DAILY ANALYSIS REPORT MAY 04 2022

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04 May 2022
Daily Analysis Report

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Asian Bulle n: U.S. dollar moves in rigid boundaries against major peers ahead of U.S. ADP Job data and FOMC Mee ngs, most Asian stock markets in red, gold hovers around $1,865 mark
Key Headlines:
• Japanese banks will be closed in observance of Greenery Day.
• Chinese banks will be closed in observance of Labor Day.
• Australia AIG Construc on Index stands at 55.9 vs 56.5 previous release.
• Australia Retail Sales stand at 1.6 pct vs 1.8 pct previous release.
• New Zealand Employment Change stands at 0.1 pct vs 0.0 pct previous release.
• New Zealand Unemployment Rate remains unchanged at 3.2 pct.
• New Zealand Commodity prices stand at -1.9 pct vs 3.9 pct previous release.
• U.K. BRC Shop Price Index stands at 2.7 pct vs 2.1 pct previous release.
• U.S. stock index futures fell on Tuesday a er a slew of underwhelming earnings reports, while investors braced for a big interest rate hike by the Federal Reserve this week to tame
surging prices – Reuters.
• Tesla Inc Chief Execu ve Elon Musk said on Monday he wants to expand the reach of Twi er beyond the current "niche" un l most Americans use the social media pla orm –
Reuters.
• Russian retailers Magnit and Lenta are in talks with their suppliers and other par es about impor ng goods via Kazakhstan, Russia's southern neighbour and close partner, a Kazakh
official was quoted as saying on Tuesday – Reuters.
• President Joe Biden on Tuesday cri cized as "radical" a dra U.S. Supreme Court decision that would overturn the landmark 1973 Roe v. Wade decision that legalized abor on
na onwide, a bombshell that was denounced by Democrats and stunned even some moderate Republicans – Reuters.
• India registered about 475,000 more total deaths in 2020 than the previous year, government data released months ahead of schedule on Tuesday showed, as the World Health
Organiza on readies its es mates of excess COVID-19 deaths whose methodology New Delhi has opposed – Reuters.
• Senate Democrats will put forward a bill that will codify abor on rights into law this week, with a vote taking place next week, Senate Majority Leader Chuck Schumer said at a
weekly press conference on Tuesday – Reuters.
• Canada's Prime Minister and Deputy Prime Minister affirmed on Tuesday their support of women's right to choose a er a leaked dra ruling suggests the U.S. Supreme Court is
prepared to strike down a landmark decision legalizing abor on – Reuters.
• The U.S. Centers for Disease Control and Preven on (CDC) on Tuesday recommended travelers con nue to wear masks in airplanes, trains and airports despite a judge's April 18
order declaring the 14-month-old transporta on mask mandate unlawful – Reuters.
• Sales of Green, Social and Sustainability (GSS) bonds in Europe could total 1.6 trillion euros ($1.68 trillion) by 2026, making up almost half of all new bond issuance in the region,
according to a new report released on Tuesday – Reuters.
• Italian bank UniCredit said it had launched a pilot project to train staff in Italy to try to boost reten on rates, weeks a er rival heavyweight Intesa Sanpaolo announced a venture
with a private equity firm centred around its learning opera ons – Reuters.
• The euro held close to a five-year low against the U.S. dollar on Tuesday with the Federal Reserve expected to hike rates this week, while traders wait for European Central Bank
President Chris ne Lagarde to give clues on her monetary policy plans – Reuters.
Key Economic Indicators Ahead:
• (0600 GMT/1130 IST) German Trade balance, previous 11.5B, expected 12.3B.
• (0700 GMT/1230 IST) Spanish unemployment Change, previous -2.9K, expected 2.0K.
• (0715 GMT/1245 IST) Spain Services PMI, previous 53.4, expected 56.0.
• (0745 GMT/1315 IST) Italy Services PMI, previous 52.1, expected 54.6.
• (0750 GMT/1320 IST) France Services PMI, previous 58.8, expected 58.8.
• (0755 GMT/1325 IST) German Services PMI, previous 57.9, expected 57.9.
• (0800 GMT/1330 IST) Euro Final Services PMI, previous 57.7, expected 57.7.
• (0900 GMT/1430 IST) Euro Retail Sales, previous 0.3, expected -0.2.
• (1215 GMT/1745 IST) U.S. ADP Job data, previous 455K, expected 382K.
• (1230 GMT/1800 IST) Canada Trade balance, previous 2.7B, expected 3.7B.
• (1230 GMT/1800 IST) U.S. Trade balance, previous -89.2B, expected -107.3B.
• (1345 GMT/1915 IST) U.S. Final Services PMI, previous 54.7, expected 54.7.
• (1400 GMT/1930 IST) U.S. ISM Services PMI, previous 58.3, expected 58.5.
• (1800 GMT/2330 IST) U.S. FOMC Interest Rate Decision, previous 0.5, expected 1.00.
Economic Events Ahead:
• (1830 GMT/0000 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 up 0.01% to 103.47 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
0.7150
R2 S2
0.7176
R3 S3
0.7199
R4
Commentary
S4
0.7226
Buy Above 0.7151
0.7190
0.7110
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.7078
0.7037
0.7121
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: TheAussie trades marginally higher on Wednesday on the back of robust retail sales data
and stabilizes above $0.7100 mark. Today pair made intraday high at $0.7147 and low at $0.7045
mark. A day chart is down and H1 chart with triple EMA suggests up trend for the time being. A
sustained close above $0.7150 on H1 chart requires for the upside rally. Alternatively, a consistent
close below $0.7085 will check further supports.
0.7085
0.7050
0.7021
0.7001
MAY,
2022

