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Daily Forex Technical Analysis Report - October 23, 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 23, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 23 October, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Kiwi falls in early Asia as CPI data misses expecta ons; Asian stock markets slightly up; gold flat Asian Headlines: • New Zealand CPI stands at 0.7 pct vs -0.5 pct previous release (expected 0.9). • Australia flash manufacturing PMI stands at 54.2 vs 55.4 previous release. • Australia flash services PMI stands at 53.8 vs 50.8 previous release. • U.K. GFK consumer confidence stands at -31 vs -25 previous release (expected -28). • Japan flash manufacturing PMI stands at 48.0 vs 47.7 previous release (expected 48.4). Economic Data Ahead: • (0200 ET/0600 GMT) U.K. retail sales, previous 0.8, expected 0.0. • (0315 ET/0715 GMT) France flash services PMI, previous 47.5, expected 47.0. • (0315 ET/0715 GMT) France flash manufacturing PMI, previous 51.2, expected 51.3. • (0330 ET/0730 GMT) German flash manufacturing PMI, previous 56.4, expected 55.0. • (0330 ET/0730 GMT) German flash services PMI, previous 50.6, expected 49.6. • (0400 ET/0800 GMT) Euro flash manufacturing PMI, previous 53.7, expected 53.0. • (0400 ET/0800 GMT) Euro flash services PMI, previous 48.0, expected 47.1. • (0430 ET/0830 GMT) U.K. flash manufacturing PMI, previous 54.1, expected 53.2. • (0430 ET/0830 GMT) U.K. flash services PMI, previous 56.1, expected 53.4. • (0945 ET/1345 GMT) U.S. flash manufacturing PMI, previous 53.2, expected 53.5. • (0945 ET/1345 GMT) U.S. flash services PMI, previous 54.6, expected 54.7. Economic Events Ahead: • No key events scheduled for the day. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.11% to 93.06 points. USD/JPY: The Japanese yen trades marginally higher despite lower than expected manufacturing PMI data. A sustained close above 104.83 will take the parity higher towards key resistance around 104.92, 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 remains almost unchanged a er manufacturing PMI and services PMI data. The pair made intraday high at $0.7139 and low at $0.7107 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 falls in early Asia as CPI data misses expecta ons. Pair made intraday high at $0.6679 and low at $0.6659 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 $0.6578 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 trades flat at 73.50 mark against U.S. dollar. The pair made intraday high at 73.62 and low at 73.53 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 falls gradually on Friday and hovers around $1.1800 mark. The pair made intraday high at $1.1823 and low at $1.1786 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 $1.1817 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 moves in rigid boundaries on Friday. Today pair made intraday high at $1.3090 and low at $1.3056 mark. A sustained close above $1.3140 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 trades flat and stabilizes above $1,900 mark. Today pair made intraday high at $1,907 and low at $1,901 mark. A sustained close above $1,924 requires for the upside rally. On the other side, consistent close below $1,902 will check key supports as well. Key support levels are seen around $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 remains almost unchanged and hovers around $24.65 mark. Today pair made intraday high at $24.77 and low at $24.51 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 0.71239 S1 0.70931 Buy Above 0.71370 0.71515 0.70816 0.70816 0.70667 0.71370 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.71333 S2 0.70837 R3 0.71487 S3 0.70683 R4 0.71735 S4 0.70435 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.71085
  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 1.18530 S1 1.18106 Buy Above 1.18374 1.18560 1.17835 1.17835 1.17648 1.18374 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18660 S2 1.17976 R3 1.18872 S3 1.17764 R4 1.19214 S4 1.17422 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.18318 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 1.31323 S1 1.30701 Buy Above 1.31252 1.31614 1.30268 1.30268 1.29897 1.31252 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.31515 S2 1.30509 R3 1.31826 S3 1.30198 R4 1.32329 S4 1.29695 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.31012 OCTOBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.31664 S1 1.31256 Buy Above 1.31822 1.32040 1.31080 1.31080 1.30873 1.31822 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.31791 S2 1.31129 R3 1.31995 S3 1.30925 R4 1.32326 S4 1.30594 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.31460 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 104.924 S1 104.584 Buy Above 104.991 105.165 104.448 104.448 104.287 104.991 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 105.030 S2 104.478 R3 105.200 S3 104.308 R4 105.476 S4 104.032 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 104.754 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 1919.98 S1 1896.02 Buy Above 1916.95 1922.98 1898.57 1898.57 1892.79 1916.95 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1927.37 S2 1888.63 R3 1939.35 S3 1876.65 R4 S4 1857.28 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1908.00 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 1958.72 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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