The document is a daily analysis report from TP Global FX that includes: - Key Asian market headlines on weak retail sales in New Zealand and manufacturing PMIs in Australia. - Technical analysis and trade ideas for several currency pairs including buys above and sells below resistance and support levels. - A look at upcoming key economic indicators from France, Germany, the UK, eurozone, and the US including flash PMIs and new home sales. - Major FX pair trends and economic speaking events from the US Fed chair and ECB president.

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24 May 2022
Daily Analysis Report

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Asian Bulle n: U.S. dollar trades almost flat against major peers ahead of U.S. Flash PMI data, Asian stock markets in red, gold stabilizes above $1,850 mark
Key Headlines:
• New Zealand Core Retail Sales stand at 0.0 pct vs 6.8 pct previous release.
• New Zealand Retail Sales stand at -0.5 pct vs 8.3 pct previous release.
• Australia Flash Manufacturing PMI stands at 55.3 vs 58.8 previous release.
• Australia Flash Services PMI stands at 53.0 vs 56.1 previous release.
• Japan Manufacturing PMI stands at 53.2 vs 53.5 previous release.
• Russia's central bank will from June 1 li a ban on short selling of securi es and on buying of foreign currencies using credit leveraging, in moves to increase market liquidity as
vola lity has subsided, it said on Friday – Reuters.
• Russia rushed forward two payments on its interna onal debt on Friday in its latest a empt to stave off a default that has looked on cards since its invasion of Ukraine – Reuters.
• Romania's central bank board unanimously voted to raise the benchmark interest rate by a bigger than expected 75 basis points to 3.75% at its May 10 mee ng as it expected
sharply higher infla on, minutes published on Friday showed – Reuters.
• U.S. President Joe Biden said he was weighing cu ng tariffs on Chinese goods while increasing calls on OPEC to raise oil produc on as he grappled with a poli cally damaging wave
of infla on – Reuters.
• U.S. consumers are using their exis ng vehicles for longer as the inventory of new cars and light trucks remains constrained due to supply chain challenges, marking an all- me high
for the average age, according to a report from S&P Global Mobility – Reuters.
• India's Mahindra and Mahindra will explore sourcing more components from other companies to boost its electric vehicle (EV) por olio, its chief execu ve told Reuters – Reuters.
• The global job market is at risk of doing a U-turn on its path towards recovering to pre-COVID-19 levels as lockdowns in China and the war in Ukraine weigh on economies, the
Interna onal Labour Organiza on (ILO) said in a report on Monday – Reuters.
• U.S. health officials are in the process of releasing some Jynneos vaccine doses for use in monkeypox cases, the Centers for Disease Control and Preven on (CDC) said on Monday –
Reuters.
• The Serum Ins tute of India (SII), the world's biggest vaccine maker, is considering se ng up its first manufacturing plant in Africa as it looks to expand globally a er its success in
selling COVID-19 shots, its CEO told Reuters on Monday – Reuters.
• The UK Health Security Agency said on Monday that it had detected 36 addi onal cases of monkeypox in England, taking the total number of confirmed cases since May 7 to 56 –
Reuters.
• Drugmakers Pfizer Inc and BioNTech SE said on Monday that three doses of their COVID-19 vaccine generated a strong immune response in children under age 5 and was safe and
well-tolerated in their clinical trial – Reuters.
• The U.S. Food and Drug Administra on set June 14-15 as the new mee ng date to review Moderna Inc's emergency authoriza on request for its COVID-19 vaccine for children aged
6 months to 5 years and Pfizer Inc's vaccine for those aged 6 months through 4 years – Reuters.
Key Economic Indicators Ahead:
• (0715 GMT/1245 IST) France Flash Services PMI, previous 58.9, expected 58.4.
• (0715 GMT/1245 IST) France Flash Manufacturing PMI, previous 55.7, expected 55.3.
• (0730 GMT/1300 IST) German Flash Services PMI, previous 57.6, expected 57.2.
• (0730 GMT/1300 IST) German Flash Manufacturing PMI, previous 54.6, expected 54.1.
• (0800 GMT/1330 IST) Euro Flash Services PMI, previous 57.7, expected 57.3.
• (0800 GMT/1330 IST) Euro Flash Manufacturing PMI, previous 55.5, expected 54.8.
• (0830 GMT/1400 IST) U.K. Flash Services PMI, previous 58.9, expected 56.9.
• (0830 GMT/1400 IST) U.K. Flash Manufacturing PMI, previous 55.8, expected 54.9.
• (1000 GMT/1530 IST) U.K. CBI realized sales, previous -35, expected -29.
• (1345 GMT/1915 IST) U.S. Flash Services PMI, previous 55.6, expected 55.1.
• (1345 GMT/1915 IST) U.S. Flash Manufacturing PMI, previous 59.2, expected 57.6.
• (1400 GMT/1930 IST) U.S. New Home Sales, previous 763K, expected 751K.
• (1400 GMT/1930 IST) U.S. Richmond Manufacturing Index, previous 14, expected 9.
Economic Events Ahead:
• (1620 GMT/2150 IST) U.S. Fed Chair Powell Speaks.
• (1800 GMT/2330 IST) ECB President Lagarde Speaks.
• All Day – ECOFIN Mee ngs.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.14% to 102.22 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
0.7099
R2 S2
0.7122
R3 S3
0.7154
R4
Commentary
S4
0.7176
Buy Above 0.7099
0.7122
0.7062
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.7060
0.7030
0.7090
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie depreciates on Tuesday as Flash PMI data misses expectations. Today pair
made intraday high at $0.7107 and low at $0.7065 mark. A day chart is down and H1 chart with triple
EMA suggest up trend for the time being. A sustained close above $0.7099 on H1 chart requires for
the upside rally.Alternatively, a consistent close below $0.7072 will check further supports.
0.7060
0.7022
0.7001
0.6978
MAY,
2022

