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13 July 2022
Daily Analysis Report
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Asian Bulle n: U.S. dollar moves in s ff boundaries against major peers ahead of U.S. Infla on results, Asian stock markets in green, gold hovers around $1,725 mark
Key Headlines:
• New Zealand FPI stands at 1.2 pct vs 0.7 pct previous release.
• New Zealand Official Cash Rate stands at 2.5 pct vs 2.00 pct previous release.
• Asian stocks gained on Wednesday, taking back some of their recent losses, while the euro hovered just above parity against the dollar ahead of a highly an cipated U.S. infla on
report later in the global day – Reuters.
• U.S. stock index futures fell on Tuesday as investors fre ed about the health of the global economy as central banks around the world move aggressively to tamp down infla on –
Reuters.
• The euro bounced from near-parity versus the dollar on Tuesday and pushed into posi ve territory in vola le London trading – Reuters.
• U.S. small-business confidence dropped to the lowest level in nearly 9-1/2 years in June amid concerns about infla on, but demand for labor remained solid as businesses con nued
to grow their opera ons, a survey showed on Tuesday – Reuters.
• Drugmaker SIGA Technologies said on Tuesday it has received new orders worth about $28 million for its oral an viral drug, as monkeypox cases spread globally – Reuters.
• The World Health Organiza on said on Tuesday that COVID-19 remains a global emergency, nearly 2-1/2 years a er it was first declared – Reuters.
• Sri Lankan President Gotabaya Rajapaksa fled the country for the Maldives on Wednesday, hours before he was due to step down amid widespread protests over his handling of a
devasta ng economic crisis – Reuters.
• South Korea's central bank on Wednesday delivered an unprecedented half-point interest rate hike aimed at pulling infla on back from 24-year highs, but floundering business
ac vity is fast raising fear of a sharp economic downturn – Reuters.
• The Interna onal Monetary Fund on Tuesday warned that avoiding recession in the United States will be "increasingly challenging" as it again cut its 2022 U.S. growth forecast to
2.3% from 2.9% in late June as recent data showed weakening consumer spending – Reuters.
• Pacific island leaders welcomed a pledge by the United States to triple aid to the region to combat illegal fishing, enhance mari me security and tackle climate change, a er decades
of stagnant U.S. funding – Reuters.
• Daily COVID-19 infec ons in South Korea have jumped above 40,000 for the first me in two months, with the government warning of a poten al five-fold surge in the coming
months – Reuters.
• China reported 338 new COVID-19 infec ons on July 12, of which 98 were symptoma c and 240 were asymptoma c, the Na onal Health Commission said on Wednesday – Reuters.
• Mexico on Tuesday pledged to spend $1.5 billion in beefing up its borders as its leader met with U.S. President Joe Biden, who faces a acks from Republicans over his handling of
immigra on on the United States' southern flank – Reuters.
• Ukraine launched long-range rocket a acks on Russian forces in southern Ukraine and destroyed an ammuni on store, its military said, as Russia con nued to pound the country's
east – Reuters.
Key Economic Indicators Ahead
• (0600 GMT/1130 IST) U.K. GDP m/m, previous -0.3, expected 0.1.
• (0600 GMT/1130 IST) U.K. Construc on Output, previous -0.4, expected 0.2.
• (0600 GMT/1130 IST) U.K. Goods Trade Balance, previous -20.9B, expected -19.8B.
• (0600 GMT/1130 IST) U.K. Industrial Produc on, previous -0.6, expected 0.00.
• (0600 GMT/1130 IST) U.K. Manufacturing Produc on, previous -1.0, expected 0.00.
• (0645 GMT/1215 IST) France Final CPI, previous 0.7, expected 0.7.
• (0900 GMT/1430 IST) Euro Industrial Produc on, previous 0.4, expected 0.2.
• (1230 GMT/1800 IST) U.S. CPI, previous 1.0, expected 1.1.
• (1230 GMT/1800 IST) U.S. Core CPI, previous 0.6, expected 0.5.
• (1400 GMT/1930 IST) Canada Interest Rate Decision, previous 1.50, expected 2.25.
Economic Events Ahead:
• (1500 GMT/2030 IST) Canada BoC Press Conference.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.06 pct to 108.13 points.
