DAILY ANALYSIS REPORT MAY 06 2022

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06 May 2022
Daily Analysis Report

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analysis@tpglobalfx.com
Asian Bulle n: Sterling depreciated extremely a er BOE Policy Rate Statement, Asian stock markets in red, gold back below $1,880 mark, U.S. NFP Employment Change data in focus
Key Headlines:
• Australia AIG services index stands at 57.8 vs 56.2 previous release.
• Japan Tokyo Core CPI stands at 1.9 pct vs 0.8 pct previous release.
• Japan Monetary Base stands at 6.6 pct vs 7.9 pct previous release.
• Britain's pound and government bond yields fell sharply on Thursday, a er the Bank of England raised interest rates to their highest since 2009 but warned that the economy was at
risk of recession – Reuters.
• U.S. stock index futures slipped on Thursday, a day a er the Federal Reserve's less aggressive tone sparked a rally on Wall Street, with investors awai ng jobs data this week for more
clues on the path of interest rates – Reuters.
• German car maker Volkswagen AG plans to invest 10 billion euros ($10.59 billion) to make electric vehicles and ba eries in Spain, its Chief Execu ve Herbert Diess said on Thursday –
Reuters.
• The European Central Bank is preparing for a sequence of rate hikes that will put its benchmark rate in posi ve territory, but the path it takes is more important than the exact date
of the first move, ECB chief economist Philip Lane said on Thursday – Reuters.
• The dollar will retain most of its recent gains for at least another six months, according to a Reuters poll of FX strategists who for years mostly held the view the greenback would
weaken – Reuters.
• Major airlines, business and travel groups and other companies urged the White House on Thursday to abandon COVID-19 pre-departure tes ng requirements for vaccinated
interna onal passengers traveling to the United States – Reuters.
• Goldman Sachs Group Inc is reviewing its policies for abor on benefits, according to a person familiar with the bank's thinking, as companies rush to offer support to their U.S.
employees if the country's top court overturns abor on rights – Reuters.
• African swine fever has been found in a wild boar in Italy's capital Rome, the regional government said in a statement on Thursday – Reuters.
• World Health Organiza on states will consider a resolu on against Russia next week a er its invasion of Ukraine, including the possible closure of a major regional office in Moscow,
a document obtained by Reuters showed on Thursday – Reuters.
• Japan will remain vigilant as it transi ons out of the COVID-19 pandemic and related curbs, Prime Minister Fumio Kishida said on Thursday, adding that some of the virus
countermeasures will be reviewed in June – Reuters.
• A series of dust storms across central and southern Iraq have led to thousands of Iraqis a ending hospitals and clinics to seek treatment for breathing problems, medical officials
said on Thursday – Reuters.
Key Economic Indicators Ahead:
• (0600 GMT/1130 IST) German Industrial produc on, previous 0.2, expected -1.3.
• (0600 GMT/1130 IST) U.K. Halifax HPI, previous 1.4, expected 0.7.
• (0645 GMT/1215 IST) France Prelim Private Payrolls, previous 0.6, expected 0.2.
• (0700 GMT/1230 IST) Swiss Reserves, previous 911B.
• (0800 GMT/1330 IST) Italy Retail Sales, previous 0.7, expected 0.5.
• (0830 GMT/1400 IST) U.K. Construc on PMI, previous 59.1, expected 58.0.
• (1230 GMT/1800 IST) Canada employment change, previous 72.5K, expected 39.5K.
• (1230 GMT/1800 IST) Canada Unemployment Rate, previous 5.3, expected 5.2.
• (1230 GMT/1800 IST) U.S. NFP employment change, previous 431K, expected 390K.
• (1230 GMT/1800 IST) U.S. Unemployment Rate, previous 3.6, expected 3.5.
• (1400 GMT/1930 IST) Canada Ivey PMI, previous 74.2, expected 70.0.
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 0.12% to 103.63 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
0.7140
R2 S2
0.7172
R3 S3
0.7199
R4
Commentary
S4
0.7226
Buy Above 0.7140
0.7172
0.7110
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.7071
0.7040
0.7099
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
AUD/USD: The Aussie erased all the previous gain and touched $0.7081 in early Asian hours. Today
pair made intraday high at $0.7132 and low at $0.7081 mark.Aday chart and H1 chart with triple EMA
suggest down trend for the time being. A sustained close above $0.7130 on H1 chart requires for the
upside rally.Alternatively, a consistent close below $0.7087 will check further supports.
0.7081
0.7055
0.7021
0.7001
MAY,
2022

