Daily Forex Technical Analysis Report - November 16, 2020

T

Let's review all the major instrument analysis including: #audusd #eurusd #gbpusd #usdcad #usdjpy #gold #xauusd

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REPORTFROM:TPGLOBALFX
16 November, 2020
Daily Analysis Report
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Asian Bulle n: Japanese yen rises a er mixed economic data, Asian stock markets in green, gold up
Asian Headlines:
• Japan Prelim GDP price stands index stands at 1.1 vs 1.3 pct previous release.
• Japan Prelim GDP q/q stands at 5.0 pct vs -7.9 pct previous release.
• Japan revised industrial produc on stands at 3.9 pct vs 4.0 pct previous release.
• U.K. HPI stands at -0.5 pct vs 1.1 pct previous release.
• China retail sale stands at 4.3 pct vs 3.3 pct previous release.
• China unemployment rate stands at 5.3 pct vs 5.4 pct previous release.
Economic Data Ahead:
• (1330 GMT/1900 IST) Canada Manufacturing Sales, previous -2.0, expected 1.7.
• (1330 GMT/1900 IST) U.S. Empire state manufacturing index, previous 10.5, expected 13.8.
Economic Events Ahead:
• (0840 GMT/1410 IST) RBA Governor Lowe Speech.
• (0900 GMT/1430 IST) ECB Financial Stability Review.
• (1300 GMT/1830 IST) ECB President Lagarde Speech.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.20% to 92.57 points.
USD/JPY: The Japanese yen rises in early Asia a er mixed economic data. A sustained close above 104.55 will take the parity higher towards key resistance around
105.22, 105.64, 105.92, 106.22 and 106.76 mark respec vely. On the other side, a consistent close below 104.55 will drag the parity down towards 104.48, 104.22,
103.92, 103.50 and 103.17 marks respec vely.
AUD/USD: The Aussie trades marginally higher in early Asia and stabilizes back above $0.7250 mark. The pair made intraday high at $0.7298 and low at $0.7263 marks.
On the top side key resistances are seen at $0.7290, $0.7347, $0.7376, $0.74 and $0.7426 mark respec vely. On the other hand, a consistent close below $0.7231 will
take the parity down towards key supports around $0.7220, $0.7190, $0.7170, $0.7122, $0.7090 and $0.7052 mark respec vely.
NZD/USD: The Kiwi strengthens sharply and touches $0.6889 mark in Asian hours. Pair made intraday high at $0.6889 and low at $0.6840 mark. Key resistances are seen
at $0.6914, $0.6947 and $0.6988 mark respec vely. Alterna vely, a consistent close below $0.6840 will drag the parity down towards key supports around $0.6783,
$0.6750, $0.6690, $0.6610, $0.6578, $0.6527 and $0.6499 mark respec vely.
USD/INR: The Indian rupee trades in narrow range due to Diwali Fes val holiday. The pair made intraday high at 74.51 and low at 74.40 marks. A sustained close below
74.50 marks will drag the parity down towards 74.22, 73.90, 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
74.65, 75.02, 75.27, 75.39 and 75.62 marks respec vely.
EUR/USD: The euro appreciates slightly ahead of ECB Financial Stability Review report and ECB President Lagarde’s speech. The pair made intraday high at $1.1854 and
low at $1.1829 mark. A sustained close above $1.1873 tests key resistances at $1.1936, $1.1975, $1.2022, $1.2047, $1.2082 and $1.2120 mark respec vely. On the other
side, a sustained close below $1.1770 will target key supports around $1.1740, $1.1672, $1.1640, $1.1590, $1.1540 and $1.1526 marks respec vely.
GBP/USD: The pound rises on Monday and stabilizes above $1.32 mark. Today pair made intraday high at $1.3233 and low at $1.3173 mark. A sustained close above
$1.3191 will drag the parity up towards $1.3240, $1.3280, $1.3322, $1.3354 and $1.3382 mark respec vely. Key support levels are seen at $1.3170, $1.3122, $1.3090,
$1.3054, $1.3002 and $1.2950 mark respec vely.
Commodity Trend:
XAU/USD (GOLD): Gold starts a new week on a posi ve note and remains well supported above $1,890 mark. Today pair made intraday high at $1,899 and low at $1,886
mark. A sustained close above $1,902 requires for the upside rally. On the other side, consistent close below $1,861 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 $1,892, $1,902, $1,917, $1,922, $1,940, $1,947,
$1,967, $1,974, $1,982, $1,991, $1,999 and $2,000 marks respec vely.
XAG/USD (Silver): Silver appreciates and touches $25.07 mark in opening hours. Today pair made intraday high at $25.07 and low at $24.64 mark. A sustained close
above $24.66 requires for upside rally. Key support levels are seen at $24.50, $23.90, $23.65, $23.22, $22.90, $22.77 and $22.40 marks respec vely. Key resistances are
seen at $25.22, $25.47, $25.90 and $26.08 marks respec vely.
