DAILY ANALYSIS REPORT MAY 18 2022

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18 May 2022
Daily Analysis Report

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Asian Bulle n: U.S. dollar strengthened sharply a er robust retail sales and industrial produc on data, Asian stock markets mixed, gold back below $1,810 mark
Key Headlines:
• Japan Prelim GDP price index stands at -0.4 pct vs -1.3 pct previous release.
• Japan Prelim GDP q/q stands at -0.2 pct vs 1.1 pct previous release.
• Australia MI leading index stands at -0.2 pct vs 0.3 pct previous release.
• Australia Wage Price index remains unchanged at 0.7 pct.
• Credit Suisse Group AG's credit ra ng has been downgraded to BBB from BBB+ by Standard & Poors, a blow for the Swiss bank which reported a first quarter loss and is facing
increasing shareholder unrest following a string of scandals – Reuters.
• Saudi Arabia on Monday extended a deposit it gave the central bank of Yemen's interna onally recognised government in 2018, and agreed to pay the final installment of the
promised $2 billion, the central bank and Saudi ambassador to Yemen said – Reuters.
• U.S. stock index futures jumped on Tuesday, as strong earnings from Home Depot and United Airlines added to an upbeat global mood driven by hopes of easing crackdown on tech
firms and COVID-19 in China – Reuters.
• Children below the age of five are not yet eligible for a COVID-19 vaccine in the United States – Reuters.
• Spain's le ist coali on government on Tuesday approved a dra bill to reinforce abor on rights and make Spain the first country in Europe to offer state-funded paid leave for
women who suffer from painful periods – Reuters.
• The World Health Organiza on's Europe chief sounded the alarm on Tuesday about healthcare provision in Ukraine during the war with Russia and called for an inves ga on into
more than 200 a acks on the healthcare system – Reuters.
• A senior World Health Organiza on official said on Tuesday that high levels of transmission of the coronavirus among unvaccinated people, such as in North Korea, creates a higher
risk of new variants – Reuters.
• U.S. House Democrats on Tuesday unveiled a bill to provide $28 million in emergency funds to the Food and Drug Administra on (FDA) to help it respond to a na onwide shortage of
infant formula and strengthen supervision of the industry – Reuters.
• Fed's Powell - There is real possibility that globaliza on will go into reverse to some extent.
• Fed's Powell - We know this is a me for fed to be ghtly focused on ge ng infla on down.
• Fed Chair Powell - We need to see infla on coming down in convincing way.
• Fed's Powell - Ongoing rate increases appropriate.
• Fed's Powell - By standards of central bank prac ce, we moving as fast as we have in several decades.
• Fed's Powell - we need the supply side to have a chance to catch up.
• Fed's Powell - If we don't see that, we'll have to move more aggressively.
• Fed's Powell - If we see clear evidence of infla on slowing down, we can slow pace of hikes.
• Fed's Powell - We are raising rates expedi ously to more normal level.
• Fed's Powell - Neutral is not necessarily a stopping point, if we have to go beyond neutral we will not hesitate.
• Fed's Powell - We will con nue to raise rates un l we see infla on coming down.
• Fed's Powell - we will ghten un l we are at a place where financial condi ons are appropriate and infla on is coming down.
• Fed's Powell - There could be some economic pain involved to get infla on down.
Key Economic Indicators Ahead:
• (0600 GMT/1130 IST) U.K. CPI, previous 7.0, expected 9.1.
• (0600 GMT/1130 IST) U.K. Core CPI, previous 5.7, expected 6.2.
• (0600 GMT/1130 IST) U.K. PPI Input, previous 5.2, expected 1.0.
• (0600 GMT/1130 IST) U.K. PPI Output, previous 2.0, expected 1.1.
• (0830 GMT/1400 IST) U.K. HPI, previous 10.9, expected 9.8.
• (0900 GMT/1430 IST) Euro Final CPI, previous 7.5, expected 7.5.
• (0900 GMT/1430 IST) Euro Final Core CPI, previous 3.5, expected 3.5.
• (1230 GMT/1800 IST) Canada CPI, previous 1.4, expected 0.5.
• (1230 GMT/1800 IST) U.S. Building Permits, previous 1.87M, expected 1.81M.
• (1230 GMT/1800 IST) U.S. Housing Starts, previous 1.79M, expected 1.75M.
Economic Events Ahead:
• All Day – G7 Mee ngs.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.10% to 103.47 points.

