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Daily Forex Technical Analysis Report - October 29, 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 29, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 29 October, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Japanese yen strengthens gradually a er BoJ’s interest rate decision, most Asian stock markets in red; gold hovers around $1,880 mark Asian Headlines: • Japan retail sales stands at -8.7 pct vs -1.9 pct previous release (expected -7.5). • New Zealand ANZ business confidence stands at -15.7 vs -14.5 previous release. • Australia impost prices stand at -3.5 pct vs -1.9 pct previous release (expected -2.1). • BoJ keeps interest rate unchanged at -0.10 pct. • South Korea manufacturing BSI index stands at 78 vs 70 previous release. Economic Data Ahead: • (0400 ET/0800 GMT) Spain flash CPI, previous -0.4, expected -0.4. • (0455 ET/0855 GMT) German unemployment change, previous -8K, expected -5K. • (0530 ET/0930 GMT) U.K. mortgage approvals, previous 85K, expected 76K. • (0830 ET/1230 GMT) U.S. advance GDP, previous -31.4, expected 32.0 pct. • (0830 ET/1230 GMT) U.S. advance GDP price index, previous -1.8, expected 2.9 pct. • (0830 ET/1230 GMT) U.S. unemployment claims weekly, previous 787K, expected 773K. • (0845 ET/1245 GMT) Euro Interest Rate decision, previous 0.0, expected 0.0. • (1000 ET/1400 GMT) U.S. pending home sales, previous 8.8, expected 3.1. Economic Events Ahead: • (0930 ET/1330 GMT) ECB Press Conference. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.03% to 93.38 points. USD/JPY: The Japanese yen trades marginally higher a er BoJ’s interest rate decision and now focus turns on the Press Conference only. A sustained close above 104.32 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 104.32 will drag the parity down towards 104.20, 103.97, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie trades flat on Thursday and fails to find support below $0.7040 mark. The pair made intraday high at $0.7068 and low at $0.7040 marks. On the top side key resistances are seen at $0.7090, $0.7122, $0.7170, $0.7190, $0.7222, $0.7240 and $0.7290 mark respec vely. On the other hand, a consistent close below $0.7040 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 takes halt around $0.6628 mark against U.S. dollar. Pair made intraday high at $0.6655 and low at $0.6636 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 $0.6638 will drag the parity down towards key supports around $0.6602, $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 erases previous loss against U.S. dollar and trades marginally higher at 73.99 mark. The pair made intraday high at 74.15 and low at 73.92 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 74.22, 74.54, 74.70, 75.02, 75.20 and 75.39 marks respec vely. EUR/USD: The euro trades almost flat ahead of ECB’s interest rate decision. The pair made intraday high at $1.1758 and low at $1.1743 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 $1.1746 will target key supports around $1.1688, $1.1662, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The pound moves in s ff boundaries and hovers around $1.3000 mark. Today pair made intraday high at $1.3014 and low at $1.2976 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, $1.2976, $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 fell sharply on previous session and touched $1,869 mark. Today pair made intraday high at $1,883 and low at $1,875 mark. A sustained close above $1,908 requires for the upside rally. On the other side, consistent close below $1,877 will check key supports as well. Key support levels are seen around $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 depreciated and slips below 24.00 mark. Today pair made intraday high at $23.51 and low at $23.25 mark. A sustained close above $25.04 requires for upside rally. Key support levels are seen at $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 Down Trend Moving Average (Period=75) Below MA H 1 RIS (Period=26) Below RIS LEVEL 50 FIBO Levels PIVOT R1 0.71245 S1 0.70335 Buy Above 0.71050 0.71465 0.70270 0.70270 0.69986 0.71050 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.71527 S2 0.70053 R3 0.71982 S3 0.69598 R4 0.72719 S4 0.68861 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.70790
  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 1.17838 S1 1.17228 Buy Above 1.17813 1.18066 1.17192 1.17192 1.16998 1.17813 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18026 S2 1.17040 R3 1.18331 S3 1.16735 R4 1.18824 S4 1.16242 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.17533 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 1.30433 S1 1.29309 Buy Above 1.30580 1.30932 1.29097 1.29097 1.28770 1.30580 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.30779 S2 1.28963 R3 1.31341 S3 1.28401 R4 1.32249 S4 1.27493 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.29871 OCTOBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.33368 S1 1.32178 Buy Above 1.33499 1.33884 1.32025 1.32025 1.31481 1.33499 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.33735 S2 1.31811 R3 1.34330 S3 1.31216 R4 1.35292 S4 1.30254 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.32773 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 104.493 S1 104.155 Buy Above 104.699 104.836 104.244 104.244 104.107 104.699 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 104.598 S2 104.050 R3 104.767 S3 103.881 R4 105.041 S4 103.607 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 104.324 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 1901.51 S1 1869.91 Buy Above 1892.83 1900.17 1869.43 1869.43 1862.28 1892.83 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1911.27 S2 1860.15 R3 1927.07 S3 1844.35 R4 S4 1818.79 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1885.71 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 1952.63 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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