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Daily Forex Technical Analysis Report - September 02, 2020

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Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
02 September, 2020
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Aussie falls as GDP data misses expecta ons; Asian stock markets mi...
AUD / USD
REPORTFROM:TPGLOBALFXSEPTEMBER,2020
Time Frame: H1
INDICATORS
Trends Down Trend
Moving Average (Period=75) Below...
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Daily Forex Technical Analysis Report - September 02, 2020

  1. 1. Daily Analysis Report +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 02 September, 2020
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Aussie falls as GDP data misses expecta ons; Asian stock markets mixed; gold consolidates around $1,970 mark Asian Headlines: • New Zealand overseas trade index stands at 2.5 pct vs -0.6 pct previous release (expected 0.6). • U.K. BRC shop price index stands at -1.6 pct vs -1.3 pct previous release. • Japan monetary base stands at 11.5 pct vs 9.8 pct previous release (expected 10.1). • Australia GDP q/q stands at -7.0 vs -0.3 previous release (expected -6.0). • South Korea CPI m/m stands at 0.6 pct vs 0.0 pct previous release (expected 0.2). Economic Data Ahead: • (0200 ET/0600 GMT) German Retail sales, previous -1.6, expected 0.5. • (0200 ET/0600 GMT) U.K. Na onwide HPI m/m, previous 1.7, expected 0.5. • (0300 ET/0700 GMT) Spain unemployment change, previous -89.8K, expected 10.1K. • (0430 ET/0830 GMT) U.K. HPI y/y, previous 2.6. • (0500 ET/0900 GMT) Euro PPI m/m, previous 0.7, expected 0.5. • (0815 ET/1215 GMT) U.S. ADP NFP job data, previous 167K, expected 1250K. • (0830 ET/1230 GMT) Canada labor produc vity, previous 3.4, expected 6.5. • (1000 ET/1400 GMT) U.S. factory orders, previous 6.2, expected 6.0. Economic Events Ahead: • (0900 ET/1300 GMT) BoE Governor Bailey’s speech. • (1000 ET/1400 GMT) U.S. FOMC member William’s speech. • (1030 ET/1430 GMT) U.K. MPC member Broadbent’s speech. • (1200 ET/1600 GMT) U.S. FOMC member Mester’s speech. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.06% to 92.39. USD/JPY: The Japanese yen trades flat on Wednesday and consolidates around 105.94 mark. A sustained close above 105.94 will take the parity higher towards key resistance around 106.22, 106.90, 107.48, 107.92, 108.22, 108.54, 109.20 and 109.72 mark respec vely. On the other side, a consistent close below 105.33 will drag the parity down towards 105.10, 104.72, 104.20, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie falls in early Asia as GDP data misses expecta ons. The pair made intraday high at $0.7381 and low at $0.7336 marks. On the top side key resistances are seen at $0.7422, $0.7462 and $0.7502 mark respec vely. On the other hand, a consistent close below $0.7375 will take the parity down towards key supports around $0.7322, $0.7257, $0.7190, $0.7158, $0.7123, $0.7082, $0.7040, $0.6969, $0.6922, $0.6861, $0.6833 and $0.6799 mark respec vely. NZD/USD: The kiwi strengthens no ceable in early Asia a er robust overseas trade index as well as hawkish speech by RBNZ Governor Orr. Pair made intraday high at $0.6786 and low at $0.6746 mark. The pair hits highest level since July 2019. Key resistances are seen at $0.6790, $0.6824, $0.6867 and $0.6910 mark respec vely. Alterna vely, a consistent close below $0.6733 will drag the parity down towards key supports around $0.6686, $0.6620, $0.6547, $0.6499, $0.6476, $0.6420, $0.6380, $0.6356, $0.6289, $0.6240 mark respec vely. USD/INR: The Indian rupee appreciated considerably in previous session and touched 72.65 mark against U.S. dollar. Today pair is trading almost flat. The pair made intraday high at 73.10 and low at 72.94. A sustained close below 73.08 marks will drag the parity down towards 72.88, 72.65, 72.40 and 72.12 mark respec vely. On the top side key resistances are seen at 73.37, 73.76, 74.10, 74.37, 74.70, 75.02, 75.20 and 75.39 marks respec vely. EUR/USD: The euro trades