3. AUD / USD
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
0.7040
R2 S2
0.7076
R3 S3
0.7099
R4
Commentary
S4
0.7122
Buy Above 0.7040
0.7072
0.7011
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.6981
0.6954
0.7015
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie weakens on Wednesday and hovers around $0.7000 mark. Today pair made
intraday high at $0.7046 and low at $0.6995 mark. A day chart is down and H1 chart with triple EMA
suggests up trend for the time being. A sustained close above $0.7040 on H1 chart requires for the
upside rally.Alternatively, a consistent close below $0.6970 will check further supports.
0.6970
0.6952
0.6926
0.6902
MAY,
2022

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.0564
R2 S2
1.0582
R3 S3
1.0618
R4
Commentary
S4
1.0650
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-
Time Frame: H1
EUR/USD: The euro trades in narrow range ahead of Euro’s CPI and Core CPI data and remains well
supported above $1.0500 mark. The pair made intraday high at $1.0563 and low at $1.0524 mark.
Today triple EMA on a day chart is down and H1 chart suggests up trend for the time being. A
consistent close above $1.0555 on H1 chart requires for the upside rally. Alternatively, a sustained
close below $1.0515 on H1 chart will check further supports.
EUR / USD
1.0515
1.0489
1.0465
1.0450
Buy Above 1.0555
1.0580
1.0530
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.0515
1.0476
1.0540
– Take Profit
– Stop Loss
Trade Idea
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50
MAY,
2022

5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.2490
R2 S2
1.2521
R3 S3
1.2550
R4
Commentary
S4
1.2576
Buy Above 1.2501
1.2538
1.2472
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2450
1.2410
1.2475
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The sterling trades flat ahead of U.K.’s CPI and Core CPI data and trading around
$1.2470 mark. Today pair made intraday high at $1.2500 and low at $1.2462 mark. A day chart is
down and H1 chart with triple EMA suggests up trend for the time being. A sustained close above
$1.2490 on H1 chart will check key resistances. Alternatively, a consistent close below $1.2422 will
check further supports.
USD
1.2450
1.2422
1.2401
1.2381
GBP/
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
MAY,
2022

6. BUY SELL
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Technical Summary
Trends Up Trend
Moving Average (Period=75) Above MA
H 1
RSI (Period=26) Above RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1.2850
R2 S2
1.2872
R3 S3
1.2899
R4
Commentary
S4
1.2918
Buy Above 1.2860
1.2892
1.2830
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2805
1.2770
1.2830
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The CAD erases previous gain against U.S. dollar and trading above 1.2830 mark ahead
of Canada’s CPI data. Today the pair made intraday high at 1.2841 and low at 1.2794 mark. Today a
day chart is up and H1 chart with triple EMAsuggests down trend for the time being.Asustained close
above 1.2850 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2805
on H1 chart will check key supports too.
USD /CAD
1.2790
1.2754
1.2722
1.2701
MAY,
2022

7. 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
129.62
R2 S2
129.96
R3 S3
130.26
R4
Commentary
S4
130.55
Buy Above 129.50
129.81
129.27
– Take Profit
– Stop Loss
Trade Idea
Sell Below 128.91
128.58
129.27
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY: The Japanese yen trades marginally higher after robust Prelim GDP data and stabilizes
above 129.00 mark. The pair made intraday high at 129.53 and low at 129.07 mark. The triple EMAon
a day chart is up and H1 chart suggests down trend for the time being.Asustained close above 129.62
on H1 chart requires for the upside rally.Alternatively, a consistent close below 128.88 on H1 chart will
check further key supports.
USD /JPY
128.88
128.60
128.24
128.01
MAY,
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
1818
R2 S2
1824
R3 S3
1828
R4
Commentary
S4
1832
Buy Above 1818
1824
1811
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1804
1798
1811
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold weakened sharply in previous session after Fed Chair Powell’s comments
and slips back below $1,810 mark. Today pair made intraday high at $1,817 and low at $1,807 mark.A
day chart and H1 chart with triple EMAsuggest down trend for the time being.Asustained close above
$1,818 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,804 on H1
chart will test further supports. U.S. housing starts and building permits data will remain in focus.
XAU [GOLD]
USD
/
1804
1796
1791
1786
MAY,
2022

9. Thank
you!
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