DAILY ANALYSIS REPORT MAY 05 2022

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05 May 2022
Daily Analysis Report

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Asian Bulle n: U.S. dollar depreciated sharply against major peers a er FOMC mee ng, Asian stock markets in green, gold hovers around $1,900 mark
Key Headlines:
• Japanese banks will be closed in observance of Children's Day.
• Australia building approvals stands at -18.5 pct vs 42.0 pct previous release.
• Australia Trade Balance stands at 9.31B vs 7.44B previous release.
• China Caixin Services PMI stands at 36.2 vs 42.0 previous release.
• FOMC - Fed raises funds rate by 50 bps to 0.75%-1% target range.
• FOMC - On June 1st, the Federal Reserve will begin shrinking its balance sheet.
• FOMC - Runoff pace to rise to maximum $95b/mth a er three months.
• FOMC - Fed expects `ongoing’ increases in rates will be appropriate.
• FOMC - It is `highly a en ve' to infla on risks.
• U.S. President Joe Biden's administra on was looking at grants to help fund expanding access to emergency contracep on as a possible response if the Supreme Court overturns a
1973 decision that legalized abor on na onwide, White House spokesperson Jen Psaki said on Wednesday – Reuters.
• The Americas reported more than 616,000 new cases last week, while the death toll was down by less than 1% in the same comparison to 4,200, the organiza on said – Reuters.
• The Bri sh government said it would not appeal a court decision that it had acted unlawfully early in the COVID-19 pandemic when it moved elderly pa ents from hospitals to care
homes without considering that people without symptoms could spread the virus – Reuters.
• French drugmaker Valneva said on Wednesday it will conduct a trial about the use of its COVID-19 vaccine candidate VLA2001 as a booster jab following a mRNA vaccina on or
natural infec on – Reuters.
• The U.S. Treasury Department said on Wednesday it would con nue reducing its coupon issuance across all maturi es in the coming quarter, with the largest cuts coming in the
seven-year and 20-year maturi es – Reuters.
• China's central bank on Wednesday pledged monetary policy support to ensure ample liquidity, help businesses badly hit by the latest COVID-19 outbreak in the country and support
a recovery in consump on – Reuters.
• A jump in U.S. real yields back into posi ve territory is a sign that a hawkish Federal Reserve is succeeding in ghtening some financial condi ons, but the jury is s ll out on how
much of an impact higher rates will have on infla on – Reuters.
• Russia's central bank provided banks with all 550 billion roubles ($7.99 billion) on offer at a one-week repo auc on on Wednesday, facing demand of 1.3 trillion roubles, in a move to
help lending ins tu ons manage their liquidity – Reuters.
• Uzbekistan will allow companies to mine cryptocurrencies using solar energy and will exempt all crypto opera ons by domes c and foreign companies from income tax, according to
a presiden al decree published this week – Reuters.
Key Economic Indicators Ahead:
• (0600 GMT/1130 IST) German Factory Orders, previous -2.2, expected -1.0.
• (0630 GMT/1200 IST) Swiss CPI, previous 0.6, expected 0.3.
• (0645 GMT/1215 IST) France industrial Produc on, previous -0.9, expected -0.2.
• (0830 GMT/1400 IST) U.K. Services PMI, previous 58.3, expected 58.3.
• (1100 GMT/1630 IST) U.K. Official Bank Rate Decision, previous 0.75, expected 1.00.
• (1230 GMT/1800 IST) U.S. unemployment claims weekly, previous 180K, expected 180K.
• (1230 GMT/1800 IST) U.S. Prelim Nonfarm Produc vity, previous 6.6, expected -5.1.
• (1230 GMT/1800 IST) U.S. Prelim Labor costs, previous 0.9, expected 10.1.
Economic Events Ahead:
• All Day – OPEC – JMMC Mee ngs.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.04% to 102.55 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
0.7272
R2 S2
0.7299
R3 S3
0.7326
R4
Commentary
S4
0.7350
Buy Above 0.7272
0.7299
0.7240
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.7221
0.7190
0.7255
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie rose sharply in previous session and touches $0.7265 mark in early Asia.
Today pair made intraday high at $0.7266 and low at $0.7236 mark.Aday chart is down and H1 chart
with triple EMA suggests up trend for the time being. A sustained close above $0.7260 on H1 chart
requires for the upside rally. Alternatively, a consistent close below $0.7230 will check further
supports.
0.7230
0.7201
0.7180
0.7155
MAY,
2022