slightly higher on Wednesday and hovers around $1.1900 mark in Asian hours. The pair made intraday high at $1.1928 and low at $1.1891 mark. A sustained close above $1.1936 tests key resistances at $1.1975, $1.2022, $1.2047, $1.2082 and $1.2120 mark respec vely. On the other side, a sustained close below $1.1911 will target key supports around $1.1890, $1.1857, $1.1740, $1.1695, $1.1654, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The sterling moves flat against U.S. dollar ahead of BoE Governor Bailey’s speech. A sustained close above $1.3381 will drag the parity up towards $1.3422, $1.3442 and $1.3515 mark respec vely. Key support levels are seen at $1.3370, $1.3347, $1.3290, $1.3238, $1.3198, $1.3151, $1.3102, $1.3062, $1.3009, $1.2950, $1.2838 and $1.2775 mark respec vely. Commodity Trend: XAU/USD (GOLD): Gold moves in rigid boundaries in early Asia ahead of U.S. ADP job data. Today pair made intraday high at $1,973 and low at $1,958 mark. A sustained close above $2,001 requires for the upside rally. Alterna vely, reversal from key resistance will take the parity down towards key supports around $1,957, $1,940, $1,922, $1,910, $1,902, $1,890, $1,862, $1,840, $1,822, $1,809 and $1,787 mark respec vely. Key resistances are seen at $1,994, $2,008, 2,020, 2,038 and $2,063 marks respec vely. XAG/USD (Silver): Silver stabilizes around $28.00 mark. A sustained close above $29.13 requires for upside rally. Key support levels are seen at $27.50, $26.90, $26.53, $26.12, $25.53, $25.02, $24.70, $23.41, $23.24 and $23.02 marks respec vely. Key resistances are seen at $28.84, $28.97, $29.13 and $29.55 marks respec vely.
  3. 3. AUD / USD REPORTFROM:TPGLOBALFXSEPTEMBER,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 0.74019 S1 0.73605 Buy Above 0.73866 0.74167 0.73232 0.73232 0.73021 0.73866 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.74147 S2 0.73477 R3 0.74354 S3 0.73270 R4 0.74689 S4 0.72935 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.73812
  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 1.19828 S1 1.18990 Buy Above 1.19293 1.19472 1.18796 1.18796 1.18542 1.19293 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.20088 S2 1.18730 R3 1.20507 S3 1.18311 R4 1.21186 S4 1.17632 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.19409 SEPTEMBER,2020
  5. 5. GBP / USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS Trends Reversing Up Trend Moving Average (Period=75) Above MA H 1 RIS (Period=26) Above RIS LEVEL 50 FIBO Levels PIVOT R1 1.34550 S1 1.33588 Buy Above 1.34212 1.34779 1.33235 1.33235 1.32736 1.34212 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.34848 S2 1.33290 R3 1.35329 S3 1.32809 R4 1.36108 S4 1.32030 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.34069 SEPTEMBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.30831 S1 1.30123 Buy Above 1.30897 1.31083 1.30252 1.30252 1.29978 1.30897 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.31049 S2 1.29905 R3 1.31403 S3 1.29551 R4 1.31975 S4 1.28979 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.30477 Trend Reversing Down Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 SEPTEMBER,2020
  7. 7. USD /JPY REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 106.107 S1 105.677 Buy Above 106.274 106.491 105.604 105.604 105.352 106.274 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 106.239 S2 105.545 R3 106.454 S3 105.330 R4 106.801 S4 104.983 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 105.892 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 SEPTEMBER,2020
  8. 8. XAU / [GOLD]USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1986.08 S1 1963.80 Buy Above 1975.45 1980.45 1957.56 1957.56 1952.09 1975.45 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1992.97 S2 1956.91 R3 2004.11 S3 1945.77 R4 S4 1927.74 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1974.94 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 2022.14 SEPTEMBER,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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