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Daily Forex Technical Analysis Report - October 21, 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 21, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 21 October, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Japanese yen rises on Wednesday; Asian stock markets mixed; gold up Asian Headlines: • South Korea PPI m/m stands at 0.1 pct vs 0.5 pct previous release. • Australia MI leading index stands at 0.2 pct vs 0.5 pct previous release. Economic Data Ahead: • (0430 ET/0830 GMT) U.K. House price index, previous 2.3 pct. • (0830 ET/1230 GMT) Canada CPI m/m, previous -0.1, expected -0.1. • (0830 ET/1230 GMT) Canada core CPI m/m, previous 0.0. • (0830 ET/1230 GMT) Canada retail sales m/m, previous 0.6, expected 1.1. Economic Events Ahead: • (0330 ET/0730 GMT) ECB President Lagarde’s speech. • (0345 ET/0745 GMT) ECB’s Lane’s speech. • (0600 ET/1000 GMT) ECB’s De Guindos’s speech. • (0810 ET/1210 GMT) U.K. MPC member Ramsden’s speech. • (0850 ET/1250 GMT) U.S. FOMC member Brainard’s speech. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.18% to 92.90 points. USD/JPY: The Japanese yen rises on Wednesday and stabilizes below 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 trades marginally higher on Wednesday and stabilizes below $0.71 mark. The pair made intraday high at $0.7083 and low at $0.7043 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 $0.7047 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 rises marginally against U.S. dollar and jumps back above $0.66 mark. Pair made intraday high at $0.6612 and low at $0.6573 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 $0.6578 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 moves in s ff boundaries and consolidates around 73.37 mark. The pair made intraday high at 73.40 and low at 73.29 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 rises on Wednesday and touches $1.1850 mark in early Asia. The pair made intraday high at $1.1849 and low at $1.1820 mark. A sustained close above $1.1820 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 $1.1820 will target key supports around $1.1790, $1.1744, $1.1688, $1.1662, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The pound rises sharply ahead of U.K. CPI and Core CPI data. Today pair made intraday high at $1.2979 and low at $1.2934 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 strengthens on Wednesday and touches $1,920 mark in Asian hours. Today pair made intraday high at $1,920 and low at $1,907 mark. A sustained close above $1,912 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 Wednesday and jumps above $25.00 mark. Today pair made intraday high at $25.13 and low at $24.62 mark. A sustained close above $25.10 requires for upside rally. Key support levels are seen at $24.62, $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 $25.10, $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 0.70662 S1 0.70268 Buy Above 0.70935 0.71085 0.70390 0.70390 0.70237 0.70935 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.70784 S2 0.70146 R3 0.70981 S3 0.69949 R4 0.71300 S4 0.69630 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.70465
  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 1.18380 S1 1.17762 Buy Above 1.18702 1.18986 1.17887 1.17887 1.17639 1.18702 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18570 S2 1.17572 R3 1.18879 S3 1.17263 R4 1.19378 S4 1.16764 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.18071 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 1.29716 S1 1.29194 Buy Above 1.30183 1.30393 1.29206 1.29206 1.28963 1.30183 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.29878 S2 1.29032 R3 1.30139 S3 1.28771 R4 1.30562 S4 1.28348 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.29455 OCTOBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.31828 S1 1.31068 Buy Above 1.31737 1.31974 1.30745 1.30745 1.30469 1.31737 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.32062 S2 1.30834 R3 1.32442 S3 1.30454 R4 1.33056 S4 1.29840 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.31448 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 105.680 S1 105.372 Buy Above 105.556 105.676 105.166 105.166 105.077 105.556 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 105.774 S2 105.278 R3 105.928 S3 105.124 R4 106.176 S4 104.876 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 105.526 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 1912.60 S1 1897.76 Buy Above 1923.26 1927.83 1905.31 1905.31 1900.03 1923.26 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1917.18 S2 1893.18 R3 1924.60 S3 1885.76 R4 S4 1873.76 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1905.18 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 1936.60 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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