DAILY ANALYSIS REPORT JULY 28 2022

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28 July 2022
Daily Analysis Report

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Asian Bulle n: U.S. dollar fell sharply across the board a er Fed’s Interest Rate Hike Decision, Asian stock markets in green, gold stabilizes above $1,730 mark ahead of U.S. Advance GDP q/q
data
Key Headlines:
• New Zealand Business Confidence stands at -56.7 vs -62.6 previous release.
• Australia Import Prices q/q stands at 4.3 pct vs 5.1 pct previous release.
• Australia Retail Sales m/m stands at 0.2 pct vs 0.9 pct previous release.
• Fed Raised key funds rate by 75 bps to 2.50 pct.
• Fed’s Powell - Wage growth is increasing.
• Fed’s Powell - Ac vity in housing has so ened.
• Fed’s Powell - Labor supply subdued, while labor demand is strong.
• Fed’s Powell - Pace of rate hikes to depend on incoming data.
• Fed’s Powell - Another unusually large increase to depend on data.
• Fed’s Powell - Likely will be appropriate to slow pace of increases as rates get more restric ve.
• Fed’s Powell - Further surprises could be in store.
• Fed’s Powell - Below-trend growth may be necessary to lower infla on.
• Fed’s Powell - Essen al to bring infla on down to 2%.
• Fed’s Powell - Labor market is extremely ght, infla on much too high.
• Fed’s Powell - We are con nuing process of significantly reducing our balance sheet.
• Fed’s Powell - The FOMC sees rate increases in 2023, will update in September.
• Fed’s Powell - I don't think U.S. is currently in a recession.
• Fed’s Powell - These recent hikes have been large and come quickly, full effect not felt yet.
• Fed’s Powell - Balance-sheet reduc on will proceed as an cipated in September, with monthly runoff caps increasing to $35 billion for mbs and $60 billion for treasuries.
• Taiwanese chipmaker United Microelectronics Corp (UMC) said on Wednesday it sees con nued growth for the industry into next year, even as soaring infla on and recession fears
cool demand for consumer electronics – Reuters.
• The euro zone's looming gas crisis and Italy's poli cal troubles will push the bloc into a mild recession and limit European Central Bank interest rate hikes, JPMorgan forecast on
Wednesday – Reuters.
• Russia delivered less gas to Europe on Wednesday in a further escala on of an energy stand-off between Moscow and the European Union that will make it harder, and costlier, for
the bloc to fill up storage ahead of the winter hea ng season – Reuters.
• Not convinced by central banks' pledge to stamp on infla on, many investors are on the hunt for assets that will protect their por olios from years of decline in the value of money –
Reuters.
• Futures exchange operator CME Group Inc reported a near 22% rise in quarterly adjusted profit on Wednesday, benefi ng from higher clearing fees as fears of a looming recession
forced investors to realign their por olios to hedge against poten al risks – Reuters.
• Iran will soon start accep ng payments made with Russia's Mir bank cards, a top official was quoted by Russia's RIA news agency as saying, making it the latest country to adopt the
Russian-made alterna ve to Visa and Mastercard - Reuters.
• The U.S. Centers for Disease Control and Preven on (CDC) said on Wednesday it plans to make the rapidly spreading monkeypox disease a na onally no fiable condi on – Reuters.
• People lined up on Wednesday for the monkeypox vaccine at a new dedicated vaccine centre in Paris, which has been booked out for two days since opening – Reuters.
• U.S. President Joe Biden said on Wednesday he will now be able to return to work in person a er tes ng nega ve for COVID-19, adding that he was "feeling great." – Reuters.
• Indian state research body ICMR said it has isolated the monkeypox virus and is invi ng vaccine makers to consider making shots a er the country reported some cases of infec on –
Reuters.
• The Pan American Health Organiza on (PAHO) said on Wednesday that nearly 5,300 monkeypox cases have so far been reported across 18 countries and territories in the Americas,
with the majority in the United States, Canada and Brazil – Reuters.
• Drugmaker Bavarian Nordic said U.S. and European regulators have approved the use of Jynneos vaccine doses made at the company's plant in Denmark as global efforts to tackle
the monkeypox outbreak pick up pace – Reuters.
Key Economic Indicators Ahead
• All Day – German Prelim CPI, previous 0.1, expected 0.6.
• (0700 GMT/1230 IST) Spain Unemployment Rate, previous 13.6, expected 13.2.
• (1230 GMT/1800 IST) U.S. Advance GDP q/q, previous -1.6, expected 0.4.
• (1230 GMT/1800 IST) U.S. Advance GDP Price Index q/q, previous 8.2, expected 7.9.
• (1230 GMT/1800 IST) U.S. Unemployment Claims weekly, previous 251K, expected 253K.
Economic Events Ahead:
• Tenta ve – U.S. Treasury Sec Yellen Speaks.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.22 pct to 106.22 points.

