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Daily Forex Technical Analysis Report - September 16, 2020

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Daily Analysis Report
+1 7754 366 970
analysis@tpglobalfx.com
REPORTFROM:TPGLOBALFX
16 September, 2020
+1 7754 366 970
analysis@tpglobalfx.com
Asian Bulle n: Japanese yen rises on strong trade balance data; Asian stock market...
AUD / USD
REPORTFROM:TPGLOBALFXSEPTEMBER,2020
Time Frame: H1
INDICATORS
Trends Up Trend
Moving Average (Period=75) Above M...
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Daily Forex Technical Analysis Report - September 16, 2020

  1. 1. Daily Analysis Report +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 16 September, 2020
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Japanese yen rises on strong trade balance data; Asian stock markets mixed ahead of U.S. FOMC interest rate decision; gold slightly up Asian Headlines: • New Zealand current account stands at 1.83B vs 1.90B previous release (expected 0.69B). • Japan trade balance stands at 0.35T vs 0.04T previous release (expected 0.01T). • Australia MI leading index stands at 0.5 pct vs 0.1 pct previous release. Economic Data Ahead: • (0430 ET/0830 GMT) U.K. HPI, previous 2.9, expected 3.2. • (0500 ET/0900 GMT) Euro Trade balance, previous 17.1B, expected 19.3B. • (0830 ET/1230 GMT) Canada CPI, previous 0.0, expected 0.1. • (0830 ET/1230 GMT) Canada core CPI, previous -0.1. • (0830 ET/1230 GMT) U.S. retail sales, previous 1.2, expected 1.1. • (0830 ET/1230 GMT) U.S. core retail sales, previous 1.9, expected 1.0. • (1000 ET/1400 GMT) U.S. business inventories, previous -1.1, expected 0.2. • (1400 ET/1800 GMT) U.S. interest rate decision, previous 0.25 pct, expected 0.25. Economic Events Ahead: • (1430 ET/1830 GMT) U.S. FOMC Press Conference. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.01% to 93.04. USD/JPY: The Japanese yen rises against U.S. dollar on robust trade balance data. A sustained close above 105.40 will take the parity higher towards key resistance around 105.90, 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 105.40 will drag the parity down towards 105.10, 104.72, 104.20, 103.50 and 102.98 marks respec vely. AUD/USD: The Aussie rises gradually on Wednesday. The pair made intraday high at $0.7321 and low at $0.7288 marks. On the top side key resistances are seen at $0.7340, $0.7370, $0.7422, $0.7462 and $0.7502 mark respec vely. On the other hand, a consistent close below $0.7287 will take the parity down towards key supports around $0.7212, $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 in early Asia on higher than expected current account data. Pair made intraday high at $0.6730 and low at $0.6702 mark. Key resistances are seen at $0.6740, $0.6770, $0.6824, $0.6867 and $0.6910 mark respec vely. Alterna vely, a consistent close below $0.6700 will drag the parity down towards key supports around $0.6650, $0.6618, $0.6547, $0.6499, $0.6476, $0.6420, $0.6380, $0.6356, $0.6289, $0.6240 mark respec vely. USD/INR: The Indian rupee trades flat and stabilizes above 73.50 mark. The pair made intraday high at 73.67 and low at 73.53 mark. A sustained close below 73.57 marks will drag the parity down towards 73.37, 73.02, 72.88, 72.65, 72.40 and 72.12 mark respec vely. On the top side key resistances are seen at 73.77, 74.10, 74.37, 74.70, 75.02, 75.20 and 75.39 marks respec vely. EUR/USD: The euro exhibits range bound movement. The pair made intraday high at $1.1853 and low at $1.1828 mark. A sustained close above $1.1863 tests key resistances at $1.1936, $1.1975, $1.2022, $1.2047, $1.2082 and $1.2120 mark respec vely. On the other side, a sustained close below $1.1840 will target key supports around $1.1802, $1.1774, $1.1737, $1.1695, $1.1654, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The sterling trades marginally higher and hovers around $1.29 mark ahead of U.K.’s CPI, core CPI data. A sustained close above $1.2888 will drag the parity up towards $1.2930, $1.3002, $1.3070, $1.3102, $1.3148, $1.3210, $1.3276, $1.3350, $1.3382, $1.3422, $1.3442 and $1.3515 mark respec vely. Key support levels are seen at $1.2875, $1.2820, $1.2762, $1.2740, $1.2695, $1.2662 and $1.2620 mark respec vely. Commodity Trend: XAU/USD (GOLD): Gold slightly up ahead of FOMC interest rate decision. Today pair made intraday high at $1,961 and low at $1,949 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 $1,947, $1,932, $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 $1,972, $1,982, $1,994, $2,008, 2,020, 2,038 and $2,063 marks respec vely. XAG/USD (Silver): Silver moves in rigid boundaries. A sustained close above $29.13 requires for upside rally. Key support levels are seen at $27.12, $26.73, $26.52, $26.12, $25.53, $25.02, $24.70, $23.41, $23.24 and $23.02 marks respec vely. Key resistances are seen at $27.70, $28.12, $28.84, $28.97, $29.13 and $29.55 marks respec vely.
  3. 3. AUD / USD REPORTFROM:TPGLOBALFXSEPTEMBER,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 0.73320 S1 0.72742 Buy Above 0.73403 0.73599 0.72840 0.72840 0.72683 0.73403 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.73499 S2 0.72563 R3 0.73788 S3 0.72274 R4 0.74256 S4 0.71806 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.73031
  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 1.18848 S1 1.18384 Buy Above 1.18782 1.18936 1.18233 1.18233 1.18050 1.18782 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18992 S2 1.18240 R3 1.19224 S3 1.18008 R4 1.19600 S4 1.17632 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.18616 SEPTEMBER,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 1.29222 S1 1.28372 Buy Above 1.29431 1.30215 1.28189 1.28189 1.27558 1.29431 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.29485 S2 1.28109 R3 1.29910 S3 1.27684 R4 1.30598 S4 1.26996 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.28797 SEPTEMBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.31777 S1 1.31379 Buy Above 1.32130 1.32330 1.31224 1.31224 1.30983 1.32130 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.31899 S2 1.31257 R3 1.32098 S3 1.31058 R4 1.32419 S4 1.30737 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.31578 Trend Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 SEPTEMBER,2020
  7. 7. USD /JPY REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 105.712 S1 105.398 Buy Above 105.683 105.842 105.123 105.123 104.946 105.683 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 105.808 S2 105.302 R3 105.965 S3 105.145 R4 106.218 S4 104.892 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 105.555 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 SEPTEMBER,2020
  8. 8. XAU / [GOLD]USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1967.19 S1 1949.03 Buy Above 1965.20 1971.07 1948.56 1948.56 1942.51 1965.20 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1972.81 S2 1943.41 R3 1981.89 S3 1934.33 R4 S4 1919.63 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1958.11 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 1996.59 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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