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.0693
R2 S2
1.0718
R3 S3
1.0754
R4
Commentary
S4
1.0792
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-
Time Frame: H1
EUR/USD: The euro spiked up sharply in previous session and touched $1.0697 mark. Today pair
trades in narrow range ahead of Flash PMI results from the Euro area. The pair made intraday high at
$1.0693 and low at $1.0660 mark. Today triple EMAon a day chart is down and H1 chart suggests up
trend for the time being. A consistent close above $1.0693 on H1 chart requires for the upside rally.
Alternatively, a sustained close below $1.0648 on H1 chart will check further supports.
EUR / USD
1.0648
1.0622
1.0600
1.0578
Buy Above 1.0699
1.0735
1.0660
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.0650
1.0621
1.0682
– 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
1.2592
R2 S2
1.2622
R3 S3
1.2650
R4
Commentary
S4
1.2678
Buy Above 1.2581
1.2624
1.2550
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2540
1.2501
1.2576
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The sterling appreciates trades slightly lower on Tuesday and remains well supported
below $1.2600 mark. Today air made intraday high at $1.2587 and low at $1.2547 mark.Aday chart
is down and H1 chart with triple EMA suggests up trend for the time being. A sustained close above
$1.2587 on H1 chart will check key resistances. Alternatively, a consistent close below $1.2550 will
check further supports.
USD
1.2540
1.2512
1.2482
1.2450
GBP/
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above 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
1.2815
R2 S2
1.2855
R3 S3
1.2872
R4
Commentary
S4
1.2899
Buy Above 1.2815
1.2851
1.2790
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2789
1.2762
1.2815
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The CAD enjoys roller coaster movement and currently stabilizes above 1.2800 mark.
Today the pair made intraday high at 1.2813 and low at 1.2763 mark. Today a day chart is up and H1
chart with triple EMA suggests down trend for the time being. A sustained close above 1.2815 on H1
chart requires for the upside rally.Alternatively, a consistent close below 1.2790 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 Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
128.22
R2 S2
128.50
R3 S3
128.79
R4
Commentary
S4
129.00
Buy Above 127.96
128.30
127.70
– Take Profit
– Stop Loss
Trade Idea
Sell Below 127.40
127.10
127.72
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY:The Japanese yen exhibits range bound movement and consolidates around 127.70 mark.
The pair made intraday high at 128.08 and low at 127.62 mark. The triple EMAon a day chart is up and
H1 chart suggests down trend for the time being.Asustained close above 127.95 on H1 chart requires
for the upside rally. Alternatively, a consistent close below 127.50 on H1 chart will check further key
supports.
USD /JPY
127.50
127.30
127.12
127.01
MAY,
2022

8. 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
1858
R2 S2
1864
R3 S3
1870
R4
Commentary
S4
1876
Buy Above 1858
1864
1852
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1848
1841
1854
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold trades in narrow range on Tuesday and remains well supported above
$1,850 mark ahead of Flash PMI data. Today pair made intraday high at $1,857 and low at $1,849
mark. A day chart is down and H1 chart with triple EMA suggests up trend for the time being. A
sustained close above $1,858 on H1 chart requires for the upside rally. Alternatively, a consistent
close below $1,848 on H1 chart will test further supports.
XAU [GOLD]
USD
/
1848
1842
1836
1832
MAY,
2022

9. Thank
you!
Info@tpglobalfx.com
www.tpglobalfx.com
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