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DAILY MARKET INSIGHT
12 December 2022
DAILY MARKET
INSIGHT
12 December 2022
DAILY MARKET INSIGHT
12 December 2022
Economic Calendar
Time Currency News Impact Expectation
01:45 AM NZD Visitors Arrivals YoY OCT Medium 4.56%
03:50 AM JPY PPI MoM NOV Medium 8.9%
11:00 AM GBP GDP MoM OCT High 0.4%
11:00 AM GBP Industrial Production YoY OCT Medium -2.7%
11:00 PM USD Monthly Budget Statement
NOV
Medium $-95B
DAILY MARKET INSIGHT
12 December 2022
AUD/USD TREND: NEUTRAL
The AUD/USD pair started the fresh trading week on a muted note. A pre-fed anxiety and risk-
of mood weighs on the risk perceived currency. The spot trades in a very limited price range
with a neutral bias.
Indicators Daily chart Status
RSI 57 Bullish
STOCHASTIC 67 Bullish
MACD Above midline Bullish
200 EMA 0.6773 Bearish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 0.6780 0.6750 0.6720 0.6810
DAILY MARKET INSIGHT
12 December 2022
NZD/USD TREND: BULLISH
NZD/USD hovers below the 0.6400 mark after testing the low of 0.6380 in the early opening
session on Monday. USD is showing the sign of exhaustion near the immediate hurdle of
105.20 lending support to the Kiwi pair.
Indicators Daily chart Status
RSI 66 Bullish
STOCHASTIC 81 Bullish
MACD Above midline Bullish
200 EMA 0.6243 Bullish
Outlook Bullish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 0.6400 0.6370 0.6340 0.6430
DAILY MARKET INSIGHT
12 December 2022
EUR/USD TREND: BULLISH
EUR/USD edges lower on the first trading day of the week. The pair extends the sell-off after
welcoming bears on Friday. A light economic calendar would ask traders to avoid any
aggressive bets.
Indicators Daily chart Status
RSI 62 Bullish
STOCHASTIC 72 Bullish
MACD Above midline Bullish
200 EMA 1.0395 Bullish
Outlook Bullish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.0490 1.0520 1.0550 1.0460
DAILY MARKET INSIGHT
12 December 2022
GBP/USD TREND: BULLISH
GBP/USD remains quite on Monday with modest losses. The pair remains pressured below
the 1.2250 mark and is expected to trace further lower. However, as the long the price find
supports near the 200-day EMA the bargain hunting opportunity could be found.
Indicators Daily chart Status
RSI 62 Bullish
STOCHASTIC 73 Bullish
MACD Above midline Bullish
200 EMA 1.2111 Bullish
Outlook Bullish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.2200 1.2230 1.2260 1.2170
DAILY MARKET INSIGHT
12 December 2022
USD/JPY TREND: NEUTRAL
USD/JPY prints fresh gains above 137.00 above the 200-day moving average. The pair picks
up bids to favour buyers around the mentioned mark. As the cautious mood underpins the US
dollar demand on Monday.
4Indicators Daily chart Status
RSI 39 Bearish
STOCHASTIC 54 Bullish
MACD Below midline Bearish
200 EMA 135.12 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 137.30 137.00 136.70 137.60
DAILY MARKET INSIGHT
12 December 2022
USD/CAD TREND: NEUTRAL
USD/CAD corrected from the high of 1.3675 on Monday as it slides into a range bound trade.
The oil prices rebounds from the yearly low as snaps six-day downtrend amid fears of tight
supply. The spot is expected to trade in a very tight range in the absence of Tier-1 data.
Indicators Daily chart Status
RSI 58 Bullish
STOCHASTIC 88 Bullish
MACD Below midline Bearish
200 EMA 1.3150 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 1.3670 1.3640 1.3610 1.3700
DAILY MARKET INSIGHT
12 December 2022
USD/CHF TREND: BEARISH
USD/CHF advances toward 0.9400 as the risk sentiment soars on Monday. A recent
downbeat in the price seeks some discount buying opportunity in the pair. We expect more
gains above 0.9400 in the coming sessions.
Indicators Daily chart Status
RSI 36 Bearish
STOCHASTIC 22 Bearish
MACD Below midline Bearish
200 EMA 0.9603 Bearish
Outlook BEARISH
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 0.9380 0.9350 0.9320 0.9410
DAILY MARKET INSIGHT
12 December 2022
GOLD TREND: BULLISH
Gold price retreats for the first time in past five trading sessions. As the precious metal kicks
off the new trading session on a lower note. A pre-fed anxiety prevails in the market.
