DAILY ANALYSIS REPORT JULY 08 2022

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08 July 2022
Daily Analysis Report

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Asian Bulle n: U.S. dollar trades in narrow range against major peers ahead of U.S. NFP job Results, Asian stock markets in green, gold consolidates around $1,740 mark
Key Headlines:
• Japan household spending stands at -0.5 pct vs -1.7 pct previous release.
• Japan Bank Lending stands at 1.3 pct vs 0.7 pct previous release.
• Japan Current account stands at 0.01T vs 0.51T previous release.
• Former Japanese Prime Minister Shinzo Abe collapses during speech, possible gunfire heard – NHK – Breaking News.
• Fed's Bullard - Central Bank Must Ra fy Market Rate-Rise Expecta ons.
• Fed's Bullard - Expecta ons of Tighter Monetary Policy Already Affec ng Economy.
• Fed's Bullard - U.S. Job Market Remains Robust.
• Fed’s Bullard - He Expects Con nued Expansion This Year.
• Fed’s Bullard - May see s ll-higher infla on expecta ons.
• U.S. stock index futures edged higher on Thursday as investors assessed the outlook for monetary policy amid growing concerns about an economic downturn caused by aggressive
rate hikes to tackle infla on – Reuters.
• Brazil's real is expected to firm over the next 12 months but will come under growing pressure from planned extra social spending against a complex economic backdrop in the run-
up to October's presiden al vote, a Reuters poll showed – Reuters.
• The Canadian dollar will gain less ground than previously thought over the coming year as the growing risk of a global economic slowdown bolsters demand for safe-haven
currencies such as the U.S. dollar – Reuters.
• Fixed income managers expect U.S. infla on to stay above the Federal Reserve's 2% target for longer, with two-thirds of investors surveyed by Russell Investments expec ng core
infla on between 3% and 4.5% over the next 12 months – Reuters.
• Valua ons of Asian equi es dropped for a third straight month in June and hit their lowest since the start of the pandemic, as regional equity markets plunged on concerns over a
global recession and aggressive rate hikes by major central banks – Reuters.
• The U.S. Transporta on Department on Thursday awarded $968.6 million to 85 airport projects to address the country's aging and o en mocked avia on infrastructure – Reuters.
• Italy's liabili es towards other euro zone central banks jumped to a new record high in June, central bank data showed on Thursday – Reuters.
• The Bank of Japan is expected to raise its infla on forecast but maintain ultra-low interest rates at this month's policy mee ng, sources say, as fears of a U.S. recession and rising
input costs cloud the outlook for its fragile economic recovery – Reuters.
• Hungary's central bank raised its one-week deposit rate by a whopping 200 bps to 9.75% on Thursday and the government pledged to rein in the budget deficit in a bid to shore up
the forint a er it plunged to record lows this week – Reuters.
• The Central Bank of Sri Lanka (CBSL) raised its key rates by a full percentage point on Thursday to tackle record high domes c infla on and to contain any build-up of underlying
demand – Reuters.
• Britain is likely to see li le or no economic growth in the next year or so as surging infla on erodes households' spending power, Bank of England chief economist Huw Pill said on
Wednesday – Reuters.
• Sweden is seeing an increase in COVID-19 cases and healthcare can expect an increase in pressure over the summer, the health minister said on Thursday – Reuters.
• The European Medicines Agency (EMA) is open to using next genera on COVID-19 vaccines that target older offshoots of the Omicron variant this fall, an official said on Thursday,
amid a rise in cases due to new Omicron subvariants – Reuters.
• Two people in Ghana who later died tested posi ve for Marburg virus, a highly infec ous disease similar to Ebola, the World Health Organiza on (WHO) said on Thursday – Reuters.
Key Economic Indicators Ahead
• (0645 GMT/1215 IST) France Trade Balance, previous -12.2B, expected -12.7B.
• (0800 GMT/1330 IST) Italy Industrial Produc ons, previous 1.6, expected -1.4.
• (1230 GMT/1800 IST) Canada Employment Change, previous 39.8K, expected 20.0K.
• (1230 GMT/1800 IST) Canada Unemployment Rate, previous 5.1, expected 5.1.
• (1230 GMT/1800 IST) U.S. Average Hourly earnings, previous 0.3, expected 0.3.
• (1230 GMT/1800 IST) U.S. Non Farm Employment Change, previous 390K, expected 260K.
• (1230 GMT/1800 IST) U.S. Unemployment Rate, previous 3.6, expected 3.6.
Economic Events Ahead:
• Tenta ve – EU Economic Forecasts.
• (1155 GMT/1725 IST) ECB President Lagarde Speaks.
• (1500 GMT/2030 IST) FOMC Member Williams Speaks.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.08 pct to 107.09 points.