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
0.6786
R2 S2
0.6802
R3 S3
0.6826
R4
Commentary
S4
0.6851
Buy Above 0.6785
0.6815
0.6755
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.6750
0.6727
0.6776
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie recovers from previous losses and currently stabilizes above $0.6750 mark.
Today pair made intraday high at $0.6778 and low at $0.6741 mark. A day chart and H1 chart with
triple EMA suggest down trend for the time being. A sustained close above $0.6786 on H1 chart
requires for the upside rally. Alternatively, a consistent close below $0.6740 will check further
supports.
0.6740
0.6712
0.6684
0.6665
JULY,
2022
BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.0050
R2 S2
1.0072
R3 S3
1.0097
R4
Commentary
S4
1.0122
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-
Time Frame: H1
EUR/USD: The euro moves in rigid boundaries on Wednesday ahead of Euro Zone’s Industrial
Production data and hovers around $1.0030 mark. Today the pair made intraday high at $1.0047 and
low at $1.0022 mark. Today triple EMAon a day chart and H1 chart suggest bearish trend for the time
being. A consistent close above $1.0050 on H1 chart requires for the upside rally. Alternatively, a
sustained close below $0.9990 on H1 chart will check further supports.
EUR / USD
0.9990
0.9965
0.9947
0.9920
Buy Above 1.0050
1.0098
1.0010
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.9990
0.9947
1.0032
– Take Profit
– Stop Loss
Trade Idea
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
JULY,
2022
BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.1926
R2 S2
1.1954
R3 S3
1.1978
R4
Commentary
S4
1.2004
Buy Above 1.1930
1.1965
1.1902
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.1870
1.1840
1.1902
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The sterling starts a new day on a flat note ahead of U.K.’s GDP data and hovers around
$1.1900 mark. Today pair made intraday high at $1.1918 and low at $1.1869 mark. A day chart and
H1 chart with triple EMA suggest down trend for the time being. A sustained close above $1.1926 on
H1 chart will check key resistances.Alternatively, a consistent close below $1.1872 will check further
supports.
USD
1.1872
1.1850
1.1821
1.1802
GBP/
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50
JULY,
2022
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
1.3040
R2 S2
1.3055
R3 S3
1.3072
R4
Commentary
S4
1.3099
Buy Above 1.3037
1.3070
1.3001
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.3001
1.2972
1.3022
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The CAD remains slightly volatile in early Asia ahead of Bank of Canada’s Interest Rate
Decision and remains well supported above 1.3000 mark. Today the pair made intraday high at
1.3034 and low at 1.3000 mark. Today a day chart and H1 chart with triple EMA suggest bullish trend
for the time being. A sustained close above 1.3040 on H1 chart requires for the upside rally.
Alternatively, a consistent close below 1.3000 on H1 chart will check key supports too.
USD /CAD
1.3000
1.2982
1.2965
1.2951
JULY,
2022
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
137.30
R2 S2
137.62
R3 S3
137.76
R4
Commentary
S4
138.02
Buy Above 137.30
137.62
137.05
– Take Profit
– Stop Loss
Trade Idea
Sell Below 136.90
136.55
137.20
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY: The Japanese yen enjoys roller coaster movement and remains well supported above
137.00 mark. The pair made intraday high at 137.25 and low at 136.69 mark. The triple EMAon a day
chart and H1 chart suggest up trend for the time being. A sustained close above 137.62 on H1 chart
requires for the upside rally. Alternatively, a consistent close below 136.72 on H1 chart will check
further key supports.
USD /JPY
136.72
136.40
136.12
135.89
JULY,
2022
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
1730
R2 S2
1737
R3 S3
1742
R4
Commentary
S4
1748
Buy Above 1730
1737
1724
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1721
1712
1728
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold continues to trade in stiff boundaries ahead of U.S. CPI data and faces key
hurdle at $1,720 mark. Today the pair made intraday high at $1,727 and low at $1,724 mark. A day
chart and H1 chart with triple EMA suggest bearish trend for the time being. A sustained close above
$1,730 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,720 on H1
chart will test further supports. U.S. Economic Calendar will remain empty for the day.
XAU [GOLD]
USD
/
1721
1715
1708
1702
JULY,
2022
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you!
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