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.0550
R2 S2
1.0572
R3 S3
1.0604
R4
Commentary
S4
1.0628
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-
Time Frame: H1
EUR/USD: The euro trades marginally lower on Friday ahead of German Industrial Production data
and stabilizes above $1.0500 mark. The pair made intraday high at $1.0550 and low at $1.0515 mark.
Today triple EMA on a day chart and H1 chart suggest bearish trend for the time being. A consistent
close above $1.0550 on H1 chart requires for the upside rally. Alternatively, a sustained close below
$1.0500 on H1 chart will check further supports.
EUR / USD
1.0500
1.0478
1.0450
1.0422
Buy Above 1.0552
1.0582
1.0530
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.0512
1.0481
1.0538
– Take Profit
– Stop Loss
Trade Idea
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
MAY,
2022

5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.2394
R2 S2
1.2418
R3 S3
1.2450
R4
Commentary
S4
1.2481
Buy Above 1.2396
1.2430
1.2368
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2331
1.2300
1.2357
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The sterling spiked down sharply after BoE’s Policy hike decision as expected and
currently hovers round $1.2370 mark. Today pair made intraday high at $1.2380 and low at $1.2333
mark. A day chart and H1 chart with triple EMA suggest bearish trend for the time being. A sustained
close above $1.2394 on H1 chart will check key resistances. Alternatively, a consistent close below
$1.2325 will check further supports.
USD
1.2325
1.2302
1.2278
1.2248
GBP/
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
MAY,
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
1.2860
R2 S2
1.2898
R3 S3
1.2930
R4
Commentary
S4
1.2954
Buy Above 1.2860
1.2895
1.2838
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2820
1.2791
1.2850
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The CAD depreciates on Friday ahead of Canada’s Employment Change data and trading
around 1.2840 mark. Today the pair made intraday high at 1.2856 and low at 1.2813 mark. Today a
day chart and H1 chart with triple EMA suggest up trend for the time being. A sustained close above
1.2860 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2815 on H1
chart will check key supports too.
USD /CAD
1.2815
1.2790
1.2765
1.2750
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
130.82
R2 S2
131.15
R3 S3
131.40
R4
Commentary
S4
131.72
Buy Above 130.82
131.12
130.56
– Take Profit
– Stop Loss
Trade Idea
Sell Below 130.30
130.01
130.56
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY: The Japanese yen falls in early Asia despite robust Tokyo Core CPI data and hovers
around 130.50 mark. The pair made intraday high at 130.81 and low at 130.09 mark. The triple EMA
on a day chart and H1 chart suggest up trend for the time being. A sustained close above 130.76 on
H1 chart requires for the upside rally. Alternatively, a consistent close below 130.10 on H1 chart will
check further key supports.
USD /JPY
130.10
129.82
129.65
129.30
MAY,
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
1882
R2 S2
1889
R3 S3
1894
R4
Commentary
S4
1899
Buy Above 1881
1888
1875
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1864
1857
1870
– 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 currently trading around
$1,875 mark ahead of U.S. NFP job data. Today pair made intraday high at $1,878 and low at $1,866
mark. A day chart and H1 chart with triple EMA suggest down trend for the time being. A sustained
close above $1,882 on H1 chart requires for the upside rally. Alternatively, a consistent close below
$1,870 on H1 chart will test further supports.
XAU [GOLD]
USD
/
1864
1857
1852
1847
MAY,
2022

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