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Daily Forex Technical Analysis Report - October 08, 2020

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+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
08 October, 2020
Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Japanese yen hits fresh 3 – week low in early Asia despite robust C...
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 08, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 08 October, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Japanese yen hits fresh 3 – week low in early Asia despite robust Current account data; Asian stock markets in green; gold trades flat Asian Headlines: • U.K. RICS home price balance stands at 61 pct vs 44 pct previous release (expected 39). • Japan Current account stands at 1.65T vs 0.96T previous release (expected 1.50T). • New Zealand ANZ business confidence stands at -14.5 vs -28.5 previous release. • U.S. consumer credit stands at -7.22B vs 14.67B previous release. • South Korea Current account stands at 6.57B vs 7.45B previous release. Economic Data Ahead: • (0145 ET/0545 GMT) Swiss unemployment rate, previous 3.4, expected 3.4. • (0200 ET/0600 GMT) Euro German trade balance, previous 18.0B, expected 17.1B. • (0815 ET/1215 GMT) Canada housing starts, previous 262K, expected 240K. • (0830 ET/1230 GMT) U.S. unemployment claims weekly, previous 837K, expected 820K. Economic Events Ahead: • (0325 ET/0725 GMT) U.K. BoE Gov Bailey’s speech. • (0430 ET/0830 GMT) U.K. FPC mee ng minutes. • (0430 ET/0830 GMT) U.K. FPC statement. • (0530 ET/0930 GMT) Swiss Chairman Jordan’s speech. • (0730 ET/1130 GMT) ECB Monetary policy mee ng accounts. • (0830 ET/1230 GMT) Bank of Canada Governor Macklem’s speech. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.04% to 93.60 points. USD/JPY: The Japanese yen falls no ceably on Thursday despite robust Current account data and hits fresh 3 – week low at 106.10 mark against U.S. dollar. A sustained close above 105.94 will take the parity higher towards key resistance around 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 105.94 will drag the parity down towards 105.70, 105.22, 104.92, 104.55, 104.20, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie rises gradually and remains well supported above $0.7100 mark. The pair made intraday high at $0.7144 and low at $0.7123 marks. On the top side key resistances are seen at $0.7182, $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 $0.7100 will take the parity down towards key supports around $0.7090, $0.7068, $0.7002, $0.6969, $0.6922, $0.6861, $0.6833 and $0.6799 mark respec vely. NZD/USD: The kiwi falls in early Asia and touches $0.6547 mark. Pair made intraday high at $0.6582 and low at $0.6547 mark. Key resistances are seen at $0.6602, $0.6657, $0.6749, $0.6789, $0.6824, $0.6867 and $0.6910 mark respec vely. Alterna vely, a consistent close below $0.6577 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 exhibits range bound movement and consolidates around 73.00 mark. The pair made intraday high at 73.31 and low at 73.17 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 73.57, 73.76, 74.10, 74.37, 74.70, 75.02, 75.20 and 75.39 marks respec vely. EUR/USD: The euro appreciates on Thursday and stabilizing above $1.1750 mark. The pair made intraday high at $1.1771 and low at $1.1758 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 strengthens against U.S. dollar and trading around $1.2930 mark in early Asia. Today pair made intraday high at $1.2934 and low at $1.2906 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 $1.29, $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 a er U.S. FOMC mee ng minutes. Today pair made intraday high at $1,889 and low at $1,883 mark. A sustained close above $1,913 requires for the upside rally. On the other side, consistent close below $1,878 will check key supports as well. Key support levels are seen around $1,872, $1,864, $1,857, $$1,849, $1,840, $1,822, $1,809 and $1,787 mark respec vely. Key resistances are seen at $1,902, $1,908, $1,918, $1,922, $1,932, $1,940, $1,947, $1,957 and $1,972 marks respec vely. XAG/USD (Silver): Silver moves in s ff boundaries and hovers around $23.80 mark. Today pair made intraday high at $23.90 and low at $23.71 mark. A sustained close above $24.38 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 $24.17, $24.38, $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 0.71500 S1 0.71070 Buy Above 0.71634 0.71869 0.70913 0.70913 0.70692 0.71634 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.71632 S2 0.70938 R3 0.71847 S3 0.70723 R4 0.72194 S4 0.70376 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.71285
  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 1.17779 S1 1.17345 Buy Above 1.17852 1.17971 1.17263 1.17263 1.17099 1.17852 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.17913 S2 1.17211 R3 1.18130 S3 1.16994 R4 1.18481 S4 1.16643 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.17562 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 1.29293 S1 1.28647 Buy Above 1.29569 1.29856 1.28652 1.28652 1.28384 1.29569 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.29492 S2 1.28448 R3 1.29815 S3 1.28125 R4 1.30337 S4 1.27603 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.28970 OCTOBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.33163 S1 1.32511 Buy Above 1.33018 1.33219 1.32347 1.32347 1.32039 1.33018 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.33365 S2 1.32309 R3 1.33691 S3 1.31983 R4 1.34219 S4 1.31455 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.32837 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 106.080 S1 105.694 Buy Above 106.127 106.365 105.629 105.629 105.414 106.127 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 106.200 S2 105.574 R3 106.393 S3 105.381 R4 106.706 S4 105.068 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 105.887 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 1895.66 S1 1876.50 Buy Above 1894.34 1904.80 1872.63 1872.63 1864.53 1894.34 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1901.58 S2 1870.58 R3 1911.16 S3 1861.00 R4 S4 1845.50 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1886.08 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 1926.66 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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