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Daily Forex Technical Analysis Report - October 14, 2020

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+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
14 October, 2020
Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Japanese yen remains almost unchanged despite lower than expected r...
AUD / USD
REPORTFROM:TPGLOBALFXOCTOBER,2020
Time Frame: H1
INDICATORS
Trends Down Trend
Moving Average (Period=75) Below M...
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Daily Forex Technical Analysis Report - October 14, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 14 October, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Japanese yen remains almost unchanged despite lower than expected revised industrial produc on data; Asian stock markets in red; gold stabilizes below $1,900 mark Asian Headlines: • Australia Westpac consumer sen ment stands at 11.9 pct vs 18.0 pct previous release. • Singapore GDP q/q stands at 7.9 pct vs -13.2 pct previous release. • South Korea interest rate remains unchanged at 0.5 pct. • Japan revised industrial produc on stands at 1.0 pct vs 1.7 pct previous release (expected 1.7). Economic Data Ahead: • (0500 ET/0900 GMT) Euro Industrial produc on, previous 4.1, expected 0.8. • (0830 ET/1230 GMT) U.S. PPI, previous 0.3, expected 0.2. • (0830 ET/1230 GMT) U.S. Core PPI, previous 0.4, expected 0.2. Economic Events Ahead: • (0900 ET/1300 GMT) U.K. MPC member Haldane’s speech. • (0900 ET/1300 GMT) U.S. FOMC member Clarida’s speech. • (1030 ET/1430 GMT) Canada Gov council member Lane’s speech. • (1030 ET/1430 GMT) U.S. FOMC member Quarles’s speech. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.01% to 93.53 points. USD/JPY: The Japanese yen remains almost unchanged a er revised industrial produc on data. A sustained close above 106.01 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 105.32 will drag the parity down towards 104.92, 104.55, 104.20, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie recovers slightly against U.S. dollar and stabilizes above $0.7150 mark. The pair made intraday high at $0.7174 and low at $0.7152 marks. On the top side key resistances are seen at $0.7222, $0.7240, $0.7290, $0.7340, $0.7370, $0.7422, $0.7462 and $0.7502 mark respec vely. On the other hand, a consistent close below $0.7158 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 rises in early Asia and hovers around $0.6660 mark. Pair made intraday high at $0.6665 and low at $0.6643 mark. Key resistances are seen at $0.6673, $0.6710, $0.6749, $0.6789, $0.6824, $0.6867 and $0.6910 mark respec vely. Alterna vely, a consistent close below $0.6644 will drag the parity down towards key supports around $0.6627, $0.6570, $0.6499, $0.6476, $0.6420, $0.6380, $0.6356, $0.6289, $0.6240 mark respec vely. USD/INR: The Indian rupee trades marginally higher ahead of India’s WPI infla on data and remains well supported above 73.00 mark. The pair made intraday high at 73.36 and low at 73.29 mark. A sustained close below 72.87 marks will drag the parity down towards 72.65, 72.40 and 72.12 mark respec vely. On the top side key resistances are seen at 73.36, 73.57, 73.76, 74.10, 74.37, 74.70, 75.02, 75.20 and 75.39 marks respec vely. EUR/USD: The euro trades flat on Wednesday ahead of industrial produc on data. The pair made intraday high at $1.1751 and low at $1.1735 mark. A sustained close above $1.1810 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 $1.1740 will target key supports around $1.1690, $1.1660, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The pound moves in s ff boundaries on Wednesday. Today pair made intraday high at $1.2943 and low at $1.2919 mark. A sustained close above $1.3063 will drag the parity up towards $1.3092, $1.3122, $1.3154 and $1.3182 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 depreciated dras cally during U.S. session and today touched $1,882 mark in early Asia. Today pair made intraday high at $1,897 and low at $1,882 mark. A sustained close above $1,892 requires for the upside rally. On the other side, consistent close below $1,892 will check key supports as well. Key support levels are seen around $1,882, $1,876, $1,864, $1,857, $$1,849, $1,840, $1,822, $1,809 and $1,787 mark respec vely. Key resistances are seen at $1902, $1,918, $1,922, $1,932, $1,940, $1,947, $1,957 and $1,972 marks respec vely. XAG/USD (Silver): Silver takes halt around $23.96 mark and currently stabilizes above $24.10 mark. Today pair made intraday high at $24.27 and low at $23.87 mark. A sustained close above $25.10 requires for upside rally. Key support levels are seen at $23.83, $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 $24.52, $24.76, $25.10, $25.53, $25.81 and $25.94 marks respec vely.
  3. 3. AUD / USD REPORTFROM:TPGLOBALFXOCTOBER,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 0.71968 S1 0.71500 Buy Above 0.71952 0.72151 0.71471 0.71471 0.71323 0.71952 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.72112 S2 0.71356 R3 0.72346 S3 0.71122 R4 0.72724 S4 0.70744 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.71734
  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 1.17953 S1 1.17303 Buy Above 1.17715 1.17986 1.17194 1.17194 1.16966 1.17715 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18155 S2 1.17101 R3 1.18480 S3 1.16776 R4 1.19007 S4 1.16249 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.17628 OCTOBER,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 1.30302 S1 1.29184 Buy Above 1.30059 1.30439 1.29031 1.29031 1.28764 1.30059 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.30648 S2 1.28838 R3 1.31207 S3 1.28279 R4 1.32112 S4 1.27374 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.29743 OCTOBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.31454 S1 1.31088 Buy Above 1.31597 1.31779 1.31175 1.31175 1.31017 1.31597 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.31566 S2 1.30976 R3 1.31749 S3 1.30793 R4 1.32044 S4 1.30498 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.31271 Trend Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 OCTOBER,2020
  7. 7. USD /JPY REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 105.554 S1 105.318 Buy Above 105.603 105.750 105.225 105.225 105.074 105.603 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 105.628 S2 105.244 R3 105.746 S3 105.126 R4 105.938 S4 104.934 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 105.436 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 OCTOBER,2020
  8. 8. XAU / [GOLD]USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1915.73 S1 1886.01 Buy Above 1909.49 1917.51 1881.56 1881.56 1873.88 1909.49 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1924.91 S2 1876.83 R3 1939.77 S3 1861.97 R4 S4 1837.93 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1900.87 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 1963.81 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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