DAILY ANALYSIS REPORT AUGUST 29 2022

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29 August 2022
Daily Analysis Report

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Asian Bulle n: U.S. dollar strengthens on hawkish message by Fed Chair Powell at Jackson Hole Symposium, Asian stock markets in red, gold hovers around $1,722 mark
Key Headlines:
• The dollar index scaled to a fresh two-decade peak of 109.4 in early Asia trade, with greenback strength pushing other major currencies to new lows and pu ng pressure on its
emerging markets counterparts – Reuters.
• India likely recorded strong double-digit economic growth in the last quarter but economists polled by Reuters expected the pace to more than halve this quarter and slow further
toward the end of the year as interest rates rise – Reuters.
• Australia Retail Sales stand at 1.3 pct vs 0.2 pct previous release.
• U.K. banks will be closed in observance of the Summer Bank Holiday.
• Investors dumped U.S. bond funds in the week to Aug 24 as they waited to hear a speech by Federal Reserve Chair Jerome Powell later on Friday which will be scru nised for clues
on the pace of forthcoming interest rate hikes – Reuters.
• U.S. stock index futures slipped on Friday as investors worried about hawkish signals from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium amid fears of
slowing economic growth – Reuters.
• Global equity funds witnessed their biggest weekly capital withdrawals in five weeks in the week to Aug. 24 on concerns that rate hikes would lead to a recession – Reuters.
• Consumer morale in the euro zone's two biggest economies diverged starkly in August as French consumers benefited from fresh government measures while concerns over rising
energy bills hit their German counterparts, surveys showed on Friday – Reuters.
• Britain's two banking regulators on Friday concluded that they will not take any enforcement ac on against certain former unnamed senior managers at the collapsed bank HBOS,
the Bank of England said in a statement – Reuters.
• Some European Central Bank policymakers want to discuss a 75 basis point interest rate hike at the September policy mee ng, even if recession risks loom, as the infla on outlook is
deteriora ng, five sources with direct knowledge of the process told Reuters – Reuters.
• China's Bank of Communica ons (BoCom) , on Friday warned of liquidity risks in the property sector a er it posted an almost 5% rise in first half net profit – Reuters.
• Hungary's central bank is expected to raise its base interest rate by 100 basis points to 11.75% next Tuesday, with more hikes to come this year as infla on keeps rising due to surging
energy prices and a weak forint – Reuters.
• The Indian rupee is likely to struggle against the dollar as slowing global growth and the Federal Reserve's interest rate stance overshadows Reserve Bank of India's interven on,
Societe General suggested in a note on Friday – Reuters.
• Very few people who have go en monkeypox shots in the United States have received the second dose needed for full protec on, U.S. Centers for Disease Control and Preven on
(CDC) Director Rochelle Walensky said on Friday – Reuters.
• More than 90 countries where monkeypox is not endemic have reported outbreaks of the viral disease, which the World Health Organiza on has declared a global health
emergency, as confirmed cases crossed 46,300 and non-endemic countries reported their first related deaths – Reuters.
• Britain's medicines regulator on Friday approved Novavax's COVID-19 vaccine for children aged between 12 and 17 years – Reuters.
• China s ll requires interna onal passengers to take pre-departure COVID-19 tests and quaran ne upon arrival, the customs office said on Friday, a day a er dropping some repor ng
requirements for travellers clearing customs – Reuters.
Key Economic Indicators Ahead:
• No key indicators scheduled for the day.
Economic Events Ahead:
• (1815 GMT/2345 IST) U.S. FOMC Member Brainard Speaks.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.48 pct to 109.33 points.

3. AUD / USD
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
0.6890
R2 S2
0.6922
R3 S3
0.6950
R4
Commentary
S4
0.6974
Buy Above 0.6890
0.6930
0.6855
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.6837
0.6805
0.6870
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The parity opens gap down on Monday and hits lowest level since July 19, 2022. Today
pair made intraday high at $0.6885 and low at $0.6848 mark.Aday chart and H1 chart with triple EMA
suggest bearish trend for the time being.Asustained close above $0.6890 on H1 chart requires for the
upside rally.Alternatively, a consistent close below $0.6850 will check further supports.
0.6838
0.6812
0.6787
0.6762
AUGUST,
2022

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
0.9950
R2 S2
0.9978
R3 S3
0.9999
R4
Commentary
S4
1.0024
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-
Time Frame: H1
EUR/USD: The euro starts a new day on a lower note and hovers around $0.9920 mark. Today the
pair made intraday high at $0.9965 and low at $0.9918 mark. Today triple EMAon a day chart and H1
chart suggest bearish trend for the time being.Aconsistent close above $0.9950 on H1 chart requires
for the upside rally. Alternatively, a sustained close below $0.9905 on H1 chart will check further
supports.
EUR / USD
0.9905
0.9878
0.9847
0.9815
Buy Above 0.9950
0.9978
0.9922
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.9905
0.9870
0.9940
– 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
1.1690
R2 S2
1.1722
R3 S3
1.1750
R4
Commentary
S4
1.1778
Buy Above 1.1680
1.1720
1.1652
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.1632
1.1590
1.1665
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The sterling depreciates on Monday and hovers around $1.1652 mark. It is the lowest
level since March 02, 2020.Today pair made intraday high at $1.1734 and low at $1.1652 mark.Aday
chart and H1 chart with triple EMA suggest down trend for the time being. A sustained close above
$1.1687 on H1 chart will check key resistances. Alternatively, a consistent close below $1.1637 will
check further supports.
USD
1.1637
1.1602
1.1585
1.1555
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
1.3090
R2 S2
1.3122
R3 S3
1.3150
R4
Commentary
S4
1.3176
Buy Above 1.3090
1.3126
1.3062
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.3050
1.3022
1.3078
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The CAD starts a new week on lower note and parity hits highest level since July 15, 2022.
Today the pair made intraday high at 1.3073 and low at 1.3030 mark. Today a day chart and H1 chart
with triple EMA suggest up trend for the time being. A sustained close above 1.3084 on H1 chart
requires for the upside rally. Alternatively, a consistent close below 1.3030 on H1 chart will check key
supports too.
USD /CAD
1.3030
1.3001
1.2978
1.2940
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
138.72
R2 S2
138.99
R3 S3
139.26
R4
Commentary
S4
139.54
Buy Above 138.74
139.31
138.30
– Take Profit
– Stop Loss
Trade Idea
Sell Below 137.90
137.40
138.30
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY: The Japanese yen falls sharply on Monday and stabilizes above 138.50 mark. The pair
made intraday high at 138.67 and low at 137.55 mark. The triple EMA on a day chart and H1 chart
suggest up trend for the time being. A sustained close above 138.72 on H1 chart requires for the
upside rally.Alternatively, a consistent close below 137.87 on H1 chart will check further key supports.
USD /JPY
137.90
137.62
137.30
137.04
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
1730
R2 S2
1737
R3 S3
1742
R4
Commentary
S4
1749
Buy Above 1730
1736
1725
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1718
1711
1725
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold weakens extremely after super hawkish tone delivered by Fed Chair Powell
at Jackson Hole Symposium. Today the pair made intraday high at $1,738 and low at $1,721 mark.
Today 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
$1,718 on H1 chart will test further supports.
XAU [GOLD]
USD
/
1718
1712
1708
1702
AUGUST,
2022

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