DAILY ANALYSIS REPORT AUGUST 23 2022

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23 August 2022
Daily Analysis Report

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analysis@tpglobalfx.com
Asian Bulle n: DXY hits fresh 6 – week high at 109.13 mark, Asian stock markets in red, gold stabilizes below $1,740 mark
Key Headlines:
• Australia Flash Manufacturing PMI stands at 54.5 vs 55.7 previous release.
• Australia Flash Services PMI stands at 49.6 vs 50.9 previous release.
• Japan Flash Manufacturing PMI stands at 51.0 vs 52.1 previous release.
• Wall Street ended sharply lower on Monday as investors fre ed about a U.S. Federal Reserve gathering later this week in Jackson Hole, Wyoming, that is expected to reinforce a
strong commitment by the central bank to stamp out infla on – Reuters.
• Oil prices bounced off session lows to trade nearly flat in a vola le session on Monday as markets weighed Saudi Arabia's warning that OPEC+ produc on could cut output against
the possibility of a nuclear deal that could return sanc oned Iranian oil to the market – Reuters.
• Wall Street futures fell on Monday, se ng all three major U.S. stock indexes for a dour start to the week, as investors worried about hawkish signals from Federal Reserve
policymakers in the face of slowing economic growth – Reuters.
• Ukraine's agricultural exports are likely to rise to about 4 million tonnes in August, from 3 million tonnes in July, thanks to the U.N.-brokered deal that unblocked Ukrainian sea ports,
a deputy chair of the Ukrainian Agrarian Council said on Monday – Reuters.
• The small factories in the western Japanese city of Higashiosaka for decades fuelled the thundering rise of the country's biggest brands - but a weak yen and rising costs have
accelerated a slow decline, and are reshaping the industrial heartland – Reuters.
• Broker Marsh, a unit of Marsh & McLennan , said on Monday it was launching the world's first dedicated insurance for hydrogen energy projects, as the nascent industry looks to
scale up quickly in the fight against climate change – Reuters.
• The Indian rupee was trading lower versus the dollar on Monday as China's yuan led a broader decline in Asian currencies on concerns over the Federal Reserve's rate hike path –
Reuters.
• Spanish health authori es on Monday approved a new monkeypox vaccina on strategy, allowing more people to get vaccinated with smaller doses amid scarce supplies, the health
ministry said in a statement – Reuters.
• The U.S. Centers for Disease Control and Preven on (CDC) on Monday signed off on the use of Novavax Inc's COVID-19 vaccine for adolescents aged 12 through 17 – Reuters.
• Japan is considering ending its pre-arrival COVID-19 tes ng for inbound travellers who are already vaccinated, Nikkei reported late on Monday – Reuters.
• Mexico will file a complaint over the failure to deliver the country vaccines against COVID-19 that were purchased under a U.N.-backed scheme, President Andres Manuel Lopez
Obrador said on Monday – Reuters.
• Pfizer Inc and German partner BioNTech said on Monday they had sought U.S. authoriza on for a COVID-19 vaccine booster retooled to target the Omicron variant, and would have
doses available to ship immediately a er regulatory clearance – Reuters.
• Moderna Inc will supply 12 million doses of its COVID-19 shot adapted to target the Omicron variant of the coronavirus to Canada, the company said on Monday – Reuters.
Key Economic Indicators Ahead:
• (0715 GMT/1245 IST) France Flash Services PMI, previous 53.2, expected 52.9.
• (0715 GMT/1245 IST) France Flash Manufacturing PMI, previous 49.5, expected 49.0.
• (0730 GMT/1300 IST) German Flash Services PMI, previous 49.7, expected 49.0.
• (0730 GMT/1300 IST) German Flash Manufacturing PMI, previous 49.3, expected 48.0.
• (0800 GMT/1330 IST) Euro Flash Services PMI, previous 51.2, expected 50.5.
• (0800 GMT/1330 IST) Euro Flash Manufacturing PMI, previous 49.8, expected 48.9.
• (0830 GMT/1400 IST) U.K. Flash Services PMI, previous 52.6, expected 51.5.
• (0830 GMT/1400 IST) U.K. Flash Manufacturing PMI, previous 52.1, expected 51.0.
• (1000 GMT/1530 IST) U.K. CBI Industrial Order expecta ons, previous 8, expected 2.
• (1345 GMT/1915 IST) U.S. Flash Services PMI, previous 47.3, expected 49.8.
• (1345 GMT/1915 IST) U.S. Flash Manufacturing PMI, previous 52.2, expected 51.8.
• (1400 GMT/1930 IST) Euro Consumer Confidence, previous -27, expected -28.
• (1400 GMT/1930 IST) U.S. New Home Sales, previous 590K, expected 574K.
• (1400 GMT/1930 IST) U.S. Richmond Manufacturing Index, previous 0, expected -3.
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 0.14 pct to 108.90 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
0.6912
R2 S2
0.6930
R3 S3
0.6954
R4
Commentary
S4
0.6976
Buy Above 0.6915
0.6952
0.6881
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.6860
0.6830
0.6899
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie trades marginally higher on Tuesday as Australia came up the flash PMI data
as per expectations only. Today pair made intraday high at $0.6899 and low at $0.6872 mark. A day
chart and H1 chart with triple EMA suggest bearish trend for the time being. A sustained close above
$0.6912 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.6862 will
check further supports.
0.6862
0.6840
0.6812
0.6782
AUGUST,
2022

