 marks. On the top side key resistances are seen at $0.7090, $0.7122, $0.7170, $0.7190, $0.7222, $0.7240 and $0.7290 mark respec vely. On the other hand, a consistent close below $0.7026 will take the parity down towards key supports around $0.7002, $0.6969, $0.6922, $0.6861, $0.6833 and $0.6799 mark respec vely. NZD/USD: The Kiwi falls gradually on Monday and hovers around $0.66 mark. Pair made intraday high at $0.6610 and low at $0.6590 mark. Key resistances are seen at $0.6710, $0.6749, $0.6789, $0.6824, $0.6867 and $0.6910 mark respec vely. Alterna vely, a consistent close below $0.6628 will drag the parity down towards key supports around $0.6602, $0.6578, $0.6527, $0.6499, $0.6476, $0.6420, $0.6380, $0.6356, $0.6289, $0.6240 mark respec vely. USD/INR: The Indian rupee depreciates and stabilizes above 74.00 mark. The pair made intraday high at 74.46 and low at 74.33 marks. A sustained close below 74.46 marks will drag the parity down towards 73.87, 73.57, 73.20, 72.87, 72.65, 72.40 and 72.12 mark respec vely. On the top side key resistances are seen at 74.54, 74.70, 75.02, 75.20 and 75.39 marks respec vely. EUR/USD: The euro starts a new week on slightly nega ve note. The pair made intraday high at $1.1648 and low at $1.1630 mark. A sustained close above $1.1846 tests key resistances at $1.1876, $1.1936, $1.1975, $1.2022, $1.2047, $1.2082 and $1.2120 mark respec vely. On the other side, a sustained close below $1.1645 will target key supports around $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The pound moves in rigid boundaries and trading around $1.29 mark. Today pair made intraday high at $1.2939 and low at $1.2899 mark. A sustained close above $1.2945 will drag the parity up towards $1.2965, $1.3020, $1.3070, $1.3102, $1.3152, $1.3176, $1.3224 and $1.3248 mark respec vely. Key support levels are seen at $1.2889, $1.2854, $1.2822, $1.2752, $1.2723, $1.2675, $1.2632, $1.2602 and $1.2570 mark respec vely. Commodity Trend: XAU/USD (GOLD): Gold trades slightly up and hovers around $1,880 mark. Today pair made intraday high at $1,885 and low at $1,873 mark. A sustained close above $1,908 requires for the upside rally. On the other side, consistent close below $1,867 will check key supports as well. Key support levels are seen around $1,857, $1,849, $1,840, $1,822, $1,809 and $1,787 mark respec vely. Key resistances are seen at $1,887, $1,902, $1,914, $1,922, $1,927, $1,932, $1,940, $1,947, $1,957 and $1,972 marks respec vely. XAG/USD (Silver): Silver appreciates in early Asia and trading around $23.90 mark. Today pair made intraday high at $24.03 and low at $23.39 mark. A sustained close above $25.04 requires for upside rally. Key support levels are seen at $23.22, $22.90, $22.77, $22.40, $22.12, $21.90, $21.68, $21.22, $20.50 and $20.02 marks respec vely. Key resistances are seen at $24.67, $24.85, $25.10, $25.53, $25.81 and $25.94 marks respec vely.
  3. 3. AUD / USD REPORTFROM:TPGLOBALFXNOVEMBER,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 0.70597 S1 0.70133 Buy Above 0.70538 0.70735 0.69858 0.69858 0.69619 0.70538 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.70741 S2 0.69989 R3 0.70973 S3 0.69757 R4 0.71349 S4 0.69381 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.70365
  4. 4. EUR / USD REPORTFROM:TPGLOBALFX 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 1.16874 S1 1.16384 Buy Above 1.16812 1.16989 1.16210 1.16210 1.16021 1.16812 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.17025 S2 1.16233 R3 1.17270 S3 1.15988 R4 1.17666 S4 1.15592 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.16629 NOVEMBER,2020
  5. 5. GBP / USD REPORTFROM:TPGLOBALFX 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 1.29792 S1 1.29110 Buy Above 1.29852 1.30249 1.28671 1.28671 1.28214 1.29852 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.30002 S2 1.28900 R3 1.30343 S3 1.28559 R4 1.30894 S4 1.28008 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.29451 NOVEMBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.33434 S1 1.32910 Buy Above 1.33903 1.34337 1.32536 1.32536 1.32253 1.33903 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.33596 S2 1.32748 R3 1.33858 S3 1.32486 R4 1.34282 S4 1.32062 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.33172 Trend Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 NOVEMBER,2020
  7. 7. USD /JPY REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 104.742 S1 104.270 Buy Above 104.863 105.054 104.453 104.453 104.233 104.863 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 104.887 S2 104.125 R3 105.123 S3 103.889 R4 105.504 S4 103.508 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 104.506 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 NOVEMBER,2020
  8. 8. XAU / [GOLD]USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1887.80 S1 1867.76 Buy Above 1886.97 1894.09 1865.15 1865.15 1859.86 1886.97 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1893.05 S2 1861.79 R3 1902.71 S3 1852.13 R4 S4 1836.50 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1877.42 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 1918.34 NOVEMBER,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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