AUD / USD
REPORTFROM:TPGLOBALFXNOVEMBER,2020
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 0.72739 S1 0.72345
Buy Above 0.73027
0.73171
0.72500
0.72500
0.72353
0.73027
– Take Profit
– Stop Loss
Sell Below
– Take Profit
– Stop Loss
R2 0.72861 S2 0.72223
R3 0.73058 S3 0.72026
R4 0.73377 S4 0.71707
Conclusion
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0.72542
EUR / USD
REPORTFROM:TPGLOBALFX
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 1.18372 S1 1.18078
Buy Above 1.18589
1.18716
1.17962
1.17962
1.17822
1.18589
– Take Profit
– Stop Loss
Sell Below
– Take Profit
– Stop Loss
R2 1.18463 S2 1.17987
R3 1.18610 S3 1.17840
R4 1.18848 S4 1.17602
Conclusion
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1.18225
NOVEMBER,2020
GBP / USD
REPORTFROM:TPGLOBALFX
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 1.32038 S1 1.31320
Buy Above 1.32424
1.32640
1.31518
1.31518
1.31319
1.32424
– Take Profit
– Stop Loss
Sell Below
– Take Profit
– Stop Loss
R2 1.32261 S2 1.31097
R3 1.32620 S3 1.30738
R4 1.33202 S4 1.30156
Conclusion
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analysis@tpglobalfx.com
1.31679
NOVEMBER,2020
USD /CAD
REPORTFROM:TPGLOBALFX
Time Frame: H1
INDICATORS H 1
FIBO Levels PIVOT
R1 1.31619 S1 1.31189
Buy Above 1.31520
1.31697
1.30891
1.30891
1.30603
1.31520
– Take Profit
– Stop Loss
Sell Below
– Take Profit
– Stop Loss
R2 1.31751 S2 1.31057
R3 1.31966 S3 1.30842
R4 1.32313 S4 1.30495
Conclusion
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1.31404
Trend Down Trend
Moving Average (Period=75) Below MA
RIS (Period=26) Below RIS LEVEL 50
NOVEMBER,2020
USD /JPY
REPORTFROM:TPGLOBALFX
Time Frame: H1
INDICATORS H 1
FIBO Levels PIVOT
R1 104.995 S1 104.547
Buy Above 104.962
105.073
104.400
104.400
104.262
104.962
– Take Profit
– Stop Loss
Sell Below
– Take Profit
– Stop Loss
R2 105.134 S2 104.408
R3 105.358 S3 104.184
R4 105.721 S4 103.821
Conclusion
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104.771
Trends Down Trend
Moving Average (Period=75) Below MA
RIS (Period=26) Below RIS LEVEL 50
NOVEMBER,2020
XAU / [GOLD]USD
REPORTFROM:TPGLOBALFX
Time Frame: H1
INDICATORS H 1
FIBO Levels PIVOT
R1 1895.29 S1 1877.87
Buy Above 1900.17
1906.24
1879.71
1879.71
1873.24
1900.17
– Take Profit
– Stop Loss
Sell Below
– Take Profit
– Stop Loss
R2 1900.66 S2 1872.50
R3 1909.37 S3 1863.79
R4 S4 1849.71
Conclusion
+1 7754 366 970
analysis@tpglobalfx.com
1886.58
Trends Up Trend
Moving Average (Period=75) Above MA
RIS (Period=26) Above RIS LEVEL 50
1923.45
NOVEMBER,2020
Thank
you!
Info@tpglobalfx.com
www.tpglobalfx.com
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Daily Forex Technical Analysis Report - November 16, 2020

  • 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 16 November, 2020 Daily Analysis Report
  • 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Japanese yen rises a er mixed economic data, Asian stock markets in green, gold up Asian Headlines: • Japan Prelim GDP price stands index stands at 1.1 vs 1.3 pct previous release. • Japan Prelim GDP q/q stands at 5.0 pct vs -7.9 pct previous release. • Japan revised industrial produc on stands at 3.9 pct vs 4.0 pct previous release. • U.K. HPI stands at -0.5 pct vs 1.1 pct previous release. • China retail sale stands at 4.3 pct vs 3.3 pct previous release. • China unemployment rate stands at 5.3 pct vs 5.4 pct previous release. Economic Data Ahead: • (1330 GMT/1900 IST) Canada Manufacturing Sales, previous -2.0, expected 1.7. • (1330 GMT/1900 IST) U.S. Empire state manufacturing index, previous 10.5, expected 13.8. Economic Events Ahead: • (0840 GMT/1410 IST) RBA Governor Lowe Speech. • (0900 GMT/1430 IST) ECB Financial Stability Review. • (1300 GMT/1830 IST) ECB President Lagarde Speech. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.20% to 92.57 points. USD/JPY: The Japanese yen rises in early Asia a er mixed economic data. A sustained close above 104.55 will take the parity higher towards key resistance around 105.22, 105.64, 105.92, 106.22 and 106.76 mark respec vely. On the other side, a consistent close below 104.55 will drag the parity down towards 104.48, 104.22, 103.92, 103.50 and 103.17 marks respec vely. AUD/USD: The Aussie trades marginally higher in early Asia and stabilizes back above $0.7250 mark. The pair made intraday high at $0.7298 and low at $0.7263 marks. On the top side key resistances are seen at $0.7290, $0.7347, $0.7376, $0.74 and $0.7426 mark respec vely. On the other hand, a consistent close below $0.7231 will take the parity down towards key supports around $0.7220, $0.7190, $0.7170, $0.7122, $0.7090 and $0.7052 mark respec vely. NZD/USD: The Kiwi strengthens sharply and