- Recent economic data shows improvements in Australia's services sector and declines slowing in Japan's household spending and average cash earnings. China's trade balance exceeded expectations. - Upcoming economic reports include German and French industrial production, trade, and employment data as well as U.S. and Canada jobs reports. - Technical analysis provides forecasts for gold, major currency pairs, and crude oil based on indicators like trends, moving averages, and Fibonacci pivots with buy/sell signals. Traders are advised to manage risk.

1. What Chart Says, Today?
August 07, 2020
Bharat Pandya – info@fxprofitmanager.com

2. Eye On Fundamentals

3. Headlines
• Australia AIG services index stands at 44.0 vs 31.5 previous release.
• Japan average cash earning stands at -1.7 pct vs -2.3 pct previous release.
• Japan house hold spending stands at -1.2 pct vs -16.2 pct previous release.
• China trade balance stands at 442B vs 329B previous release (expected 291B).

4. Economic Data Ahead
• (0200 ET/0600 GMT) German industrial producon, previous 7.8, expected 8.3.
• (0200 ET/0600 GMT) German Trade balance, previous 7.6B, expected 10.3B.
• (0245 ET/0645 GMT) France industrial producon, previous 19.6, expected 7.6.
• (0245 ET/0645 GMT) France prelim private payrolls, previous -2.5, expected -1.0.
• (0245 ET/0645 GMT) France trade balance, previous -7.1B, expected -7.1B.
• (0300 ET/0700 GMT) Swiss foreign currency reserves, previous 850B.
• (0330 ET/0730 GMT) U.K. Halifax HPI, previous -0.1, expected 0.2.
• (0400 ET/0800 GMT) Italy trade balance, previous 5.58B.
• (0830 ET/1230 GMT) U.S. NFP job data, previous 4800K, expected 1550K.
• (0830 ET/1230 GMT) U.S. unemployment rate, previous 11.1, expected 10.5.
• (0830 ET/1230 GMT) U.S. average hourly earnings, previous -1.2, expected -0.5.
• (0830 ET/1230 GMT) Canada job data, previous 952.9K, expected 375.0K.
• (0830 ET/1230 GMT) Canada unemployment rate, previous 12.3, expected 11.1.

5. Economic Event Ahead
• No key events scheduled for the day

6. TECHNICAL AALYSIS

7. What Chart Says, This Week?
• We are presenting an analysis for Major Currency Crosses, Gold &
Crude for August 07, 2020
• This is a broader picture how things may move as per Charts.
• Traders are advised to have a close look on fundamental events
during the day.
• Due to High volatility, keep your SL & TP to manage RISK:REWARD
Ratio
• Trade Less…Trade On Perfect Levels….

8. XAUUSD (H1 Chart)

9. XAUUSD Day Forecasting
INDICATOR H1 CHART
TREND Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RIS LEVEL 50
FIBONACCI PIVOT 2055.20
R1 2068.60 S1 2041.80
R2 2076.88 S2 2033.52
R3 2090.28 S3 2020.12
CONCLUSION
Buy Above 2075.80 Take Profit 2082.74 Stop Loss 2041.87
Sell Below 2041.87 Take Profit 2032.02 Stop Loss 2075.80

10. AUDUSD (H1 Chart)

11. AUDUSD Day Forecasting
INDICATOR H1 CHART
TREND Reversing Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RIS LEVEL 50
FIBONACCI PIVOT 0.72158
R1 0.72407 S1 0.71909
R2 0.72562 S2 0.71754
R3 0.72811 S3 0.71505
CONCLUSION
Buy Above 0.72502 Take Profit 0.72768 Stop Loss 0.71743
Sell Below 0.71743 Take Profit 0.71458 Stop Loss 0.72502

12. EURUSD (H1 Chart)

13. EURUSD Day Forecasting
INDICATOR H1 CHART
TREND Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RIS LEVEL 50
FIBONACCI PIVOT 1.18696
R1 1.19070 S1 1.18322
R2 1.19302 S2 1.18090
R3 1.19676 S3 1.17716
CONCLUSION
Buy Above 1.19127 Take Profit 1.19369 Stop Loss 1.18035
Sell Below 1.18035 Take Profit 1.17779 Stop Loss 1.19127

14. GBPUSD (H1 Chart)

15. GBPUSD Day Forecasting
INDICATOR H1 CHART
TREND Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RIS LEVEL 50
FIBONACCI PIVOT 1.31457
R1 1.31739 S1 1.31175
R2 1.31914 S2 1.31000
R3 1.32196 S3 1.30718
CONCLUSION
Buy Above 1.31579 Take Profit 1.31758 Stop Loss 1.30845
Sell Below 1.30845 Take Profit 1.30565 Stop Loss 1.31579

16. USDCAD (H1 Chart)

17. USDCAD Day Forecasting
INDICATOR H1 CHART
TREND Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RIS LEVEL 50
FIBONACCI PIVOT 1.32899
R1 1.33202 S1 1.32596
R2 1.33388 S2 1.32410
R3 1.33691 S3 1.32107
CONCLUSION
Buy Above 1.33907 Take Profit 1.34135 Stop Loss 1.32892
Sell Below 1.32892 Take Profit 1.32559 Stop Loss 1.33907

18. USDJPY (H1 Chart)

19. USDJPY Day Forecasting
INDICATOR H1 CHART
TREND Neutral to Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RIS LEVEL 50
FIBONACCI PIVOT 105.508
R1 105.659 S1 105.357
R2 105.753 S2 105.263
R3 105.904 S3 105.112
CONCLUSION
Buy Above 105.806 Take Profit 105.961 Stop Loss 105.291
Sell Below 105.291 Take Profit 105.079 Stop Loss 105.806

20. Facebook: https://www.facebook.com/fxprofitmanager
Twitter: https://twitter.com/fxprofitmanager
Linkedin: https://www.linkedin.com/company/fxprofitmanager/
Slideshare: https://www.slideshare.net/BharatPandya11
Instagram: https://www.instagram.com/fxprofitmanager/