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Daily Forex Technical Analysis Report - October 19, 2020

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

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Daily Forex Technical Analysis Report - October 19, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 19 October, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Japanese yen trades marginally lower as trade balance data misses expecta ons, Most Asian stock markets in green; gold hovers around $1,900 Asian Headlines: • U.K. HPI m/m stands at 1.1 pct vs 0.2 pct previous release. • Japan trade balance stands at 0.48T vs 0.36T previous release. • China GDP stands at 4.9 pct vs 3.2 pct previous release (expected 5.5 pct). • China industrial produc on stands at 6.9 pct vs 5.6 pct previous release (expected 5.8 pct). • China retail sales stand at 3.3 pct vs 0.5 pct previous release. • China unemployment rate stands at 5.4 pct vs 5.6 pct previous release (expected 5.5). Economic Data Ahead: • (0830 ET/1230 GMT) Canada Retail Sales, previous 4.3, expected 0.1. Economic Events Ahead: • (0800 ET/1200 GMT) Fed Chair Powell’s speech. • (0845 ET/1245 GMT) ECB President Lagarde’s speech. • (1030 ET/1430 GMT) Bank of Canada business outlook survey. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.08% to 93.76 points. USD/JPY: The Japanese yen trades marginally lower as trade balance data misses expecta ons. A sustained close above 105.40 will take the parity higher towards key resistance around 105.70, 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 105.16 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 in early Asia and hovers around key support at $0.7070 mark. The pair made intraday high at $0.7108 and low at $0.7071 marks. On the top side key resistances are seen at $0.7122, $0.7190, $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 $0.7070 will take the parity down towards key supports around $0.7056, $0.7002, $0.6969, $0.6922, $0.6861, $0.6833 and $0.6799 mark respec vely. NZD/USD: The kiwi trades marginally higher and stabilizes above $0.66 mark. Pair made intraday high at $0.6629 and low at $0.6601 mark. Key resistances are seen at $0.6621, $0.6673, $0.6710, $0.6749, $0.6789, $0.6824, $0.6867 and $0.6910 mark respec vely. Alterna vely, a consistent close below $0.6597 will drag the parity down towards key supports around $0.6576, $0.6527, $0.6499, $0.6476, $0.6420, $0.6380, $0.6356, $0.6289, $0.6240 mark respec vely. USD/INR: The Indian rupee consolidates around 73.37 mark against U.S. dollar. The pair made intraday high at 73.37 and low at 73.29 marks. 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 73.37, 73.57, 73.76, 74.10, 74.37, 74.70, 75.02, 75.20 and 75.39 marks respec vely. EUR/USD: The euro starts a new week on a flat note ahead of ECB President Lagarde’s speech. The pair made intraday high at $1.1725 and low at $1.1704 mark. A sustained close above $1.1750 tests key resistances at $1.1810, $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 $1.1700 will target key supports around $1.1688, $1.1662, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The pound strengthens no ceably on Monday and jumps above $1.29 mark. Today pair made intraday high at $1.2945 and low at $1.2889 mark. A sustained close above $1.2915 will drag the parity up towards $1.2945, $1.2976, $1.3040, $1.3092, $1.3122, $1.3154 and $1.3182 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 slightly up on Monday and hovers around $1,900 mark. Today pair made intraday high at $1,903 and low at $1,897 mark. A sustained close above $1,908 requires for the upside rally. On the other side, consistent close below $1,891 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 trades flat on Monday and stabilizes above $24.00 mark. Today pair made intraday high at $24.32 and low at $24.11 mark. A sustained close above $25.10 requires for upside rally. Key support levels are seen at $24.12, $23.87, $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 0.70920 S1 0.70706 Buy Above 0.71149 0.71256 0.70669 0.70669 0.70453 0.71149 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.70986 S2 0.70640 R3 0.71093 S3 0.70533 R4 0.71266 S4 0.70360 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.70813
  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 1.17382 S1 1.16984 Buy Above 1.17446 1.17583 1.16901 1.16901 1.16716 1.17446 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.17506 S2 1.16860 R3 1.17705 S3 1.16661 R4 1.18028 S4 1.16338 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.17183 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 1.29486 S1 1.28724 Buy Above 1.29802 1.30063 1.28572 1.28572 1.28324 1.29802 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.29721 S2 1.28489 R3 1.30102 S3 1.28108 R4 1.30718 S4 1.27492 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.29105 OCTOBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.32260 S1 1.31798 Buy Above 1.32181 1.32326 1.31567 1.31567 1.31336 1.32181 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.32402 S2 1.31656 R3 1.32633 S3 1.31425 R4 1.33006 S4 1.31052 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.32029 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 105.443 S1 105.243 Buy Above 105.525 105.623 105.158 105.158 105.046 105.525 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 105.505 S2 105.181 R3 105.605 S3 105.081 R4 105.767 S4 104.919 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 105.343 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 1909.59 S1 1897.25 Buy Above 1909.49 1914.28 1890.59 1890.59 1886.05 1909.49 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1913.39 S2 1893.45 R3 1919.56 S3 1887.28 R4 S4 1877.31 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1903.42 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 1929.53 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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