touches $0.6889 mark in Asian hours. Pair made intraday high at $0.6889 and low at $0.6840 mark. Key resistances are seen at $0.6914, $0.6947 and $0.6988 mark respec vely. Alterna vely, a consistent close below $0.6840 will drag the parity down towards key supports around $0.6783, $0.6750, $0.6690, $0.6610, $0.6578, $0.6527 and $0.6499 mark respec vely. USD/INR: The Indian rupee trades in narrow range due to Diwali Fes val holiday. The pair made intraday high at 74.51 and low at 74.40 marks. A sustained close below 74.50 marks will drag the parity down towards 74.22, 73.90, 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 74.65, 75.02, 75.27, 75.39 and 75.62 marks respec vely. EUR/USD: The euro appreciates slightly ahead of ECB Financial Stability Review report and ECB President Lagarde’s speech. The pair made intraday high at $1.1854 and low at $1.1829 mark. A sustained close above $1.1873 tests key resistances at $1.1936, $1.1975, $1.2022, $1.2047, $1.2082 and $1.2120 mark respec vely. On the other side, a sustained close below $1.1770 will target key supports around $1.1740, $1.1672, $1.1640, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The pound rises on Monday and stabilizes above $1.32 mark. Today pair made intraday high at $1.3233 and low at $1.3173 mark. A sustained close above $1.3191 will drag the parity up towards $1.3240, $1.3280, $1.3322, $1.3354 and $1.3382 mark respec vely. Key support levels are seen at $1.3170, $1.3122, $1.3090, $1.3054, $1.3002 and $1.2950 mark respec vely. Commodity Trend: XAU/USD (GOLD): Gold starts a new week on a posi ve note and remains well supported above $1,890 mark. Today pair made intraday high at $1,899 and low at $1,886 mark. A sustained close above $1,902 requires for the upside rally. On the other side, consistent close below $1,861 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 $1,892, $1,902, $1,917, $1,922, $1,940, $1,947, $1,967, $1,974, $1,982, $1,991, $1,999 and $2,000 marks respec vely. XAG/USD (Silver): Silver appreciates and touches $25.07 mark in opening hours. Today pair made intraday high at $25.07 and low at $24.64 mark. A sustained close above $24.66 requires for upside rally. Key support levels are seen at $24.50, $23.90, $23.65, $23.22, $22.90, $22.77 and $22.40 marks respec vely. Key resistances are seen at $25.22, $25.47, $25.90 and $26.08 marks respec vely.
  • 3. AUD / USD REPORTFROM:TPGLOBALFXNOVEMBER,2020 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 0.72739 S1 0.72345 Buy Above 0.73027 0.73171 0.72500 0.72500 0.72353 0.73027 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.72861 S2 0.72223 R3 0.73058 S3 0.72026 R4 0.73377 S4 0.71707 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.72542
  • 4. EUR / USD REPORTFROM:TPGLOBALFX 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 1.18372 S1 1.18078 Buy Above 1.18589 1.18716 1.17962 1.17962 1.17822 1.18589 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18463 S2 1.17987 R3 1.18610 S3 1.17840 R4 1.18848 S4 1.17602 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.18225 NOVEMBER,2020
  • 5. GBP / USD REPORTFROM:TPGLOBALFX 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 1.32038 S1 1.31320 Buy Above 1.32424 1.32640 1.31518 1.31518 1.31319 1.32424 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.32261 S2 1.31097 R3 1.32620 S3 1.30738 R4 1.33202 S4 1.30156 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.31679 NOVEMBER,2020
  • 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.31619 S1 1.31189 Buy Above 1.31520 1.31697 1.30891 1.30891 1.30603 1.31520 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.31751 S2 1.31057 R3 1.31966 S3 1.30842 R4 1.32313 S4 1.30495 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.31404 Trend Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 NOVEMBER,2020
  • 7. USD /JPY REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 104.995 S1 104.547 Buy Above 104.962 105.073 104.400 104.400 104.262 104.962 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 105.134 S2 104.408 R3 105.358 S3 104.184 R4 105.721 S4 103.821 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 104.771 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 NOVEMBER,2020
  • 8. XAU / [GOLD]USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1895.29 S1 1877.87 Buy Above 1900.17 1906.24 1879.71 1879.71 1873.24 1900.17 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1900.66 S2 1872.50 R3 1909.37 S3 1863.79 R4 S4 1849.71 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1886.58 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 1923.45 NOVEMBER,2020
  • 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