DAILY ANALYSIS REPORT JULY 07 2021

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07 July 2021
Daily Analysis Report

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Asian Bulle n: U.S. dollar strengthens sharply against major peers, U.S. FOMC Mee ng Minutes in focus, Asian stock markets mixed, gold hovers around $1,800 mark
Key Headlines:
• Australia AIG Services Index stands at 57.8 vs 61.2 previous release.
• South Korea Current account stands at 10.76B vs 1.91B previous release.
• Japan Foreign Reserves stands at 1,376.5B vs 1,387.5B previous release.
• The Nasdaq edged higher to another closing record on Tuesday while the Dow and S&P 500 fell – Reuters.
• The U.S. Defense Department canceled its $10 billion JEDI cloud-compu ng project on Tuesday, pulling the Trump-era award to Microso Corp and
announcing a new mul -vendor contract expected to include its big tech rival Amazon – Reuters.
• Biden to zero in on Delta variant as U.S. approaches 160 mln COVID-19 vaccina ons – White House.
• Greek reports jump in COVID cases a er many weeks of decline – Reuters.
• Britain reported the highest daily number of new COVID cases since January 29 on Tuesday, and the greatest number of deaths within 28 days of a posi ve
test since April 23 – Reuters.
• Australia’s government reappointed Reserve Bank’s Debelle for another five-year term, se ng him up to succeed Governor Philip Lowe when he eventually
re res from the top role – Bloomberg.
Economic Data Ahead:
• (0600 GMT/1130 IST) German industrial produc on, previous -1.0, expected 0.5.
• (0645 GMT/1215 IST) France Trade Balance, previous -6.2B, expected -6.0B.
• (0800 GMT/1330 IST) Italy Retail Sales, previous -0.4, expected 3.1.
• (1400 GMT/1930 IST) Canada Ivey PMI, previous 64.7, expected 65.0.
• (1400 GMT/1930 IST) U.S. JOLTS Job Openings, previous 9.29M, expected 9.30M.
Economic Events Ahead:
• (0900 GMT/1430 IST) EU Economic Forecasts.
• (1800 GMT/2330 IST) U.S. FOMC Mee ng Minutes.
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 92.52 points.

3. AUD / USD
BUY SELL
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JULY,
2
021
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
0.7502
R2 S2
0.7520
R3 S3
0.7542
R4
Commentary
S4
0.7575
Buy Above 0.7502
0.7525
0.7475
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.7475
0.7451
0.7497
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie weakens in early Asia as AIG Services Index data misses expectations.
The pair made intraday high at $0.7497 and low at $0.7482 mark. A day chart as well as H1 chart
with triple EMA suggests bearish trend for the time being. A sustained close above $0.7502 on H1
chart requires for the upside rally. Alternatively, a consistent close below $0.7478 will check further
supports.
0.7478
0.7451
0.7420
0.7398

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.1832
R2 S2
1.1850
R3 S3
1.1878
R4
Commentary
S4
1.1904
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-
Time Frame: H1
EUR/USD: The euro exhibits range bound movement on Wednesday and hovers around $1.1822
mark. Today pair made intraday high at $1.1825 and low at $1.1814. Today triple EMA on a day
and H1 chart suggest down trend for the time being. A consistent close above $1.1832 on H1
chart requires for the upside rally. Alternatively, a sustained close below $1.1810 on H1 chart will
check further supports.
EUR / USD
1.1797
1.1768
1.1740
1.1710
Buy Above 1.1832
1.1851
1.1805
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.1799
1.1778
1.1823
– Take Profit
– Stop Loss
Trade Idea
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
JULY,
2
021

5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.3810
R2 S2
1.3837
R3 S3
1.3855
R4
Commentary
S4
1.3879
Buy Above 1.3810
1.3837
1.3780
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.3776
1.3751
1.3806
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The Sterling moves in rigid boundaries and slips below $1.38 mark. The pair made
intraday high at $1.3808 and low at $1.3784 mark. A day chart and H1 chart with triple EMA
suggests down trend for the time being. A sustained close above $1.3810 on H1 chart will check
key resistances. Alternatively, a consistent close below $1.3778 will check further supports.
USD
1.3778
1.3750
1.3732
1.3705
GBP/
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
JULY,
2
021

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
1.2494
R2 S2
1.2522
R3 S3
1.2540
R4
Commentary
S4
1.2578
Buy Above 1.2485
1.2515
1.2455
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2448
1.2422
1.2477
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The Canadian dollar fell sharply in previous session and currently trading around
1.2470 mark. Today pair made intraday high at 1.2474 and low at 1.2452 mark. Today a day chart
and H1 chart with triple EMA suggests up trend for the time being. A sustained close above
1.2485 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2450 on
H1 chart will check key supports too.
USD /CAD
1.2450
1.2410
1.2382
1.2365
JULY,
2
021

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
110.72
R2 S2
110.90
R3 S3
111.22
R4
Commentary
S4
111.48
Buy Above 110.70
110.95
110.38
– Take Profit
– Stop Loss
Trade Idea
Sell Below 110.27
110.00
110.67
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/JPY: The Japanese yen strengthens sharply on robust U.S. Economic data and touches
110.39 mark in Asian hours. The pair made intraday high at 110.66 and low at 110.39 mark. The
triple EMA on a day chart is up while H1 chart suggests down trend for the time being. A sustained
close above 110.72 on H1 chart requires for the upside rally. Alternatively, a consistent close
below 110.28 on H1 will check further key supports.
USD /JPY
110.28
110.01
109.72
109.50
JULY,
2
021

8. 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
1804
R2 S2
1809
R3 S3
1815
R4
Commentary
S4
1821
Buy Above 1804
1810
1796
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1789
1783
1799
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold remained highly volatile in previous session and touched $1,815 mark.
Today pair made intraday high at $1,803 and low $1,793 mark. A day chart is bearish but H1 chart
with triple EMA suggests bullish trend for the time being. A sustained close above $1,804 on H1
chart requires for the upside rally. Alternatively, a consistent close below $1,789 will check further
supports. Traders eye U.S. FOMC Meeting Minutes for the further guidance.
XAU [GOLD]
USD
/
1789
1784
1778
1772
JULY,
2
021

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