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DAILY MARKET INSIGHT
22 December 2022
DAILY MARKET
INSIGHT
22 December 2022
DAILY MARKET INSIGHT
22 December 2022
Economic Calendar
Time Currency News Impact Expectation
09:00 AM JPY Leading Economic Index
Final
Medium 99
11:00 AM GBP Current Account Medium $-18B
11:00 AM GBP GDP Growth Rate QoQ
Final
Medium -0.2%
12:00 PM CHF Current Account Medium CHF 12.9B
05:30 PM USD Initial Jobless Claims Medium 225K
05:30 PM USD GDP Growth Rate QoQ
Final
Medium 2.9%
DAILY MARKET INSIGHT
22 December 2022
AUD/USD TREND: NEUTRAL
The AUD/USD pair extends gains above 0.6760 following two days of consolidation. The
Aussie capitalized on the risk flow that underpins the demand in the risk sensitive currency.
Indicators Daily chart Status
RSI 54 Bullish
STOCHASTIC 50 Bullish
MACD Above midline Bullish
200 EMA 0.6827 Bearish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.6750 0.6780 0.6810 0.6720
DAILY MARKET INSIGHT
22 December 2022
NZD/USD TREND: BULLISH
NZD/USD edges higher on Friday following a retreat in the greenback. The pair attempts to
move above 0.6350 as the support around 0.6300 get tested twice.
Indicators Daily chart Status
RSI 54 Bullish
STOCHASTIC 21 Bearish
MACD Above midline Bullish
200 EMA 0.6251 Bullish
Outlook Bullish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.6310 0.6340 0.6370 0.6280
DAILY MARKET INSIGHT
22 December 2022
EUR/USD TREND: BULLISH
EUR/USD attempts a rebound toward 1.0650 on Thursday. The U.S. dollar comes under
renewed selling pressure amid a risk-on market profile. The price trades along the ascending
trend line.
Indicators Daily chart Status
RSI 65 Bullish
STOCHASTIC 68 Bullish
MACD Above midline Bullish
200 EMA 1.0469 Bullish
Outlook Bullish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.0640 1.0670 1.0700 1.0610
DAILY MARKET INSIGHT
22 December 2022
GBP/USD TREND: NEUTRAL
GBP/USD prints mild gains above 1.2130 as it pares the previous days loses ahead of the UK
and the US’s Q3. The oversold momentum oscillator indicates buying opportunity near the
lower levels.
Indicators Daily chart Status
RSI 53 Bullish
STOCHASTIC 19 Bearish
MACD Above midline Bullish
200 EMA 1.2117 Bullish
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.2120 1.2150 1.2180 1.2090
DAILY MARKET INSIGHT
22 December 2022
USD/JPY TREND: BEARISH
USD/JPY dropped below 132.00. The recent price action linked to the mixed headlines from
Japan as well as sluggish U.S. Treasury yields and the holiday mood in the market. We hold
a negative bias.
4Indicators Daily chart Status
RSI 32 Bearish
STOCHASTIC 16 Bearish
MACD Below midline Bearish
200 EMA 135.17 Bearish
Outlook Bearish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 131.80 131.50 131.20 132.10
DAILY MARKET INSIGHT
22 December 2022
USD/CAD TREND: NEUTRAL
USD/CAD surrenders the gains and trade with a negative bias on Thursday. The underlying
Canadian inflation pressure is picking up as the data showed on Wednesday. However, a
weakness in USD led the losses.
Indicators Daily chart Status
RSI 51 Bullish
STOCHASTIC 61 Bullish
MACD Below midline Bearish
200 EMA 1.3191 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 1.3590 1.3560 1.3530 1.3620
DAILY MARKET INSIGHT
22 December 2022
USD/CHF TREND: BEARISH
On the daily chart, the USD/CHF pair refreshes intraday low for the fourth straight day. A
retreat in USD following a pullback in Treasury yields amid mixed sentiment exerts pressure
on the pair.
Indicators Daily chart Status
RSI 34 Bearish
STOCHASTIC 10 Bearish
MACD Below midline Bearish
200 EMA 0.9584 Bearish
Outlook BEARISH
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 0.9245 0.9215 0.9185 0.9275
DAILY MARKET INSIGHT
22 December 2022
GOLD TREND: BULLISH
Gold prices advance higher on Thursday amid cautious market mood. Investors rush to the
precious metal as the risk sentiment drops. More gains above $1,820 close.