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.0540
R2 S2
1.0555
R3 S3
1.0572
R4
Commentary
S4
1.0612
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-
Time Frame: H1
EUR/USD: The trades almost flat on Wednesday ahead of ISM Services PMI data from the Euro Zone
and stabilizes around $1.0520 mark. The pair made intraday high at $1.0534 and low at $1.0514
mark. Today triple EMA on a day chart and H1 chart suggest bearish trend for the time being. A
consistent close above $1.0540 on H1 chart requires for the upside rally. Alternatively, a sustained
close below $1.0485 on H1 chart will check further supports.
EUR / USD
1.0485
1.0462
1.0450
1.0422
Buy Above 1.0540
1.0585
1.0497
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.0485
1.0450
1.0512
– 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
1.2515
R2 S2
1.2550
R3 S3
1.2572
R4
Commentary
S4
1.2615
Buy Above 1.2521
1.2555
1.2478
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2468
1.2422
1.2501
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The Sterling remains almost unchanged in line with the previous close and slips back
below $1.2500 mark. Today pair made intraday high at $1.2505 and low at $1.2483 mark.Aday chart
and H1 chart with triple EMAsuggest down trend for the time being.Asustained close above $1.2515
on H1 chart will check key resistances. Alternatively, a consistent close below $1.2472 will check
further supports.
USD
1.2472
1.2450
1.2426
1.2400
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
1.2896
R3 S3
1.2932
R4
Commentary
S4
1.2965
Buy Above 1.2860
1.2900
1.2826
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2800
1.2768
1.2832
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The CAD trades marginally higher on Wednesday and stabilizes below 1.2850 mark.
Today the pair made intraday high at 1.2840 and low at 1.2815 mark. Today a day chart is up and H1
chart with triple EMA suggests down trend for the time being. A sustained close above 1.2860 on H1
chart requires for the upside rally.Alternatively, a consistent close below 1.2800 on H1 chart will check
key supports too.
USD /CAD
1.2800
1.2780
1.2755
1.2715
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
130.22
R2 S2
130.54
R3 S3
130.76
R4
Commentary
S4
131.12
Buy Above 130.30
130.58
130.05
– Take Profit
– Stop Loss
Trade Idea
Sell Below 129.90
129.55
130.25
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
USD/JPY: The Japanese yen trades flat on Wednesday as Japanese banks will be closed in
observance of Greenery Day. The pair made intraday high at 130.20 and low at 130.03 mark. The
triple EMA on a day chart and H1 chart suggest bullish trend for the time being. A sustained close
above 130.22 on H1 chart requires for the upside rally. Alternatively, a consistent close below 129.86
on H1 chart will check further key supports.
USD /JPY
129.86
129.70
129.44
129.18
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
1872
R2 S2
1876
R3 S3
1882
R4
Commentary
S4
1889
Buy Above 1872
1880
1865
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1858
1848
1865
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold moves in stiff boundaries on Wednesday ahead of U.S. ADP Job data and
FOMC Meeting for the Interest Rate decision. In addition, gold will release U.S. Trade balance as well
as ISM Services PMI data for the further directions. Today pair made intraday high at $1,869 and low
at $1,861 mark. A day chart and H1 chart with triple EMA suggest bearish trend for the time being. A
sustained close above $1,872 on H1 chart requires for the upside rally. Alternatively, a consistent
close below $1,858 on H1 chart will test further supports.
XAU [GOLD]
USD
/
1858
1852
1848
1842
MAY,
2022

9. Thank
you!
Info@tpglobalfx.com
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