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Daily Forex Technical Analysis Report - December 02, 2020

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Let's review all the major instrument analysis including: #audusd #eurusd #gbpusd #usdcad #usdjpy #gold #xauusd

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Daily Forex Technical Analysis Report - December 02, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 02 December, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Euro rises sharply and hits highest level since May 2018, Asian stock markets mixed, gold stabilizes above $1,800 mark Asian Headlines: • New Zealand overseas trade index stands at -4.7 pct vs 2.4 pct previous release (expected -3.7). • Japan monetary base stands at 16.5 pct vs 16.3 pct previous release (expected 17.2). • Australia GDP q/q stands at 3.3 pct vs -7.0 pct previous release (expected 2.5). Economic Data Ahead: • (0700 GMT/1230 IST) Germany Retail sales, previous -2.2, expected 1.3. • (0730 GMT/1300 IST) Swiss CPI, previous 0.0, expected -0.1. • (0800 GMT/1330 IST) Spain unemployment change, previous 49.6K, expected 54.5K. • (0900 GMT/1430 IST) Italy unemployment rate, previous 9.6, expected 9.9. • (1000 GMT/1530 IST) Euro PPI, previous 0.3, expected 0.2. • (1000 GMT/1530 IST) Euro unemployment rate, previous 8.3, expected 8.4. • (1315 GMT/1845 IST) U.S. ADP job data, previous 365K, expected 433K. Economic Events Ahead: • (1500 GMT/2030 IST) Fed Chair Powell’s Tes mony Day 02. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.13% to 91.19 points. USD/JPY: The Japanese yen exhibits range bound movement and stabilizes above 104.00 mark. A sustained close above 104.44 will take the parity higher towards key resistance around 104.70, 104.90, 105.22, 105.64, 105.92, 106.22 and 106.76 mark respec vely. On the other side, a consistent close below 103.73 will drag the parity down towards 103.65, 103.50, 103.17 and 102.80 marks respec vely. AUD/USD: The Aussie remains almost unchanged a er robust GDP data. The pair made intraday high at $0.7389 and low at $0.7362 marks. On the top side key resistances are seen at $0.7424, $0.7456, $0.7476 and $0.7520 mark respec vely. On the other hand, a consistent close below $0.7340 will take the parity down towards key supports around $0.7298, $0.7270, $0.7220, $0.7190, $0.7170, $0.7122, $0.7090 and $0.7052 mark respec vely. NZD/USD: The Kiwi spikes up sharply and touches $0.7073 mark in Asian hours. The pair hits highest level since April 2018. Pair made intraday high at $0.7073 and low at $0.7054 mark. Key resistances are seen at $0.7082, $0.7132 and $0.7157 mark respec vely. Alterna vely, a consistent close below $0.7018 will drag the parity down towards key supports around $0.6960, $0.6922, $0.6850, $0.6783 and $0.6750 mark respec vely. USD/INR: The Indian rupee erases previous gain against U.S. dollar and trading marginally lower at 73.55 mark. The pair made intraday high at 73.60 and low at 73.37 marks. A sustained close below 73.43 marks will drag the parity down towards 73.20, 72.87, 72.65, 72.40 and 72.12 mark respec vely. On the top side key resistances are seen at 74.02, 74.40, 74.65, 75.02, 75.27, 75.39 and 75.62 marks respec vely. EUR/USD: The euro strengthens sharply and jumps above $1.20 mark. The pair made intraday high at $1.2083 and low at $1.2060 mark. A sustained close above $1.2067 tests key resistances at $1.2082, $1.2122, $1.2150 and $1.2190 mark respec vely. On the other side, a sustained close below $1.1950 will target key supports around $1.1900, $1.1850, $1.1802, $1.1770, $1.1740, $1.1672, $1.1640, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The pound appreciates and jumps back above $1.34 mark. Today pair made intraday high at $1.3429 and low at $1.3406 mark. A sustained close above $1.3411 will drag the parity up towards $1.3450, $1.3478 and $1.3525 mark respec vely. Key support levels are seen at $1.3290, $1.3263, $1.3222, $1.3170, $1.3122, $1.3090, $1.3054, $1.3002 and $1.2950 mark respec vely. Commodity Trend: XAU/USD (GOLD): Gold rose sharply on previous session and touched $1,817 mark. Today pair made intraday high at $1,815 and low at $1,808 mark. A sustained close above $1,815 requires for the upside rally. On the other side, consistent close below $1,815 will check key supports as well. Key support levels are seen around $1,802, $1,787, $1,776, $1,764, $1,758, $1,747, $1,740 and $1,720 mark respec vely. Key resistances are seen at $1,822, $1,832, $1,840, $1,857, $1,876 and $1,882 marks respec vely. XAG/USD (Silver): Silver trades slightly lower and trading around $23.50 mark. Today pair made intraday high at $24.00 and low at $23.55 mark. A sustained close above $24.00 requires for upside rally. Key support levels are seen at $23.35, $22.50, $21.90, $21.76, $21.72, $21.60 and $21.49 marks respec vely. Key resistances are seen at $23.72, $24.22, $24.78 and $25.02 marks respec vely.
  3. 3. AUD / USD REPORTFROM:TPGLOBALFXDECEMBER,2020 Time Frame: H1 INDICATORS Trends Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RIS LEVEL 50 FIBO Levels PIVOT R1 0.73740 S1 0.73488 Buy Above 0.73899 0.74000 0.73543 0.73543 0.73443 0.73899 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.73819 S2 0.73409 R3 0.73945 S3 0.73283 R4 0.74150 S4 0.73078 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.73614
  4. 4. EUR / USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS Trends Up Trend Moving Average (Period=75 Above MA H 1 RSI (Period=26) Above RIS LEVEL 50 FIBO Levels PIVOT R1 1.20817 S1 1.19661 Buy Above 1.20976 1.21220 1.19990 1.19990 1.19546 1.20976 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.21173 S2 1.19305 R3 1.21751 S3 1.18727 R4 1.22685 S4 1.17793 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.20239 DECEMBER,2020
  5. 5. GBP / USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS Trends Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RIS LEVEL 50 FIBO Levels PIVOT R1 1.34416 S1 1.33444 Buy Above 1.34508 1.34769 1.33644 1.33644 1.33272 1.34508 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.34715 S2 1.33145 R3 1.35201 S3 1.32659 R4 1.35986 S4 1.31874 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.33930 DECEMBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.29897 S1 1.29395 Buy Above 1.29831 1.30080 1.29275 1.29275 1.29084 1.29831 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.30053 S2 1.29239 R3 1.30304 S3 1.28988 R4 1.30711 S4 1.28581 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.29646 Trend Down Trend Moving Average (Period=75) Below MA RSI (Period=26) Below RIS LEVEL 50 DECEMBER,2020
  7. 7. USD /JPY REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 104.502 S1 104.200 Buy Above 104.520 104.668 104.078 104.078 103.927 104.520 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 104.596 S2 104.106 R3 104.747 S3 103.955 R4 104.992 S4 103.710 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 104.351 Trends Up Trend Moving Average (Period=75) Above MA RSI (Period=26) Above RIS LEVEL 50 DECEMBER,2020
  8. 8. XAU / [GOLD]USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1818.45 S1 1786.73 Buy Above 1820.66 1829.75 1792.93 1792.93 1781.51 1820.66 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1828.25 S2 1776.93 R3 1844.11 S3 1761.07 R4 S4 1735.41 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1802.59 Trends Up Trend Moving Average (Period=75) Above MA RSI (Period=26) Above RIS LEVEL 50 1869.77 DECEMBER,2020
  9. 9. Thank you! Info@tpglobalfx.com www.tpglobalfx.com REPORTFROM:TPGLOBALFX /tpglobalfx /tpglobalfx /tpglobalfx /tpglobalfx that even knowledgeable and well-experienced investors can experience large potential losses as a result of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. IPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc. This site is run and operated by – TP Global Services Limited registered by FSA, St. Vincent and the Grenadines with Number 25274 BC 2019 TP Global Services Limited does not offer its services to residents of certain jurisdictions such as USA, and British Columbia. Disclamer: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note

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