Indicators Daily chart Status
RSI 62 Bullish
STOCHASTIC 91 Bullish
MACD Above midline Bullish
200 EMA $1,709 Bullish
Outlook Bullish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy $1,820 $1,830 $1,840 $1,810

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Daily Market Insight-22 December.pdf

  • 1. DAILY MARKET INSIGHT 22 December 2022 DAILY MARKET INSIGHT 22 December 2022
  • 2. DAILY MARKET INSIGHT 22 December 2022 Economic Calendar Time Currency News Impact Expectation 09:00 AM JPY Leading Economic Index Final Medium 99 11:00 AM GBP Current Account Medium $-18B 11:00 AM GBP GDP Growth Rate QoQ Final Medium -0.2% 12:00 PM CHF Current Account Medium CHF 12.9B 05:30 PM USD Initial Jobless Claims Medium 225K 05:30 PM USD GDP Growth Rate QoQ Final Medium 2.9%
  • 3. DAILY MARKET INSIGHT 22 December 2022 AUD/USD TREND: NEUTRAL The AUD/USD pair extends gains above 0.6760 following two days of consolidation. The Aussie capitalized on the risk flow that underpins the demand in the risk sensitive currency. Indicators Daily chart Status RSI 54 Bullish STOCHASTIC 50 Bullish MACD Above midline Bullish 200 EMA 0.6827 Bearish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.6750 0.6780 0.6810 0.6720
  • 4. DAILY MARKET INSIGHT 22 December 2022 NZD/USD TREND: BULLISH NZD/USD edges higher on Friday following a retreat in the greenback. The pair attempts to move above 0.6350 as the support around 0.6300 get tested twice. Indicators Daily chart Status RSI 54 Bullish STOCHASTIC 21 Bearish MACD Above midline Bullish 200 EMA 0.6251 Bullish Outlook Bullish Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.6310 0.6340 0.6370 0.6280
  • 5. DAILY MARKET INSIGHT 22 December 2022 EUR/USD TREND: BULLISH EUR/USD attempts a rebound toward 1.0650 on Thursday. The U.S. dollar comes under renewed selling pressure amid a risk-on market profile. The price trades along the ascending trend line. Indicators Daily chart Status RSI 65 Bullish STOCHASTIC 68 Bullish MACD Above midline Bullish 200 EMA 1.0469 Bullish Outlook Bullish Strategy Action Entry Target 1 Target 2 Stop Loss Buy 1.0640 1.0670 1.0700 1.0610
  • 6. DAILY MARKET INSIGHT 22 December 2022 GBP/USD TREND: NEUTRAL GBP/USD prints mild gains above 1.2130 as it pares the previous days loses ahead of the UK and the US’s Q3. The oversold momentum oscillator indicates buying opportunity near the lower levels. Indicators Daily chart Status RSI 53 Bullish STOCHASTIC 19 Bearish MACD Above midline Bullish 200 EMA 1.2117 Bullish Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Buy 1.2120 1.2150 1.2180 1.2090
  • 7. DAILY MARKET INSIGHT 22 December 2022 USD/JPY TREND: BEARISH USD/JPY dropped below 132.00. The recent price action linked to the mixed headlines from Japan as well as sluggish U.S. Treasury yields and the holiday mood in the market. We hold a negative bias. 4Indicators Daily chart Status RSI 32 Bearish STOCHASTIC 16 Bearish MACD Below midline Bearish 200 EMA 135.17 Bearish Outlook Bearish Strategy Action Entry Target 1 Target 2 Stop Loss Sell 131.80 131.50 131.20 132.10
  • 8. DAILY MARKET INSIGHT 22 December 2022 USD/CAD TREND: NEUTRAL USD/CAD surrenders the gains and trade with a negative bias on Thursday. The underlying Canadian inflation pressure is picking up as the data showed on Wednesday. However, a weakness in USD led the losses. Indicators Daily chart Status RSI 51 Bullish STOCHASTIC 61 Bullish MACD Below midline Bearish 200 EMA 1.3191 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 1.3590 1.3560 1.3530 1.3620
  • 9. DAILY MARKET INSIGHT 22 December 2022 USD/CHF TREND: BEARISH On the daily chart, the USD/CHF pair refreshes intraday low for the fourth straight day. A retreat in USD following a pullback in Treasury yields amid mixed sentiment exerts pressure on the pair. Indicators Daily chart Status RSI 34 Bearish STOCHASTIC 10 Bearish MACD Below midline Bearish 200 EMA 0.9584 Bearish Outlook BEARISH Strategy Action Entry Target 1 Target 2 Stop Loss Sell 0.9245 0.9215 0.9185 0.9275
  • 10. DAILY MARKET INSIGHT 22 December 2022 GOLD TREND: BULLISH Gold prices advance higher on Thursday amid cautious market mood. Investors rush to the precious metal as the risk sentiment drops. More gains above $1,820 close. Indicators Daily chart Status RSI 62 Bullish STOCHASTIC 91 Bullish MACD Above midline Bullish 200 EMA $1,709 Bullish Outlook Bullish Strategy Action Entry Target 1 Target 2 Stop Loss Buy $1,820 $1,830 $1,840 $1,810