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Daily Forex Technical Analysis Report - January 04, 2020

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 - January 04, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 04 January, 2021 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: U.S. dollar trades marginally lower against major peers, Asian stock markets no ceably up, gold hits fresh 2 – month high at $1,925 mark Asian Headlines: • Australia manufacturing PMI stands at 55.7 vs 55.8 previous release (expected 56.0). • Singapore GDP q/q stands at 8.7 vs 42.3 previous release (expected 35.3). • Singapore URA property Index stands at 2.1 vs 0.3 pct previous release. • South Korea Nikkei manufacturing PMI remains unchanged at 52.9. • Japan final manufacturing PMI stands at 50.0 vs 49.7 previous release (expected 49.7). • China Caixin manufacturing PMI stands at 53.0 vs 54.9 previous release (expected 54.7). Economic Data Ahead: • (0815 GMT/1345 IST) Spain Manufacturing PMI, previous 49.8, expected 52.6. • (0830 GMT/1400 IST) Swiss Manufacturing PMI, previous 55.2, expected 54.4. • (0845 GMT/1415 IST) Italy Manufacturing PMI, previous 51.5, expected 53.5. • (0850 GMT/1420 IST) France Manufacturing PMI, previous 51.1, expected 51.1. • (0855 GMT/1425 IST) Germany Manufacturing PMI, previous 58.6, expected 58.6. • (0900 GMT/1430 IST) Euro Manufacturing PMI, previous 55.5, expected 55.5. • (0930 GMT/1500 IST) U.K. Manufacturing PMI, 57.3, expected 57.3. • (1430 GMT/2000 IST) Canada Manufacturing PMI, 55.8. • (1445 GMT/2015 IST) U.S. Manufacturing PMI, previous 56.5, expected 56.3. Economic Events Ahead: • All Day OPEC – JMMC Mee ngs. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.24% to 89.72 points.
  3. 3. AUD / USD BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2020 Technical Summary Trends Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 S10.7740 R2 S20.7792 R3 S30.7827 R4 Commentary S40.7854 Buy Above 0.77380 0.77585 0.77189 – Take Profit – Stop Loss Trade Idea Sell Above 0.76744 0.76528 0.77147 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 AUD/USD: The Aussie reverses previous gain of opening hours as Aussie released manufacturing PMI data with negative numbers. The overall trend seems to be positive as both RSI and Moving Average is trending in upward direction. On the top side key hurdle is at $0.7040 mark and sustained close above will give further direction to the parity. 0.7676 0.7602 0.7520 0.7450
  4. 4. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2020 Technical Summary Trends Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 S11.2292 R2 S21.2310 R3 S31.2332 R4 Commentary S41.2368 Buy Above 1.22741 1.23008 1.22500 – Take Profit – Stop Loss Trade Idea Sell Above 1.22297 1.22108 1.22490 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 EUR/USD: The euro starts a new week on a flat note ahead of manufacturing PMI data from the Euro zone. The key ranges for the parity will be $1.2292 and $1.2240 mark. A sustained break of either side will provide further directions to the parity. On the basis of hourly chart analysis, RSI and MA seem to have downside pressure. EUR / USD 1.2180 1.2240 1.2206 1.2180 1.2122
  5. 5. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2020 Technical Summary Trends Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 S11.3698 R2 S21.3722 R3 S31.3792 R4 Commentary S41.3849 Buy Above 1.37150 1.37528 1.36762 – Take Profit – Stop Loss Trade Idea Sell Above 1.36500 1.36070 1.36907 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 GBP/USD: The sterling continues to trades higher ahead of Final Manufacturing PMI data and hits highest level of $1.3698 mark since May 2018. The daily forecast of the pair is upward only as both RSI and MA are supporting with technical levels too. GBP / USD 1.3648 1.3580 1.3522 1.3487
  6. 6. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2020 Technical Summary Trends Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 S11.2756 R2 S21.2812 R3 S31.2853 R4 Commentary S41.2906 Buy Above 1.27263 1.27550 1.26837 – Take Profit – Stop Loss Trade Idea Sell Above 1.26836 1.26553 1.27370 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/CAD: The Canadian dollar rises noticeably on Monday and tries to stabilize around key support level at 1.2688 mark. A sustained break out will take the parity down to check the key support levels otherwise reversal from this will take the parity again upside to check important resistances. The key event for the CAD will be manufacturing PMI data scheduled at 1430 GMT. USD /CAD 1.2688 1.2654 1.2600 1.2572
  7. 7. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2020 Technical Summary Trends Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 S1103.76 R2 S2104.22 R3 S3104.50 R4 Commentary S4104.70 Buy Above 103.201 103.384 103.011 – Take Profit – Stop Loss Trade Idea Sell Above 102.995 102.682 103.112 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/JPY: The Japanese yen remains volatile in early Asia and touches 102.93 mark in opening hours. By looking at the hourly chart, the pair is trading around the key support level at 102.89 mark. A successful breakout will check the key support levels otherwise reversal from this will take the parity up to check major resistances. USD /JPY 102.89 102.45 102.10 101.50
  8. 8. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2020 Technical Summary Trends Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 S11,927 R2 S21,932 R3 S31,940 R4 Commentary S41,948 Buy Above 1927.56 1940.11 1912.06 – Take Profit – Stop Loss Trade Idea Sell Above 1911.77 1901.79 1924.39 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 XAU/USD (GOLD): Gold spikes up and touches $1,925 mark in Asian hours. The technical tools like RSI and MA both indicating upside trend for the day too. Later in the U.S. session, U.S. manufacturing PMI and FOMC members’ speeches are scheduled to release, which will provide further direction to the parity. XAU [GOLD]USD/ 1,920 1,912 1,902 1,890
  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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