DAILY ANALYSIS REPORT AUGUST 02 2022

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02 August 2022
Daily Analysis Report

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Asian Bulle n: Aussie weakens dras cally a er RBA’s Cash Rate Decision and Monetary Policy Statement, Asian stock markets in red, gold hovers around $1,770 mark
Key Headlines:
• Japan Monetary base stands at 2.8 pct vs 3.9 pct previous release.
• Australia Building Approvals stands at -0.7 pct vs -11.2 previous release.
• RBA decided to increase the cash rate target by 50 basis points to 1.85 per cent. It also increased the interest rate on Exchange Se lement balances by 50 basis points to 1.75 per
cent.
• RBA - key source of uncertainty con nues to be the behaviour of household spending.
• RBA - Infla on in Australia is the highest it has been since the early 1990s. In headline terms, infla on was 6.1 per cent over the year to the June quarter; in underlying terms it was
4.9 per cent.
• RBA - The Bank's central forecast is for CPI infla on to be around 7¾ per cent over 2022, a li le above 4 per cent over 2023 and around 3 per cent over 2024.
• RBA - The Australian economy is expected to con nue to grow strongly this year, with the pace of growth then slowing.
• RBA - The Bank's central forecast is for GDP growth of 3¼ per cent over 2022 and 1¾ per cent in each of the following two years.
• RBA - The Bank's central forecast is for the unemployment rate to be around 4 per cent at the end of 2024.
• RBA - The Board expects to take further steps in the process of normalising monetary condi ons over the months ahead, but it is not on a pre-set path.
• RBA - The size and ming of future interest rate increases will be guided by the incoming data and the Board's assessment of the outlook for infla on and the labour market.
• RBA - The Board is commi ed to doing what is necessary to ensure that infla on in Australia returns to target over me.
• Asia stocks con nued a decline from Wall Street on Tuesday, and U.S. long-term Treasury yields sank to a four-month low, pulling the U.S. dollar down against the yen and other
currencies as investors worried about the risk of global recession – Reuters.
• The Bank of England is now expected to li borrowing costs by a bigger 50 basis points to 1.75% on Thursday as it ba les soaring infla on, according to a Reuters poll taken over the
past week a er several economists changed their minds – Reuters.
• The Bank of England says it will act forcefully if needed to stop the surge in infla on from turning into a long-term problem, meaning it could deliver a rare half-percentage point
interest rate rise as soon as this week – Reuters.
• U.S. stock index futures edged lower on Monday following a strong rally last week on earnings op mism, with investors awai ng a factory ac vity data a er similar surveys from
China and the Eurozone fueled recession worries – Reuters.
• Factories across Asia and Europe struggled for momentum in July as flagging global demand and China's strict COVID-19 restric ons slowed produc on, surveys showed on Monday,
likely adding to fears of economies sliding into recession – Reuters.
• Australian home prices slid for a third month in July and the pace quickened as Sydney suffered its worst decline in almost 40 years amid rising borrowing costs and a cost-of-living
crisis – Reuters.
• The United States is considering limi ng shipments of American chipmaking equipment to memory chip makers in China including Yangtze Memory Technologies Co Ltd (YMTC),
according to four people familiar with the ma er, part of a bid to halt China's semiconductor sector advances and protect U.S. companies – Reuters.
• Bank of America said on Friday that it is engaged in se lement talks with the U.S. Securi es and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)
over staff communica ons on unapproved devices – Reuters.
• A U.S. banking regulator is urging banks dealing with cryptocurrency companies that they need to make sure customers know which of their funds will be insured by the government
in case of collapse, and which have no safety net – Reuters.
• Cryptocurrency exchange FTX said on Friday it was fully approved to operate its exchange and clearing house in Dubai, as the Gulf emirate pushes forward with plans to develop its
digital asset sector – Reuters.
• India confirmed its first monkeypox death on Monday, a young man in the southern state of Kerala, in what is only the fourth known fatality from the disease in the current outbreak
– Reuters.
• Macau will reopen public services and entertainment facili es, and allow dining-in at restaurants from Tuesday, authori es said, as the world's biggest gambling hub seeks a return
to normalcy a er finding no COVID-19 cases for nine straight days – Reuters.
• The United States killed al Qaeda leader Ayman al-Zawahiri in a strike in Afghanistan over the weekend, President Joe Biden said on Monday, the biggest blow to the militant group
since its founder Osama bin Laden was killed in 2011 – Reuters.
• U.S. manufacturing ac vity slowed less than expected in July and there were signs that supply constraints are easing, with a measure of prices paid for inputs by factories falling to a
two-year low, sugges ng infla on has probably peaked – Reuters.
• Oil prices dropped about 4% on Monday as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week's mee ng of OPEC
and its producer allies on supply – Reuters.
Key Economic Indicators Ahead :
• (0600 GMT/1130 IST) U.K. Na onwide HPI, previous 0.3, expected 0.2.
• (0700 GMT/1230 IST) Swiss SECO Consumer Climate, previous -27, expected -31.
• (0700 GMT/1230 IST) Spanish Unemployment Change, previous -42.4K, expected -40.3K.
• (0730 GMT/1300 IST) Swiss Manufacturing PMI, previous 59.1, expected 56.3.
• (1330 GMT/1900 IST) Canada Manufacturing PMI, previous 54.6.
• (1400 GMT/1930 IST) U.S. JOLTS Job Openings, previous 11.25M, expected 10.99M.
Economic Events Ahead:
• No Key Events Scheduled for the day.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies
inched down 0.18 pct to 105.26 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
0.7030
R2 S2
0.7055
R3 S3
0.7076
R4
Commentary
S4
0.7099
Buy Above 0.7030
0.7055
0.7004
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.6980
0.6955
0.7004
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: TheAussie spikes down sharply as RBAraised key cash rate by 50 bps to 1.85 pct. Today
pair made intraday high at $0.7032 and low at $0.6984 mark.Aday chart and H1 chart with triple EMA
suggest up trend for the time being. A sustained close above $0.7030 on H1 chart requires for the
upside rally.Alternatively, a consistent close below $0.6990 will check further supports.
0.6965
0.6940
0.6915
0.6880
AUGUST,
2022