Indicators Daily chart Status
RSI 59 Bullish
STOCHASTIC 65 Bullish
MACD Above midline Bullish
200 EMA $1,771 Bullish
Outlook BULLISH
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy $1,780 $1,790 $1,800 $1,770

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Daily Market Insight-12 December.pdf

  • 1. DAILY MARKET INSIGHT 12 December 2022 DAILY MARKET INSIGHT 12 December 2022
  • 2. DAILY MARKET INSIGHT 12 December 2022 Economic Calendar Time Currency News Impact Expectation 01:45 AM NZD Visitors Arrivals YoY OCT Medium 4.56% 03:50 AM JPY PPI MoM NOV Medium 8.9% 11:00 AM GBP GDP MoM OCT High 0.4% 11:00 AM GBP Industrial Production YoY OCT Medium -2.7% 11:00 PM USD Monthly Budget Statement NOV Medium $-95B
  • 3. DAILY MARKET INSIGHT 12 December 2022 AUD/USD TREND: NEUTRAL The AUD/USD pair started the fresh trading week on a muted note. A pre-fed anxiety and risk- of mood weighs on the risk perceived currency. The spot trades in a very limited price range with a neutral bias. Indicators Daily chart Status RSI 57 Bullish STOCHASTIC 67 Bullish MACD Above midline Bullish 200 EMA 0.6773 Bearish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 0.6780 0.6750 0.6720 0.6810
  • 4. DAILY MARKET INSIGHT 12 December 2022 NZD/USD TREND: BULLISH NZD/USD hovers below the 0.6400 mark after testing the low of 0.6380 in the early opening session on Monday. USD is showing the sign of exhaustion near the immediate hurdle of 105.20 lending support to the Kiwi pair. Indicators Daily chart Status RSI 66 Bullish STOCHASTIC 81 Bullish MACD Above midline Bullish 200 EMA 0.6243 Bullish Outlook Bullish Strategy Action Entry Target 1 Target 2 Stop Loss Sell 0.6400 0.6370 0.6340 0.6430
  • 5. DAILY MARKET INSIGHT 12 December 2022 EUR/USD TREND: BULLISH EUR/USD edges lower on the first trading day of the week. The pair extends the sell-off after welcoming bears on Friday. A light economic calendar would ask traders to avoid any aggressive bets. Indicators Daily chart Status RSI 62 Bullish STOCHASTIC 72 Bullish MACD Above midline Bullish 200 EMA 1.0395 Bullish Outlook Bullish Strategy Action Entry Target 1 Target 2 Stop Loss Buy 1.0490 1.0520 1.0550 1.0460
  • 6. DAILY MARKET INSIGHT 12 December 2022 GBP/USD TREND: BULLISH GBP/USD remains quite on Monday with modest losses. The pair remains pressured below the 1.2250 mark and is expected to trace further lower. However, as the long the price find supports near the 200-day EMA the bargain hunting opportunity could be found. Indicators Daily chart Status RSI 62 Bullish STOCHASTIC 73 Bullish MACD Above midline Bullish 200 EMA 1.2111 Bullish Outlook Bullish Strategy Action Entry Target 1 Target 2 Stop Loss Buy 1.2200 1.2230 1.2260 1.2170
  • 7. DAILY MARKET INSIGHT 12 December 2022 USD/JPY TREND: NEUTRAL USD/JPY prints fresh gains above 137.00 above the 200-day moving average. The pair picks up bids to favour buyers around the mentioned mark. As the cautious mood underpins the US dollar demand on Monday. 4Indicators Daily chart Status RSI 39 Bearish STOCHASTIC 54 Bullish MACD Below midline Bearish 200 EMA 135.12 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 137.30 137.00 136.70 137.60
  • 8. DAILY MARKET INSIGHT 12 December 2022 USD/CAD TREND: NEUTRAL USD/CAD corrected from the high of 1.3675 on Monday as it slides into a range bound trade. The oil prices rebounds from the yearly low as snaps six-day downtrend amid fears of tight supply. The spot is expected to trade in a very tight range in the absence of Tier-1 data. Indicators Daily chart Status RSI 58 Bullish STOCHASTIC 88 Bullish MACD Below midline Bearish 200 EMA 1.3150 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 1.3670 1.3640 1.3610 1.3700
  • 9. DAILY MARKET INSIGHT 12 December 2022 USD/CHF TREND: BEARISH USD/CHF advances toward 0.9400 as the risk sentiment soars on Monday. A recent downbeat in the price seeks some discount buying opportunity in the pair. We expect more gains above 0.9400 in the coming sessions. Indicators Daily chart Status RSI 36 Bearish STOCHASTIC 22 Bearish MACD Below midline Bearish 200 EMA 0.9603 Bearish Outlook BEARISH Strategy Action Entry Target 1 Target 2 Stop Loss Sell 0.9380 0.9350 0.9320 0.9410
  • 10. DAILY MARKET INSIGHT 12 December 2022 GOLD TREND: BULLISH Gold price retreats for the first time in past five trading sessions. As the precious metal kicks off the new trading session on a lower note. A pre-fed anxiety prevails in the market. Indicators Daily chart Status RSI 59 Bullish STOCHASTIC 65 Bullish MACD Above midline Bullish 200 EMA $1,771 Bullish Outlook BULLISH Strategy Action Entry Target 1 Target 2 Stop Loss Buy $1,780 $1,790 $1,800 $1,770