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Daily Forex Technical Analysis Report - October 22, 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 22, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 22 October, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Sterling hit fresh 6 – week high at $1.3176 mark ahead of BoE Governor Bailey’s speech; Asian stock markets in red; gold slightly down Asian Headlines: • No key data released for the day. Economic Data Ahead: • (0200 ET/0600 GMT) German GFK Consumer Climate, previous -1.6, expected -2.9. • (0600 ET/1000 GMT) U.K. CBI industrial order expecta ons, previous -48, expected -50. • (0830 ET/1230 GMT) U.S. unemployment claims weekly, previous 898K, expected 860K. • (1000 ET/1400 GMT) Euro consumer confidence, previous -14, expected -15. • (1000 ET/1400 GMT) U.S. exis ng home sales, previous 6.00M, expected 6.20M. Economic Events Ahead: • (0430 ET/0830 GMT) U.K. MPC member Haldane’s speech. • (0525 ET/0925 GMT) BoE Governor Bailey’s speech. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.20% to 92.79 points. USD/JPY: The Japanese yen rises extremely on previous session and slips below 105.00 mark. A sustained close above 104.58 will take the parity higher towards key resistance around 105.20, 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 104.58 will drag the parity down towards 104.20, 104.55, 104.20, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie trades marginally lower on Thursday and hovers around $0.71 mark. The pair made intraday high at $0.7119 and low at $0.7085 marks. On the top side key resistances are seen at $0.7122, $0.7190, $0.7222, $0.7240 and $0.7290 mark respec vely. On the other hand, a consistent close below $0.7090 will take the parity down towards key supports around $0.7047, $0.7002, $0.6969, $0.6922, $0.6861, $0.6833 and $0.6799 mark respec vely. NZD/USD: The Kiwi strengthens and stabilizes back above $0.66 mark. Pair made intraday high at $0.6657 and low at $0.6632 mark. Key resistances are seen at $0.6657, $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 falls gradually against U.S. dollar and touches 73.72 mark in early Asia. The pair made intraday high at 73.72 and low at 73.58 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 73.76, 74.10, 74.37, 74.70, 75.02, 75.20 and 75.39 marks respec vely. EUR/USD: The euro trades flat on Thursday and hovers around $1.1850 mark. The pair made intraday high at $1.1864 and low at $1.1838 mark. A sustained close above $1.1856 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 appreciated sharply a er U.K. CPI and Core CPI data and hit fresh 6 – week high at $1.3176 mark. Today pair made intraday high at $1.3152 and low at $1.3124 mark. A sustained close above $1.3150 will drag the parity up towards $1.3176, $1.3182, $1.3224 and $1.3248 mark respec vely. Key support levels are seen at $1.3063, $1.3002, $1.2945, $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 failed to break key resistance at $1,932 mark and currently trading around $1,915 mark. Today pair made intraday high at $1,925 and low at $1,910 mark. A sustained close above $1,924 requires for the upside rally. On the other side, consistent close below $1,908 will check key supports as well. Key support levels are seen around $1,902, $1,891, $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 $1,932, $1,940, $1,947, $1,957 and $1,972 marks respec vely. XAG/USD (Silver): Silver trades marginally lower and slips back below $25.00 mark. Today pair made intraday high at $25.08 and low at $24.65 mark. A sustained close above $25.04 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 0.71344 S1 0.70640 Buy Above 0.71300 0.71595 0.70462 0.70462 0.70268 0.71300 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.71561 S2 0.70423 R3 0.71913 S3 0.70071 R4 0.72482 S4 0.69502 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.70992
  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 1.18764 S1 1.18310 Buy Above 1.18798 1.18986 1.18060 1.18060 1.17764 1.18798 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18905 S2 1.18169 R3 1.19132 S3 1.17942 R4 1.19500 S4 1.17574 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.18537 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 1.31768 S1 1.29884 Buy Above 1.31850 1.32468 1.29714 1.29714 1.29115 1.31850 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.32350 S2 1.29302 R3 1.33292 S3 1.28360 R4 1.34816 S4 1.26836 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.30826 OCTOBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.31529 S1 1.30985 Buy Above 1.31931 1.32197 1.31250 1.31250 1.31056 1.31931 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.31698 S2 1.30816 R3 1.31970 S3 1.30544 R4 1.32411 S4 1.30103 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.31257 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 105.260 S1 104.356 Buy Above 105.147 105.437 104.297 104.297 104.016 105.147 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 105.539 S2 104.077 R3 105.991 S3 103.625 R4 106.722 S4 102.894 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 104.808 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 1930.16 S1 1912.62 Buy Above 1927.17 1933.24 1905.31 1905.31 1900.03 1927.17 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1935.58 S2 1907.20 R3 1944.35 S3 1898.43 R4 S4 1884.24 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1921.39 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 1958.54 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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