3. AUD / USD
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
0.6860
R2 S2
0.6874
R3 S3
0.6899
R4
Commentary
S4
0.6924
Buy Above 0.6850
0.6878
0.6821
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.6802
0.6776
0.6830
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie trades slightly lower on Friday as Australia’s economic calendar will remain
empty for the day. Today pair made intraday high at $0.6861 and low at $0.6822 mark. A day chart is
down and H1 chart with triple EMA suggests up trend for the time being. A sustained close above
$0.6860 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.6812 will
check further supports.
0.6812
0.6782
0.6750
0.6720
JULY,
2022

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.0190
R2 S2
1.0224
R3 S3
1.0250
R4
Commentary
S4
1.0272
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-
Time Frame: H1
EUR/USD: The euro continues to trade lower ahead of EU’s Economic Forecasts and ECB President
Lagarde’s speech. She is due to speak at the Economic Meetings of Aix-en-Provence, in France.
Today the pair made intraday high at $1.0191 and low at $1.0153 mark. Today triple EMA on a day
chart and H1 chart suggest bearish trend for the time being. A consistent close above $1.0190 on H1
chart requires for the upside rally. Alternatively, a sustained close below $1.0130 on H1 chart will
check further supports.
EUR / USD
1.0130
1.0112
1.0091
1.0062
Buy Above 1.0172
1.0201
1.0142
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.0127
1.0090
1.0160
– Take Profit
– Stop Loss
Trade Idea
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
JULY,
2022

5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.2050
R2 S2
1.2076
R3 S3
1.2099
R4
Commentary
S4
1.2126
Buy Above 1.2030
1.2062
1.2002
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.1990
1.1955
1.2020
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The sterling reverses previous gain against U.S. dollar and hovers around $1.2000 mark.
Today pair made intraday high at $1.2056 and low at $1.1996 mark.Aday chart is down and H1 chart
with triple EMA suggests up trend for the time being. A sustained close above $1.2050 on H1 chart
will check key resistances. Alternatively, a consistent close below $1.1990 will check further
supports.
USD
1.1990
1.1965
1.1932
1.1908
GBP/
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
JULY,
2022

6. BUY SELL
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Technical Summary
Trends Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26 Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1.3022
R2 S2
1.3055
R3 S3
1.3072
R4
Commentary
S4
1.3090
Buy Above 1.3030
1.3058
1.3008
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2990
1.2960
1.3015
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/CAD: The CAD starts a new day on a lower note and jumps back above 1.3000 mark ahead of
Canada’s Employment Change data. Today the pair made intraday high at 1.3017 and low at 1.2953
mark. Today a day chart is up and H1 chart with triple EMA suggests down trend for the time being. A
sustained close above 1.3022 on H1 chart requires for the upside rally. Alternatively, a consistent
close below 1.2974 on H1 chart will check key supports too.
USD /CAD
1.2974
1.2950
1.2921
1.2901
JULY,
2022

7. 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
136.04
R2 S2
136.30
R3 S3
136.62
R4
Commentary
S4
136.90
Buy Above 135.90
136.30
135.65
– Take Profit
– Stop Loss
Trade Idea
Sell Below 135.30
135.02
135.55
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY: The Japanese yen remains volatile inAsian hours after the news of Former PM ShinzoAbe
was shot in chest and carried to the hospital. The pair made intraday high at 136.14 and low at 135.32
mark. The triple EMA on a day chart and H1 chart suggest up trend for the time being. A sustained
close above 136.04 on H1 chart requires for the upside rally. Alternatively, a consistent close below
135.30 on H1 chart will check further key supports.
USD /JPY
135.30
135.02
134.80
134.52
JULY,
2022

8. 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
1748
R2 S2
1752
R3 S3
1758
R4
Commentary
S4
1764
Buy Above 1748
1755
1742
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1736
1728
1742
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold moves in narrow range and consolidates round $1,740 mark ahead of U.S.
NFP job data. Yesterday’sADP job data had not published due to rescheduled and U.S. trade balance
data failed to bring volatility to the FX markets. Today the pair made intraday high at $1,746 and low at
$1,738 mark. A day chart and H1 chart with triple EMA suggest bearish trend for the time being. A
sustained close above $1,748 on H1 chart requires for the upside rally. Alternatively, a consistent
close below $1,736 on H1 chart will test further supports.
XAU [GOLD]
USD
/
1736
1730
1721
1715
JULY,
2022

9. Thank
you!
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