3. AUD / USD
BUY SELL
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Technical Summary
Trend Up Trend
Moving Average (Period=75) Above MA
H 1
RSI (Period=26) Above RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
0.7002
R2 S2
0.7022
R3 S3
0.7050
R4
Commentary
S4
0.7076
Buy Above 0.7005
0.7050
0.6970
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.6970
0.6940
0.7002
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie too gets benefited from the U.S. funds rate hike decision and currently
consolidates around $0.6990 mark. Today pair made intraday high at $0.6998 and low at $0.6980
mark. A day chart is down and H1 chart with triple EMA suggests up trend for the time being. A
sustained close above $0.7002 on H1 chart requires for the upside rally. Alternatively, a consistent
close below $0.6976 will check further supports.
0.6976
0.6940
0.6915
0.6901
JULY,
2022

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.0230
R2 S2
1.0255
R3 S3
1.0276
R4
Commentary
S4
1.0299
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-
Time Frame: H1
EUR/USD: The euro trades in narrow range on Thursday and stabilizes around $1.0200 mark. Today
the pair made intraday high at $1.0215 and low at $1.0180 mark. Today triple EMA on a day chart is
down and H1 chart suggests up trend for the time being. A consistent close above $1.0212 on H1
chart requires for the upside rally. Alternatively, a sustained close below $1.0180 on H1 chart will
check further supports.
EUR / USD
1.0180
1.0155
1.0140
1.0100
Buy Above 1.0220
1.0250
1.0189
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.0180
1.0155
1.0210
– Take Profit
– Stop Loss
Trade Idea
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50
JULY,
2022

5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.2172
R2 S2
1.2199
R3 S3
1.2224
R4
Commentary
S4
1.2250
Buy Above 1.2175
1.2206
1.2140
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2132
1.2101
1.2165
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The sterling spiked up sharply on Thursday and touches $1.2185 mark in opening hours.
Today pair made intraday high at $1.2185 and low at $1.2142 mark.Aday chart is down and H1 chart
with triple EMA suggests up trend for the time being. A sustained close above $1.2168 on H1 chart
will check key resistances. Alternatively, a consistent close below $1.2130 will check further
supports.
USD
1.2130
1.2102
1.2080
1.2055
GBP/
Trends Up Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
JULY,
2022

6. BUY SELL
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Technical Summary
Trends Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26 Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1.2840
R2 S2
1.2865
R3 S3
1.2890
R4
Commentary
S4
1.2915
Buy Above 1.2840
1.2872
1.2815
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2805
1.2780
1.2828
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/CAD: The CAD strengthened sharply in previous session and touched 1.2808 mark. Today the
pair made intraday high at 1.2836 and low at 1.2814 mark. Today a day chart is up and H1 chart with
triple EMA suggests down trend for the time being. A sustained close above 1.2840 on H1 chart
requires for the upside rally. Alternatively, a consistent close below 1.2802 on H1 chart will check key
supports too.
USD /CAD
1.2802
1.2782
1.2750
1.2722
JULY,
2022

7. BUY SELL
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Technical Summary
Trend Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
136.12
R2 S2
136.30
R3 S3
136.55
R4
Commentary
S4
136.72
Buy Above 135.72
136.05
135.38
– Take Profit
– Stop Loss
Trade Idea
Sell Below 135.10
134.68
135.51
– Take Profit
– Stop Loss
Trade Idea
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Time Frame: H1
USD/JPY: The Japanese yen recovers sharply from previous losses and remains well supported
below 135.50 mark. The pair made intraday high at 136.42 and low at 135.09 mark. The triple EMAon
a day chart is up and H1 chart suggests down trend for the time being.Asustained close above 136.12
on H1 chart requires for the upside rally.Alternatively, a consistent close below 135.30 on H1 chart will
check further key supports.
USD /JPY
134.90
134.65
134.50
134.22
JULY,
2022

8. BUY SELL
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Technical Summary
Trend Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1742
R2 S2
1748
R3 S3
1754
R4
Commentary
S4
1760
Buy Above 1742
1749
1735
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1730
1722
1738
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold trades extremely higher after FOMC meeting and touched $1,741 mark.
Today the pair made intraday high at $1,741 and low at $1,734 mark. Today a day chart is downs and
H1 chart with triple EMA suggests up trend for the time being. A sustained close above $1,742 on H1
chart requires for the upside rally. Alternatively, a consistent close below $1,732 on H1 chart will test
further supports.
XAU [GOLD]
USD
/
1732
1727
1721
1715
JULY,
2022

9. Thank
you!
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