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Daily Forex Technical Analysis Report - January 12, 2021

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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 - January 12, 2021

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 12 January, 2021 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: U.S. dollar trades flat against major peers, Asian stock markets mixed, gold hovers around $1,850 mark Key Headlines: • Japan Finance Minister Taro Aso – Government will provide JPY400K to hard - hit small firms due to pandemic. • Japan bank lending remains unchanged at 6.2 pct (expected 6.5 pct). • Japan Current account stands at 2.34T vs 1.98T previous release (expected 2.00T). • U.K. BRC retail sales monitor stands at 4.8 pct vs 7.7 pct previous release (expected 5.9 pct). • PBoC fixes USD/CNY reference rate at 6.4823 (previous fix 6.4764; previous close 6.4793). • BOE MPC member Tenreyro - BOE work on feasibility of Nega ve Interest Rates s ll in progress, rates could ‘Theore cally’ go below -0.75%. • BOE MPC member Tenreyro – Possible that more s mulus be needed to do so at an appropriate pace. • Ar cle will be introduced at 11am ET charging Trump with “incitement of insurrec on” by the house. • The most traded cryptocurrency Bitcoin by market value slumped to US $30,261 on Monday, having set record highs at US $42,000 on last Friday. • Fed’s Bos c - Jobs improvement, infla on signals needed for tapering; s ll open to an Idea of tapering bond buying in 2021. • Fed's Kaplan - GDP growth in Q1 will probably be posi ve, expects 2021 GDP to grow 5%. • Fed's Kaplan - Expects unemployment to fall To 4.5 - 4.75 pct by end of year. Economic Data Ahead: • (1100 GMT/1630 IST) U.S. NFIB small business index, previous 101.4, expected 100.1. • (1500 GMT/2030 IST) U.S. JOLTS job openings, previous 6.65M, expected 6.42M. Economic Events Ahead: • (1000 GMT/1530 IST) U.K. MPC member Broadbent speaks. • (1435 GMT/2005 IST) U.S. FOMC member Brainard speaks. 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 90.56 points.
  3. 3. AUD / USD BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2021 Technical Summary Trends Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 S10.7757 R2 S20.7800 R3 S30.7854 R4 Commentary S40.7878 Buy Above 0.77184 0.77354 0.76928 – Take Profit – Stop Loss Trade Idea Sell Below 0.76638 0.76408 0.76952 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 AUD/USD: The Aussie exhibits range bound movement against U.S. dollar and consolidates around $0.77 mark. On a 60 – minute timeframe, a consistent close below $0.7660 requires for the downside trend. Alternatively, reversal from this will take the parity back above $0.7750 mark. 0.7660 0.7590 0.7520 0.7436
  4. 4. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2021 Technical Summary Trends Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) FIBO Levels PIVOT R1 S11.2183 R2 S21.2240 R3 S31.2292 R4 Commentary S41.2323 Buy Above 1.21904 1.22150 1.21665 – Take Profit – Stop Loss Trade Idea Sell Below 1.21255 1.20950 1.21627 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 EUR/USD: The euro trades flat on Tuesday and hovers around $1.2140 mark. This is the lowest level since Dec 21, 2020. On a daily time frame, both RSI and MA support the bearish trend for the time being but sustained close of daily candle below $1.2140 requires to check the key supports. EUR / USD 1.2140 1.2101 1.2078 1.2022 Below RSI LEVEL 50
  5. 5. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2021 Technical Summary Trends Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 S11.3520 R2 S21.3581 R3 S31.3622 R4 Commentary S41.3676 Buy Above 1.35389 1.35752 1.34996 – Take Profit – Stop Loss Trade Idea Sell Below 1.34927 1.34639 1.35291 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 GBP/USD: The sterling depreciated sharply on late U.S. session after BOE MPC member talked to introduce negative interest rates. The key boundaries for the day will be $1.3538 and $1.3445 mark. A sustained break of either side will provide further direction to the parity. From the fundamental point, MPC member Broadbent’s speech will be in focus. GBP / USD 1.3487 1.3440 1.3404 1.3350
  6. 6. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2021 Technical Summary Trends Up Trend Moving Average (Period=75A) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 S11.2791 R2 S21.2812 R3 S31.2853 R4 Commentary S41.2906 Buy Above 1.28016 1.28271 1.27643 – Take Profit – Stop Loss Trade Idea Sell Below 1.27626 1.27432 1.27905 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/CAD: The Canadian dollar trades marginally lower on Tuesday. The pair made intraday high at 1.2791 and low at 1.2766 mark. The technical tools like RSI, MA confirm the upside trend for the time being. USD /CAD 1.2654 1.2600 1.2572 1.2540
  7. 7. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2021 Technical Summary Trends Up Trend Moving Average (Period=75) Above MA H 1 RSI (Period=26) Above RSI LEVEL 50 FIBO Levels PIVOT R1 S1104.22 R2 S2104.90 R3 S3105.40 R4 Commentary S4105.94 Buy Above 104.375 104.668 104.035 – Take Profit – Stop Loss Trade Idea Sell Below 104.071 103.886 104.289 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 USD/JPY: The Japanese yen remains slightly volatile in early Asia after mixed economic data. The current upside movement breaks the downside sloping channel and stabilizes above key resistance at 104.22 mark. . A sustained close above 104.22 requires for the bullish trend. The RSI and MA support the upside price trend for the time being. USD /JPY 103.76 102.90 102.45 102.10
  8. 8. BUY SELL REPORTFROM:TPGLOBALFXJANUARY,2021 Technical Summary Trends Down Trend Moving Average (Period=75) Below MA H 1 RSI (Period=26) Below RSI LEVEL 50 FIBO Levels PIVOT R1 S11853 R2 S21862 R3 S31876 R4 Commentary S41885 Buy Above 1859.04 1864.77 1848.11 – Take Profit – Stop Loss Trade Idea Sell Below 1839.94 1833.98 1849.96 – Take Profit – Stop Loss Trade Idea +1 7754 366 970 analysis@tpglobalfx.com - Time Frame: H1 XAU/USD (GOLD): Gold enjoys roller - coaster movement amid political uncertainties, severe pandemic situation and expectations on additional stimulus by Biden. On a daily timeframe; RSI, MA confirms the downtrend. The key ranges for the gold will be $1,862 - $1,827 mark. A sustained close of either side will give further direction to the parity. XAU [GOLD]USD/ 1840 1832 1827 1816
  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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