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.0290
R2 S2
1.0315
R3 S3
1.0340
R4
Commentary
S4
1.0365
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-
Time Frame: H1
EUR/USD: The euro rises gradually against U.S. dollar and remains well supported above $1.0250
mark. Today the pair made intraday high at $1.0293 and low at $1.0252 mark. Today triple EMA on a
day chart is down and H1 chart suggests up trend for the time being. A consistent close above
$1.0290 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.0250 on
H1 chart will check further supports.
EUR / USD
1.0250
1.0212
1.0200
1.0178
Buy Above 1.0290
1.0315
1.0265
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.0250
1.0222
1.0274
– Take Profit
– Stop Loss
Trade Idea
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50
AUGUST,
2022

5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.2282
R2 S2
1.2305
R3 S3
1.2332
R4
Commentary
S4
1.2357
Buy Above 1.2280
1.2330
1.2254
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2238
1.2204
1.2272
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The sterling starts a new day on a positive note and jumps back above $1.2250 mark.
Today pair made intraday high at $1.2279 and low at $1.2244 mark.Aday chart is down and H1 chart
with triple EMA suggests up trend for the time being. A sustained close above $1.2282 on H1 chart
will check key resistances. Alternatively, a consistent close below $1.2240 will check further
supports.
USD
1.2240
1.2221
1.2201
1.2178
GBP/
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50
AUGUST,
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
1.2865
R2 S2
1.2899
R3 S3
1.2922
R4
Commentary
S4
1.2950
Buy Above 1.2865
1.2899
1.2840
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2832
1.2805
1.2860
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The CAD depreciates on Tuesday ahead of Canada’s Manufacturing PMI data and
remains well supported around 1.2850 mark. Today the pair made intraday high at 1.2863 and low at
1.2835 mark. Today a day chart is down and H1 chart with triple EMA suggests up trend for the time
being. A sustained close above 1.2865 on H1 chart requires for the upside rally. Alternatively, a
consistent close below 1.2838 on H1 chart will check key supports too.
USD /CAD
1.2838
1.2804
1.2780
1.2750
AUGUST,
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
131.30
R2 S2
131.55
R3 S3
131.72
R4
Commentary
S4
131.99
Buy Above 131.30
131.61
130.90
– Take Profit
– Stop Loss
Trade Idea
Sell Below 130.51
130.00
130.89
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY: The Japanese yen strengthens sharply on Tuesday and touches 130.39 mark in early
Asian hours. The pair made intraday high at 131.72 and low at 130.39 mark. The triple EMA on a day
chart and H1 chart suggest down trend for the time being.Asustained close above 131.30 on H1 chart
requires for the upside rally. Alternatively, a consistent close below 130.50 on H1 chart will check
further key supports.
USD /JPY
130.50
130.21
130.01
129.76
AUGUST,
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
1782
R2 S2
1789
R3 S3
1794
R4
Commentary
S4
1799
Buy Above 1778
1785
1771
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1765
1757
1771
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold touches $1,780 mark in opening hours but failed to sustain above that level.
Today the pair made intraday high at $1,780 and low at $1,770 mark. Today a day chart is down and
H1 chart with triple EMAsuggests bullish trend for the time being. Asustained close above $1,782 on
H1 chart requires for the upside rally. Alternatively, a consistent close below $1,765 on H1 chart will
test further supports. U.S. JOLTS Job Opening Data will remain in focus.
XAU [GOLD]
USD
/
1765
1758
1752
1747
AUGUST,
2022

9. Thank
you!
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