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Daily Forex Technical Analysis Report - October 06, 2020

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+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
06 October, 2020
Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Aussie remains slightly vola le a er RBA’s cash rate decision; Asia...
AUD / USD
REPORTFROM:TPGLOBALFXOCTOBER,2020
Time Frame: H1
INDICATORS
Trends Up Trend
Moving Average (Period=75) Above MA
...
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Daily Forex Technical Analysis Report - October 06, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 06 October, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Aussie remains slightly vola le a er RBA’s cash rate decision; Asian stock markets in green; gold trades flat ahead of Fed Chair Powell’s speech Asian Headlines: • RBA keeps interest rate unchanged at 0.25 pct. • Australia trade balance stands at 2.64B vs 4.65B previous release (expected 5.05B). • South Korea CPI stands at 0.7 pct m/m vs 0.6 pct previous release (expected 0.4). Economic Data Ahead: • (0200 ET/0600 GMT) German factory orders, previous 2.8, expected 3.0. • (0430 ET/0830 GMT) U.K. construc on PMI, previous 54.6, expected 54.0. • (0830 ET/1230 GMT) Canada Trade balance, previous -2.5B • (0830 ET/1230 GMT) U.S. Trade balance, previous -63.6B, expected -66.2B. • (1000 ET/1400 GMT) U.S. JOLTS job opening, previous 6.62M, expected 6.50M. Economic Events Ahead: • All Day ECOFIN Mee ngs. • (0435 ET/0835 GMT) ECB President Lagarde’s speech. • (1040 ET/1440 GMT) U.S. Fed Chair Powell’s speech. • (1145 ET/1545 GMT) U.S. FOMC member Harker’s speech. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.14% to 93.38 points. USD/JPY: The Japanese yen moves in s ff boundaries and remains well supported above 105.50 mark. A sustained close above 105.74 will take the parity higher towards key resistance around 105.90, 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 105.30 will drag the parity down towards 104.92, 104.55, 104.20, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie remains slightly vola le a er RBA’s cash rate decision. RBA keeps interest rate unchanged and Australia released trade balance data with nega ve numbers too. The pair made intraday high at $0.7208 and low at $0.7168 marks. On the top side key resistances are seen at $0.7222, $0.7290, $0.7340, $0.7370, $0.7422, $0.7462 and $0.7502 mark respec vely. On the other hand, a consistent close below $0.7160 will take the parity down towards key supports around $0.7120, $0.7090, $0.7068, $0.7002, $0.6969, $0.6922, $0.6861, $0.6833 and $0.6799 mark respec vel. NZD/USD: The kiwi exhibits range bound movement and consolidates around $0.6650 mark. Pair made intraday high at $0.6658 and low at $0.6633 mark. Key resistances are seen at $0.6657, $0.6749, $0.6789, $0.6824, $0.6867 and $0.6910 mark respec vely. Alterna vely, a consistent close below $0.6612 will drag the parity down towards key supports around $0.6540, $0.6499, $0.6476, $0.6420, $0.6380, $0.6356, $0.6289, $0.6240 mark respec vely. USD/INR: The Indian rupee trades marginally lower and fails to find support below 73.00 mark. The pair made intraday high at 73.16 and low at 73.06 mark. A sustained close below 73.02 marks will drag the parity down towards 72.88, 72.65, 72.40 and 72.12 mark respec vely. On the top side key resistances are seen at 73.54, 73.76, 74.10, 74.37, 74.70, 75.02, 75.20 and 75.39 marks respec vely. EUR/USD: The euro trades flat ahead of ECB President Lagarde’s speech as it is scheduled twice for the day. The pair made intraday high at $1.1798 and low at $1.1777 mark. A sustained close above $1.1781 tests key resistances at $1.1798, $1.1837, $1.1936, $1.1975, $1.2022, $1.2047, $1.2082 and $1.2120 mark respec vely. On the other side, a sustained close below $1.1710 will target key supports around $1.1690, $1.1660, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The pound rises gradually against U.S. dollar and touches key resistance at $1.3002 mark in early Asia. Today pair made intraday high at $1.3002 and low at $1.2970 mark. A sustained close above $1.2976 will drag the parity up towards $1.3002, $1.3070 and $1.3102 mark respec vely. Key support levels are seen at $1.2912, $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 flat on Tuesday ahead of Fed Chair Powell’s speech. Today pair made intraday high at $1,914 and low at $1,908 mark. A sustained close above $1,913 requires for the upside rally. On the other side, consistent close below $1,899 will check key supports as well. Key support levels are seen around $1,885, $1,876, $1,862, $1,854, $1,849, $1,840, $1,822, $1,809 and $1,787 mark respec vely. Key resistances are seen at $1,918, $1,922, $1,932, $1,940, $1,947, $1,957 and $1,972 marks respec vely. XAG/USD (Silver): Silver moves in rigid boundaries. Today pair made intraday high at $24.43 and low at $24.21 mark. A sustained close above $24.38 requires for upside rally. Key support levels are seen at $23.90, $23.68, $23.22, $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 $24.52, $24.76, $25.53, $25.81 and $25.94 marks respec vely.
  3. 3. AUD / USD REPORTFROM:TPGLOBALFXOCTOBER,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 0.71904 S1 0.71620 Buy Above 0.72119 0.72220 0.71682 0.71682 0.71566 0.72119 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.71992 S2 0.71532 R3 0.72134 S3 0.71390 R4 0.72364 S4 0.71160 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.71762
  4. 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 1.17971 S1 1.17269 Buy Above 1.18070 1.18275 1.17415 1.17415 1.17198 1.18070 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18187 S2 1.17053 R3 1.18538 S3 1.16702 R4 1.19105 S4 1.16135 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.17620 OCTOBER,2020
  5. 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 1.29920 S1 1.29222 Buy Above 1.30176 1.30448 1.29445 1.29445 1.29156 1.30176 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.30135 S2 1.29007 R3 1.30484 S3 1.28658 R4 1.31048 S4 1.28094 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.29571 OCTOBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.32894 S1 1.32532 Buy Above 1.32806 1.32919 1.32352 1.32352 1.32222 1.32806 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.33007 S2 1.32419 R3 1.33188 S3 1.32238 R4 1.33482 S4 1.31944 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.32173 Trend Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 OCTOBER,2020
  7. 7. USD /JPY REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 105.797 S1 105.273 Buy Above 105.846 106.035 105.344 105.344 105.179 105.846 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 105.929 S2 105.241 R3 106.141 S3 105.029 R4 106.485 S4 104.685 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 105.585 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 OCTOBER,2020
  8. 8. XAU / [GOLD]USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1918.42 S1 1894.18 Buy Above 1919.34 1924.50 1902.54 1902.54 1897.00 1919.34 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1925.92 S2 1886.68 R3 1938.04 S3 1874.56 R4 S4 1854.94 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1906.30 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 1957.66 OCTOBER,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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