- The document provides an economic and market summary for the week of May 18-22, 2020. It discusses developments in major economies like the US, China, Japan, Germany, and others. It also analyzes currency pairs, gold, and crude oil based on technical indicators and provides buy/sell levels for the upcoming week. Charts are presented on the AUDUSD, EURUSD, GBPUSD, USDCAD, USDJPY, XAUUSD currency pairs to supplement the technical analysis. Readers are advised to consider fundamental events and manage risk by keeping stop losses and take profits close.

1. WHAT CHART SAYS, THIS WEEK?
(18 MAY – 22 MAY, 2020)
- BHARAT PANDYA
BHARAT@TPGLOBALFX.NET

2. EYE ON FUNDAMENTALS (LAST WEEK)

3. ECONOMY-INDIA
 Indian States Ease Labor Laws, Letting Companies Fire at Will, Extend Hours
 Uttar Pradesh suspends most labor laws for three years
 States stretch working hours to help businesses restart
Source:Bloomberg

4. ECONOMY-USA
 House Passes $3 Trillion Democratic Stimulus With No Path to Law
 Trump and Republican congressional leaders have acknowledged, however, that some sort of further economic
stimulus will likely be necessary as the economy continues to shed jobs. The number of people filing for
unemployment benefits since March now exceeds 36 million.
Source:Bloomberg

5. ECONOMY – USA
 U.S. Economy Adds to Grim Records, Signaling Years-long Recovery
 Sales at stores and restaurants plunge 16.4% from prior month
 Manufacturing output dropped by most ever in century-old data
Source:Bloomberg

6. ECONOMY – USA
 Sales at stores and restaurants plunge 16.4% from prior month
Source:Bloomberg

7. ECONOMY – USA
 Manufacturing output dropped by most ever in century-old data
Source:Bloomberg

8. ECONOMY - CHINA
 China Central Bank Governor Pledges Financial Support to Economy
 China’s central bank governor, Yi Gang, vowed to use policies such as re-lending and loan-repayment
extensions to support the virus-stricken economy.
Source:Bloomberg

9. ECONOMY - CHINA
 China’s Industrial Economy Improves While Consumers Remain Wary
Source:Bloomberg

10. ECONOMY - JAPAN
 Japan’s Recession to Be Confirmed With Worse Yet to Come
 Manufacturers’ pain seen deepening despite easing of emergency
 Prime Minister Abe already called for second extra budget
Source:Bloomberg

11. ECONOMY - GERMANY
 Germany Plunges Into Recession With Biggest Slump in Decade
 The German economy shrank 2.2% in the first quarter, the most in more than a decade, offering an early flavor
of the damage from the coronavirus outbreak.
Source:Bloomberg

12. ECONOMY – EURO ZONE
 France, Italy and Spain have all registered first-quarter contractions of around 5%. The German
economy shrank 1.7%.
Source:Bloomberg

13. ECONOMY - CRUDE
 OPEC+ Dazzles Oil Market With Swift Delivery of New Supply Cuts
 The 23-nation coalition is well on its way to cutting 9.7 million barrels of daily crude output -- roughly 10% of
global supplies
Source:Bloomberg

14. ECONOMY – GOLD, SILVER
 Gold, Silver Race Higher on Fear of Second Virus Wave
Source:Bloomberg
Gold futures for June delivery settled
0.9% higher at $1,756.30 an ounce as of
1:31 p.m. on the Comex in New York,
after climbing as much as 1.2%. Spot
prices topped their 52-week high,
heading for the highest close since
November 2012.

15. COVID 19 UPDATE
 Russian Deaths Rise; India Is New Asian Hot Spot: Virus Update
Source:Bloomberg

16. TECHNICAL AALYSIS

17. WHAT CHART SAYS, THIS WEEK?
 We are presenting an analysis for Major Currency Crosses, Gold & Crude for the next coming week
starting on MAY 18, 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 week.
 Due to High volatility, keep your SL & TP to manage RISK:REWARD Ratio
 Trade Less…Trade On Perfect Levels….

18. AUDUSD (DAILY CHART)

19. AUDUSD WEEK FORECASTING
INDICATOR DAILY CHART
TREND UP TREND
Moving Average (Period=75) ABOVE MA
RSI (Period=26) ABOVE RSI LEVEL 50
FIBO Levels
76.4% 0.6666
61.8% 0.6440
50% 0.6270
CONCLUSION
Buy Above 0.6580
Sell Below 0.6370
* Since Higher Time Frames are analysed, Trigger Prices are for Positional Trades Only!

20. EURUSD (DAILY CHART)

21. EURUSD WEEK FORECASTING
* Since Higher Time Frames are analysed, Trigger Prices are for Positional Trades Only!
INDICATOR DAILY CHART
TREND DOWN TREND
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels
50% 1.0902
61.8 % 1.08386
76.4 % 1.07643
CONCLUSION
Buy Above 1.0902
Sell Below 1.07643

22. GBPUSD (DAILY CHART)

23. GBPUSD WEEK FORECASTING
* Since Higher Time Frames are analysed, Trigger Prices are for Positional Trades Only!
INDICATOR DAILY CHART
TREND DOWN TREND
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels
61.8% 1.2495
50% 1.22875
38.2% 1.20795
CONCLUSION
Buy Above 1.2495
Sell Below 1.20795

24. USDCAD (DAILY CHART)

25. USDCAD WEEK FORECASTING
* Since Higher Time Frames are analysed, Trigger Prices are for Positional Trades Only!
INDICATOR DAILY CHART
TREND UP TREND
Moving Average (Period=75) ABOVE MA
RSI (Period=26) ABOVE RSI LEVEL 50
FIBO Levels
38.2% 1.4107
50.0 % 1.3930
61.8% 1.3770
CONCLUSION
Buy Above 1.4107
Sell Below 1.3930

26. USDJPY (DAILY CHART)

27. USDJPY WEEK FORECASTING
* Since Higher Time Frames are analysed, Trigger Prices are for Positional Trades Only!
INDICATOR DAILY CHART
TREND DOWN TREND
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels
61.8% 107.97
50.0 % 106.7
38.2% 105.37
CONCLUSION
Buy Above 108.00
Sell Below 105.89

28. BUY OR SELL?
No Clear Idea?
Wait…
We Have More
Charts ….

29. USDJPY (H4 CHART)

30. XAUUSD (DAILY CHART)

31. XAUUSD WEEK FORECASTING
* Since Higher Time Frames are analysed, Trigger Prices are for Positional Trades Only!
INDICATOR DAILY CHART
TREND UP TREND
Moving Average (Period=75) ABOVE MA
RSI (Period=26) ABOVE RSI LEVEL 50
FIBO Levels
121.6% 1807.97
100% 1747.5
76.4% 1677
CONCLUSION
Buy Above 1749
Sell Below 1680

32. BUY OR SELL?
No Clear Idea?
Wait…
We Have More
Charts ….

33. XAUUSD (H4 CHART)

34. SPECIALLY SCREENED FOR

35. THANKS FOR YOUR TIME!!