The daily analysis report from TP Global FX provides an overview of market conditions and technical analysis on major currency pairs. Key developments include most Asian stock markets trading higher while the US dollar remained flat against major currencies ahead of the US FOMC interest rate decision. Technical analysis is provided for AUD/USD, EUR/USD, GBP/USD, USD/CAD, USD/JPY, and XAU/USD, identifying recent price action, trends, moving averages, and potential buy or sell trade ideas. Upcoming economic data and events are also highlighted.

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26 January 2022
Daily Analysis Report

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Asian Bulle n: U.S. dollar trades almost flat against major peers ahead of U.S. FOMC Interest Rate Decision, most Asian stock markets in green, gold hovers around
$1,848 mark
Key Headlines:
• Australian and Indian banks will be closed in observance of Australia Day and Republic Day respec vely.
• Japan SPPI (Services Producer Price Index) remains unchanged at 1.1 pct.
• U.S. stocks gyrated in a ernoon trading to close lower with interest rate sensi ve tech stocks weighing most heavily as uncertain es surrounding an
increasingly hawkish Federal Reserve and rising geopoli cal tensions contributed to the market's churn – Reuters.
• The 190-country lending agency IMF now forecasts the global economy will expand 4.4% in 2022. That’s down from an es mated 5.9% last year and from the
4.9% the IMF was forecas ng for 2022 back in October.
• American compe veness is at stake as Congress considers whether to support a global tax accord that imposes minimum levies and stricter regula ons on
corpora ons, according to a top U.S. Treasury official – BNN Bloomberg.
• IMF Chief Economist Gopinath - Federal Reserve must remain data-driven.
• IMF Chief Economist Gopinath – Euro zone infla on will likely rise for mul ple quarters before easing toward ECB's target by year-end.
• IMF Chief Economist Gopinath - Escala on In Russia - Ukraine Conflict Could Lead To 'Bigger, Broad-Based Increase In Commodity Prices'.
• U.S. House of Representa ves leaders are set to unveil as soon as later on Tuesday a bill to increase U.S. compe veness with China and boost federal
spending on semiconductors, aides told Reuters – Reuters.
• Signaling U.S. President Joe Biden's picks for the Federal Reserve may face a tough confirma on process in the closely divided Senate, Republican Senator Pat
Toomey told the president he doesn't think his choices fairly represent the na on for which they will help set monetary policy. – Reuters.
• Bank of America Corp is bringing employees back to offices in parts of the United States where new COVID-19 cases have started to decline, a person familiar
with the ma er told Reuters on Tuesday – Reuters.
• German lawmakers are due to debate introducing a bill making vaccina on against COVID-19 mandatory. The idea is facing resistance from poli cians as well
as ordinary Germans – Reuters.
• U.S. financial contribu ons to the World Health Organiza on (WHO) have fallen by 25% during the coronavirus pandemic, provisional data show, with
Washington's future support to the United Na ons agency under review – Reuters.
• The Omicron variant appears to result in less severe COVID-19 than seen during previous periods of high coronavirus transmission including the Delta wave,
with shorter hospital stays, less need for intensive care and fewer deaths, according to a new U.S. study – Reuters.
• The Dutch government will further ease COVID-19 restric ons despite record numbers of coronavirus infec ons, with restaurants, bars and theatres allowed
to re-open star ng Wednesday, Prime Minister Mark Ru e said on Tuesday – Reuters.
• Johnson & Johnson on Tuesday forecast as much as $3.5 billion in sales of its COVID-19 vaccine in 2022, a 46% jump for the shot that has fared poorly
compared to rivals, and said it would take a more aggressive stance on deals for its medical device unit – Reuters.
• The U.S. Federal Reserve could resort to outright asset sales to reduce its balance sheet as part of plans to fight unabated infla on, a Credit Suisse analyst said
in a report – Reuters.
• Worries over a more hawkish Federal Reserve are roiling asset markets around the globe, and this week's monetary policy mee ng may offer insight into how
aggressive the central bank intends to be – Reuters.
Economic Data Ahead:
• (0900 GMT/1430 IST) Swiss Credit Suisse Economic Expecta ons, previous 0.0.
• (1330 GMT/1900 IST) U.S. Goods Trade Balance, previous -98.0B, expected -96.1B.
• (1500 GMT/2030 IST) Canada BoC Interest Rate Decision, previous 0.25, expected 0.25.
• (1500 GMT/2030 IST) U.S. New Home Sales, previous 744K, expected 759K.
• (1900 GMT/0030 IST) U.S. FOMC Interest Rate decision, previous 0.25, expected 0.25.
Economic Events Ahead:
• (1600 GMT/2130 IST) Canada BoC Press Conference.
• (1930 GMT/0100 IST) U.S. FOMC Press Conference.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.03% to 95.92 points.

