Daily Analysis Report from TP Global FX highlights key Asian markets

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analysis@tpglobalfx.com
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04 March 2022
Daily Analysis Report

+1 7754 366 970
Asian Bulle n: U.S. dollar moves in rigid boundaries ahead of U.S. NFP job data, Asian stock markets in red, gold hovers around $1,940 mark
Key Headlines:
• Japan unemployment rate stands at 2.8 pct vs 2.7 pct previous release.
• Australia Retail Sales remain unchanged at 1.8 pct.
• U.S. life sciences company Illumina's offer to cut prices and allow rivals con nued access to its technologies has "yet to convince" EU an trust regulators scru nising its $8 billion
cash-and-stock bid for Grail Inc , people familiar with the ma er said – Reuters.
• Medics will vaccinate about 2.9 million young children against polio in Malawi, the United Na ons said on Thursday, a er a three-year-old girl fell sick in the capital with Africa's first
case of wild poliovirus in more than five years – Reuters.
• Austrian Health Minister Wolfgang Mueckstein resigned on Thursday, the second top official to step down within a year under the strain of tackling the coronavirus pandemic –
Reuters.
• The European Medicines Agency's leading vaccine expert said he was not concerned over recent data from New York state on a decline of protec on from the Pfizer and BioNTech SE
COVID-19 vaccine in children aged 5 to 11 – Reuters.
• Wall Street ended lower on Thursday, with growth stocks including Tesla and Amazon den ng the Nasdaq, as the Ukraine crisis kept investors on edge – Reuters.
• The current rally of U.S. grain and oilseed prices could help bolster American farm incomes this year, as Russia's invasion of Ukraine roils commodity markets over fears of massive
disrup on of exports from the Black Sea region, an economist for the Federal Reserve Bank of Chicago said Thursday – Reuters.
• Plant spokesman says Russian troops have begun shelling Europe's largest nuclear power sta on in Ukraine – Sources.
Economic Data Ahead:
• (0700 GMT/1230 IST) German Trade Balance, previous 6.8B, expected 7.5B.
• (0745 GMT/1315 IST) France Industrial Produc on, previous -0.2, expected 0.5.
• (0930 GMT/1500 IST) U.K. Construc on PMI, previous 56.3, expected 57.4.
• (1000 GMT/1530 IST) Euro Retail Sales, previous -3.0, expected 1.5.
• (1330 GMT/1900 IST) U.S. NFP Employment Change, previous 467K, expected 407K.
• (1330 GMT/1900 IST) U.S. Unemployment Rate, previous 4.0, expected 3.9.
• (1500 GMT/2030 IST) Canada Ivey PMI, previous 50.7, expected 54.2.
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 up 0.17% to 97.95 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
0.7350
R2 S2
0.7376
R3 S3
0.7399
R4
Commentary
S4
0.7422
Buy Above 0.7350
0.7380
0.7322
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.7315
0.7280
0.7340
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
-
Time Frame: H1
AUD/USD: The Aussie rises sharply against U.S. dollar and remains well supported above $0.7300
mark. Today pair made intraday high at $0.7341 and low at $0.7300 mark. A day chart and H1 chart
with triple EMAsuggest bullish trend for the time being.Asustained close above $0.7350 on H1 chart
requires for the upside rally. Alternatively, a consistent close below $0.7302 will check further
supports.
0.7302
0.7278
0.7250
0.7221
MARCH,
2022

BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.1065
R2 S2
1.1090
R3 S3
1.1122
R4
Commentary
S4
1.1150
+1 7754 366 970
-
Time Frame: H1
EUR/USD: The euro weakens drastically against U.S. dollar and hits lowest level since May 2020.
The pair made intraday high at $1.1067 and low at $1.1009 mark. Today triple EMAon a day chart and
H1 chart suggest bearish trend for the time being. A consistent close above $1.1065 on H1 chart
requires for the upside rally. Alternatively, a sustained close below $1.1012 on H1 chart will check
further supports.
EUR / USD
1.1001
1.0980
1.0950
1.0922
Buy Above 1.1070
1.1105
1.1040
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.1005
1.0968
1.1032
– Take Profit
– Stop Loss
Trade Idea
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
MARCH,
2022

BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.3351
R2 S2
1.3376
R3 S3
1.3399
R4
Commentary
S4
1.3422
Buy Above 1.3360
1.3398
1.3332
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.3312
1.3282
1.3340
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
-
Time Frame: H1
GBP/USD: The sterling exhibits range bound movement and hovers around $1.3350 mark. Today
pair made intraday high at $1.3353 and low at $1.3315 mark.Aday chart and H1 chart with triple EMA
suggests down trend for the time being. A sustained close above $1.3351 on H1 chart will check key
resistances.Alternatively, a consistent close below $1.3312 will check further supports.
USD
1.3312
1.3282
1.3260
1.3237
GBP/
Trends Down Trend
MARCH,
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
1.2722
R2 S2
1.2750
R3 S3
1.2772
R4
Commentary
S4
1.2799
Buy Above 1.2722
1.2755
1.2690
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2670
1.2632
1.2699
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
-
Time Frame: H1
USD/CAD: The CAD erases previous gain against U.S. dollar and touches 1.2722 mark in earlyAsia.
Pair made intraday high at 1.2722 and low at 1.2669 mark. Today a day chart and H1 chart with triple
EMAsuggest up trend for the time being.Asustained close above 1.2722 on H1 chart requires for the
upside rally. Alternatively, a consistent close below 1.2670 on H1 chart will check key supports too.
Canada’s Ivey PMI data is in focus.
USD /CAD
1.2670
1.2650
1.2615
1.2600
MARCH,
2022

BUY SELL
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Technical Summary
Trend Down Trend
H 1
FIBO Levels PIVOT
R1 S1
115.50
R2 S2
115.75
R3 S3
115.90
R4
Commentary
S4
116.22
Buy Above 115.55
115.78
115.30
– Take Profit
– Stop Loss
Trade Idea
Sell Below 115.12
114.80
115.40
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
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Time Frame: H1
USD/JPY: The Japanese yen trades marginally higher on Friday and hovers around 115.30 mark.
The pair made intraday high at 115.55 and low at 115.25 mark. The triple EMA on a day chart and H1
chart suggest up trend for the time being.Asustained close above 115.50 on H1 chart requires for the
upside rally.Alternatively, a consistent close below 115.12 on H1 chart will check further key supports.
USD /JPY
115.12
114.90
114.65
114.30
MARCH,
2022

BUY SELL
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Technical Summary
Trend Down Trend
H 1
FIBO Levels PIVOT
R1 S1
1954
R2 S2
1960
R3 S3
1967
R4
Commentary
S4
1975
Buy Above 1944
1951
1938
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1936
1928
1942
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
-
Time Frame: H1
XAU/USD (GOLD): Gold remains highly volatile in opening hours and currently hovers around $1,940
mark. Today pair made intraday high at $1,951 and low at $1,929 mark. A triple EMA on a day chart
and H1 chart suggest up trend for the time being. A sustained close above $1,948 on H1 chart
requires for the upside rally.Alternatively, a consistent close below $1,931 will check further supports.
Traders eye U.S. NFPjob data.
XAU [GOLD]
USD
/
1931
1926
1918
1911
MARCH,
2022

Thank
you!
Info@tpglobalfx.com
www.tpglobalfx.com
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