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Daily Forex Technical Analysis Report - October 28, 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 28, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 28 October, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Aussie rises on higher than expected CPI data; Asian stock markets mixed; gold slightly up Asian Headlines: • South Korea consumer confidence stands at 91.6 vs 79.4 previous release. • U.K. BRC shop price index stands at -1.2 pct vs -1.6 pct previous release. • Australia CPI q/q stands at 1.6 pct vs -1.9 pct previous release. • Australia CPI y/y stands at 0.7 pct vs -0.3 pct previous release. • Australia CPI index number stands at 116.20 vs 114.40 previous release. Economic Data Ahead: • (0300 ET/0700 GMT) Euro German import price, previous 0.1, expected -0.3. • (0500 ET/0900 GMT) Swiss Credit Suisse economic expecta ons, previous 26.2. • (0830 ET/1230 GMT) U.S. goods trade balance, previous -82.9B, expected -85.0B. • (0830 ET/1230 GMT) U.S. Prelim wholesale inventories, previous 0.4, expected 0.4. • (1000 ET/1400 GMT) Canada interest rate decision, previous 0.25, expected 0.25. Economic Events Ahead: • (1115 ET/1515 GMT) Bank of Canada Press Conference. 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 93.12 points. USD/JPY: The Japanese yen strengthens on Wednesday and touches 104.25 mark in early Asia. 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 104.40 will drag the parity down towards 104.20, 103.97, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie rises on robust CPI data and stabilizes above $0.7140 mark. The pair made intraday high at $0.7144 and low at $0.7116 marks. On the top side key resistances are seen at $0.7170, $0.7190, $0.7222, $0.7240 and $0.7290 mark respec vely. On the other hand, a consistent close below $0.7120 will take the parity down towards key supports around $0.7090, $0.7047, $0.7002, $0.6969, $0.6922, $0.6861, $0.6833 and $0.6799 mark respec vely. NZD/USD: The Kiwi rises gradually and hovers around $0.6700 mark. Pair made intraday high at $0.6711 and low at $0.6692 mark. Key resistances are seen at $0.6710, $0.6749, $0.6789, $0.6824, $0.6867 and $0.6910 mark respec vely. Alterna vely, a consistent close below $0.6675 will drag the parity down towards key supports around $0.6578, $0.6527, $0.6499, $0.6476, $0.6420, $0.6380, $0.6356, $0.6289, $0.6240 mark respec vely. USD/INR: The Indian rupee appreciates against U.S. dollar and breaks key support at 73.76 mark. The pair made intraday high at 73.76 and low at 73.57 marks. A sustained close below 73.76 marks will drag the parity down towards 73.57, 73.20, 72.87, 72.65, 72.40 and 72.12 mark respec vely. On the top side key resistances are seen at 73.92, 74.10, 74.37, 74.70, 75.02, 75.20 and 75.39 marks respec vely. EUR/USD: The euro falls marginally ahead of ECB’s interest rate decision due tomorrow. The pair made intraday high at $1.1797 and low at $1.1769 mark. A sustained close above $1.1857 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 $1.1795 will target key supports around $1.1770, $1.1744, $1.1688, $1.1662, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The pound trades flat on Wednesday and consolidates around $1.3040 mark. Today pair made intraday high at $1.3044 and low at $1.3020 mark. A sustained close above $1.3040 will drag the parity up towards $1.3070, $1.3102, $1.3152, $1.3176, $1.3224 and $1.3248 mark respec vely. Key support levels are seen at $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 moves in rigid boundaries and hovers around $1,910 mark. Today pair made intraday high at $1,908 and low at $1,902 mark. A sustained close above $1,908 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 $1,902, $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 $1,914, $1,922, $1,927, $1,932, $1,940, $1,947, $1,957 and $1,972 marks respec vely. XAG/USD (Silver): Silver remains almost unchanged on Wednesday and trading around $24.40 mark. Today pair made intraday high at $24.41 and low at $24.23 mark. A sustained close above $25.04 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 $24.67, $24.85, $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 0.71419 S1 0.71157 Buy Above 0.71591 0.71754 0.71051 0.71051 0.70821 0.71591 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.71500 S2 0.71076 R3 0.71631 S3 0.70945 R4 0.71843 S4 0.70733 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.71288
  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 1.18352 S1 1.18050 Buy Above 1.18199 1.18375 1.17586 1.17586 1.17421 1.18199 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18446 S2 1.17956 R3 1.18597 S3 1.17805 R4 1.18842 S4 1.17560 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.18201 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 1.30721 S1 1.30119 Buy Above 1.30834 1.31149 1.29910 1.29910 1.29623 1.30834 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.30907 S2 1.29933 R3 1.31208 S3 1.29632 R4 1.31695 S4 1.29145 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.30420 OCTOBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.32059 S1 1.31525 Buy Above 1.32342 1.32625 1.31313 1.31313 1.30945 1.32342 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.32223 S2 1.31361 R3 1.32490 S3 1.31094 R4 1.32921 S4 1.30663 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.31792 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 104.752 S1 104.368 Buy Above 104.615 104.801 104.109 104.109 103.946 104.615 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 104.870 S2 104.250 R3 105.062 S3 104.058 R4 105.372 S4 103.748 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 104.560 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 1910.65 S1 1900.35 Buy Above 1912.83 1916.60 1900.54 1900.54 1896.34 1912.83 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1913.83 S2 1897.17 R3 1918.98 S3 1892.02 R4 S4 1883.69 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1905.50 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 1927.31 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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