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Daily Forex Technical Analysis Report - October 20, 2020

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+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
20 October, 2020
Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Aussie falls sharply a er RBA’s Monetary Policy Mee ng Minutes; mos...
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 20, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 20 October, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Aussie falls sharply a er RBA’s Monetary Policy Mee ng Minutes; most Asian stock markets in red, gold consolidates around $1,900 mark Asian Headlines: • New Zealand NZIER business confidence stands at -40 vs -63 previous release. • China house price stands at 4.6 pct vs 4.8 pct previous release. • PBoC keeps loan prime rate unchanged at 3.85 pct. Economic Data Ahead: • (0400 ET/0800 GMT) Euro current account, previous 16.6B, expected 17.2B. • (0830 ET/1230 GMT) U.S. Building permits, previous 1.48M, expected 1.52M. • (0830 ET/1230 GMT) U.S. Housing starts, previous 1.42M, expected 1.45M. Economic Events Ahead: • (0900 ET/1300 GMT) U.S. FOMC member Williams’ speech. • (1050 ET/1450 GMT) U.S. FOMC member Quarles’ 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 93.39 points. USD/JPY: The Japanese yen trades marginally lower on Tuesday and hovers around 105.50 mark. A sustained close above 105.61 will take the parity higher towards key resistance around 105.94, 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 depreciates on Tuesday a er RBA’s monetary policy mee ng minutes. The pair made intraday high at $0.7069 and low at $0.7037 marks. On the top side key resistances are seen at $0.7070, $0.7122, $0.7190, $0.7222, $0.7240 and $0.7290 mark respec vely. On the other hand, a consistent close below $0.7022 will take the parity down towards key supports around $0.7002, $0.6969, $0.6922, $0.6861, $0.6833 and $0.6799 mark respec vely. NZD/USD: The Kiwi falls no ceably against U.S. dollar and slips back below $0.66 mark. Pair made intraday high at $0.6606 and low at $0.6571 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 $0.6574 will drag the parity down towards key supports around $0.6540, $0.6527, $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 73.37 mark. The pair made intraday high at 73.34 and low at 73.27 marks. A sustained close below 73.22 marks will drag the parity down towards 72.87, 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 trades flat and trading around $1.1777 mark. The pair made intraday high at $1.1777 and low at $1.1763 mark. A sustained close above $1.1770 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 appreciated sharply on previous session and touched $1.3024 mark a er Brexit decision extends ll November 2020. Today pair made intraday high at $1.2958 and low at $1.2935 mark. A sustained close above $1.2942 will drag the parity up towards $1.2976, $1.3024, $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 trades marginally lower and hovers around $1,900 mark. Today pair made intraday high at $1,905 and low at $1,894 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 rises gradually on Tuesday and stabilizes around $24.50 mark. Today pair made intraday high at $24.55 and low at $24.32 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 0.71015 S1 0.70585 Buy Above 0.70935 0.71085 0.70285 0.70285 0.70136 0.70935 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.71147 S2 0.70453 R3 0.71362 S3 0.70238 R4 0.71709 S4 0.69891 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.70800
  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 1.17899 S1 1.17207 Buy Above 1.18024 1.18255 1.17198 1.17198 1.16917 1.18024 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18112 S2 1.16994 R3 1.18458 S3 1.16648 R4 1.19017 S4 1.16089 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.17553 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 1.30054 S1 1.29034 Buy Above 1.30183 1.30531 1.29056 1.29056 1.28626 1.30183 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.30370 S2 1.28718 R3 1.30880 S3 1.28208 R4 1.31706 S4 1.27382 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.29544 OCTOBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.31933 S1 1.31607 Buy Above 1.32181 1.32326 1.31471 1.31471 1.31302 1.32181 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.32035 S2 1.31505 R3 1.32198 S3 1.31342 R4 1.32463 S4 1.31077 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.31770 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 105.482 S1 105.328 Buy Above 105.632 105.718 105.265 105.265 105.155 105.632 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 105.530 S2 105.280 R3 105.607 S3 105.203 R4 105.732 S4 105.078 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 105.405 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 1914.64 S1 1898.26 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 1919.69 S2 1893.21 R3 1927.88 S3 1885.02 R4 S4 1871.78 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1906.45 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 1941.12 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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