3. AUD / USD
BUY SELL
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JANUARY,
2022
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
0.7170
R2 S2
0.7190
R3 S3
0.7221
R4
Commentary
S4
0.7240
Buy Above 0.7170
0.7200
0.7147
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.7140
0.7109
0.7165
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie moves in stiff boundaries as Australian banks will be closed in observance of
Australia Day. Today pair made intraday high at $0.7165 and low at $0.7144 mark.Aday chart and H1
chart with triple EMA suggests bearish trend for the time being. A sustained close above $0.7170 on
H1 chart requires for the upside rally.Alternatively, a consistent close below $0.7130 will check further
supports.
0.7140
0.7122
0.7102
0.7080

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.1330
R2 S2
1.1350
R3 S3
1.1378
R4
Commentary
S4
1.1401
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-
Time Frame: H1
EUR/USD: The Euro rises slightly during Asian hours and jumps back above $1.1300 mark. The pair
made intraday high at $1.1310 and low at $1.1293 mark. Today triple EMAon a day chart and H1 chart
suggest bearish trend for the time being. A consistent close above $1.1330 on H1 chart requires for
the upside rally. Alternatively, a sustained close below $1.1290 on H1 chart will check further
supports.
EUR / USD
1.1290
1.1262
1.1255
1.1218
Buy Above 1.1318
1.1350
1.1292
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.1289
1.1262
1.1310
– Take Profit
– Stop Loss
Trade Idea
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50
JANUARY,
2022

5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.3525
R2 S2
1.3540
R3 S3
1.3572
R4
Commentary
S4
1.3599
Buy Above 1.3525
1.3556
1.3499
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.3484
1.3452
1.3518
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The sterling remains volatile duringAsian hours and hovers around $1.3500 mark. Today
pair made intraday high at $1.3520 and low at $1.3484 mark.Aday chart and H1 chart with triple EMA
suggest bullish trend for the time being. A sustained close above $1.3525 on H1 chart will check key
resistances.Alternatively, a consistent close below $1.3482 will check further supports.
USD
1.3482
1.3450
1.3412
1.3400
GBP/
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50
JANUARY,
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
1.2626
R2 S2
1.2660
R3 S3
1.2686
R4
Commentary
S4
1.2702
Buy Above 1.2630
1.2672
1.2602
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2596
1.2560
1.2621
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/CAD: The CAD starts a new day on a positive note ahead of Bank of Canada’s Interest Rate
Decision and hovers around 1.2600 mark. Pair made intraday high at 1.2630 and low at 1.2599 mark.
Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being. A
sustained close above 1.2626 on H1 chart requires for the upside rally. Alternatively, a consistent
close below 1.2599 on H1 chart will check key supports too.
USD /CAD
1.2599
1.2570
1.2550
1.2510
JANUARY,
2022

7. 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
114.01
R2 S2
114.30
R3 S3
114.50
R4
Commentary
S4
114.77
Buy Above 114.01
114.30
113.78
– Take Profit
– Stop Loss
Trade Idea
Sell Below 113.70
113.50
113.95
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/JPY: The Japanese yen remains almost unchanged despite robust SPPI results and stabilizes
below 114.00 mark. The pair made intraday high at 113.92 and low at 113.77 mark. The triple EMAon
a day chart and H1 chart suggests bearish trend for the time being.Asustained close above 114.01 on
H1 chart requires for the upside rally. Alternatively, a consistent close below 113.72 on H1 chart will
check further key supports.
USD /JPY
113.72
113.57
113.38
113.12
JANUARY,
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
1854
R2 S2
1860
R3 S3
1864
R4
Commentary
S4
1871
Buy Above 1855
1867
1847
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1842
1827
1848
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
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Time Frame: H1
XAU/USD (GOLD): The gold trades flat ahead of U.S. FOMC Interest rate decision and remains well
supported above $1,840 mark. Today pair made intraday high at $1,850 and low at $1,846 mark. A
triple EMA on a day chart and H1 chart suggest up trend for the time being. A sustained close above
$1,852 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,831 will
check further supports.
XAU [GOLD]
USD
/
1842
1837
1831
1826
JANUARY,
2022

9. Thank
you!
Info@tpglobalfx.com
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