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
0.9972
R2 S2
0.9999
R3 S3
1.0022
R4
Commentary
S4
1.0052
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-
Time Frame: H1
EUR/USD: The euro weakened sharply in previous session and currently starts a new day on a flat
note at $0.9940 mark. Today the pair made intraday high at $0.9950 and low at $0.9930 mark. Today
triple EMA on a day chart and H1 chart suggest bearish trend for the time being. A consistent close
above $0.9972 on H1 chart requires for the upside rally. Alternatively, a sustained close below
$0.9927 on H1 chart will check further supports.
EUR / USD
0.9927
0.9898
0.9865
0.9842
Buy Above 0.9960
0.9996
0.9930
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.9921
0.9889
0.9952
– Take Profit
– Stop Loss
Trade Idea
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
AUGUST,
2022

5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.1790
R2 S2
1.1826
R3 S3
1.1854
R4
Commentary
S4
1.1878
Buy Above 1.1790
1.1830
1.1760
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.1752
1.1712
1.1782
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The sterling moves in rigid boundaries ahead of U.K.’s Flash PMI data scheduled at 0830
GMT. Today pair made intraday high at $1.1785 and low at $1.1756 mark. A day chart and H1 chart
with triple EMA suggest bearish trend for the time being. A sustained close above $1.1790 on H1
chart will check key resistances. Alternatively, a consistent close below $1.1749 will check further
supports.
USD
1.1749
1.1721
1.1702
1.1681
GBP/
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below 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
1.3062
R2 S2
1.3090
R3 S3
1.3118
R4
Commentary
S4
1.3140
Buy Above 1.3052
1.3090
1.3021
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.3010
1.2981
1.3040
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/CAD: The CAD recovers slightly from previous losses and stabilizes below 1.3050 mark. Today
the pair made intraday high at 1.3057 and low at 1.3024 mark. Today a day chart and H1 chart with
triple EMA suggest bullish trend for the time being. A sustained close above 1.3050 on H1 chart
requires for the upside rally. Alternatively, a consistent close below 1.3010 on H1 chart will check key
supports too.
USD /CAD
1.3010
1.2980
1.2950
1.2922
AUGUST,
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
137.72
R2 S2
137.98
R3 S3
138.22
R4
Commentary
S4
138.50
Buy Above 137.52
137.90
137.21
– Take Profit
– Stop Loss
Trade Idea
Sell Below 136.91
136.56
137.21
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/JPY: The Japanese yen remains almost unchanged as Japan released Flash PMI data with flat
numbers. The pair made intraday high at 137.70 and low at 137.08 mark. The triple EMA on a day
chart and H1 chart suggest bullish trend for the time being. A sustained close above 137.57 on H1
chart requires for the upside rally.Alternatively, a consistent close below 137.00 on H1 chart will check
further key supports.
USD /JPY
137.00
136.80
136.52
136.18
AUGUST,
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
1742
R2 S2
1749
R3 S3
1754
R4
Commentary
S4
1760
Buy Above 1742
1749
1736
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1732
1725
1738
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold trades in narrow range ahead of U.S. Flash PMI data and stabilizes below
$1,740 mark. Today the pair made intraday high at $1,740 and low at $1,734 mark. Today a day chart
and H1 chart with triple EMAsuggest bearish trend for the time being.Asustained close above $1,742
on H1 chart requires for the upside rally.Alternatively, a consistent close below $1,728 on H1 chart will
test further supports. U.S. Flash PMI data and Richmond manufacturing Index data will remain in
focus.
XAU [GOLD]
USD
/
1728
1721
1716
1711
AUGUST,
2022

9. Thank
you!
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