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.0630
R2 S2
1.0655
R3 S3
1.0672
R4
Commentary
S4
1.0705
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-
Time Frame: H1
EUR/USD: The euro trades almost flat on Thursday after remained highly volatile in previous session.
The pair made intraday high at $1.0641 and low at $1.0603 mark. Today triple EMA on a day chart is
down and H1 chart suggests up trend for the time being. A consistent close above $1.0630 on H1
chart requires for the upside rally. Alternatively, a sustained close below $1.0580 on H1 chart will
check further supports.
EUR / USD
1.0580
1.0555
1.0512
1.0501
Buy Above 1.0650
1.0680
1.0620
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.0589
1.0552
1.0620
– Take Profit
– Stop Loss
Trade Idea
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50
MAY,
2022

5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.2630
R2 S2
1.2655
R3 S3
1.2678
R4
Commentary
S4
1.2712
Buy Above 1.2612
1.2654
1.2572
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2550
1.2497
1.2581
– 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 lower note ahead of BOE’s Interest Rate Decision and
hovers around $1.2570 mark. Today pair made intraday high at $1.2634 and low at $1.2565 mark. A
day chart is down and H1 chart with triple EMA suggests up trend for the time being. A sustained
close above $1.2630 on H1 chart will check key resistances. Alternatively, a consistent close below
$1.2550 will check further supports.
USD
1.2550
1.2521
1.2500
1.2480
GBP/
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50
MAY,
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
1.2750
R2 S2
12772
R3 S3
1.2801
R4
Commentary
S4
1.2826
Buy Above 1.2750
1.2782
1.2718
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2690
1.2658
1.2721
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The CAD strengthens sharply after FOMC meeting and hits highest level since April 26,
2022 mark. Today the pair made intraday high at 1.2748 and low at 1.2713 mark. Today a day chart is
up and H1 chart with triple EMA suggests down trend for the time being. A sustained close above
1.2750 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2687 on H1
chart will check key supports too.
USD /CAD
1.2687
1.2650
1.2622
1.2601
MAY,
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
129.52
R2 S2
129.76
R3 S3
130.04
R4
Commentary
S4
130.30
Buy Above 129.55
129.85
129.20
– Take Profit
– Stop Loss
Trade Idea
Sell Below 128.80
128.40
129.15
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY: The Japanese yen appreciated sharply after FOMC meet and currently hovers around
129.00 mark. The pair made intraday high at 129.54 and low at 128.74 mark. The triple EMAon a day
chart is up and H1 chart suggests bearish trend for the time being.Asustained close above 129.52 on
H1 chart requires for the upside rally. Alternatively, a consistent close below 128.72 on H1 chart will
check further key supports.
USD /JPY
129.72
129.44
129.18
128.89
MAY,
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
1904
R2 S2
1909
R3 S3
1914
R4
Commentary
S4
1920
Buy Above 1904
1910
1896
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1892
1886
1899
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold rose sharply after FOMC meeting and touched $1,903 mark in Asian hours.
Today pair made intraday high at $1,903 and low at $1,881 mark. A day chart is down and H1 chart
with triple EMA suggests up trend for the time being. A sustained close above $1,904 on H1 chart
requires for the upside rally.Alternatively, a consistent close below $1,892 on H1 chart will test further
supports.
XAU [GOLD]
USD
/
1892
1886
1881
1876
MAY,
2022

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