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DAILY MARKET INSIGHT
9 December 2022
DAILY MARKET
INSIGHT
9 December 2022
DAILY MARKET INSIGHT
9 December 2022
Economic Calendar
Time Currency News Impact Expectation
01:45 AM NZD Manufacturing Sales YoY Q3 Medium 4.5%
05:30 PM USD PPI MoM NOV High 0.3%
07:00 PM USD Michigan Consumer
Sentiment Prel Dec
High 56.4
09:00 PM USD Fed Quarterly Financial
Accounts
High -
DAILY MARKET INSIGHT
9 December 2022
AUD/USD TREND: NEUTRAL
The AUD/USD pair picks up the momentum toward 0.6800 printing gains for the third straight
session. A weekly close above the 200-day EMA would be a bullish sign. The USD weakness
fuels the demand.
Indicators Daily chart Status
RSI 59 Bullish
STOCHASTIC 77 Bullish
MACD Above midline Bullish
200 EMA 0.6835 Bearish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.6765 0.6735 0.6705 0.6795
DAILY MARKET INSIGHT
9 December 2022
NZD/USD TREND: BULLISH
NZD/USD advances higher and on the way to record gains for the eight week. An ease of
China covid restriction turn-on the risk mood help the gains in the risk sensitive Kiwi.
Indicators Daily chart Status
RSI 68 Bullish
STOCHASTIC 89 Bullish
MACD Above midline Bullish
200 EMA 0.6246 Bullish
Outlook Bullish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.6390 0.6420 0.6450 0.6360
DAILY MARKET INSIGHT
9 December 2022
EUR/USD TREND: BULLISH
EUR/USD edges higher during four-day uptrend and braces for the weekly gains. A
downbeat U.S. data and Treasury bond yields exerts pressure on the U.S dollar.
Indicators Daily chart Status
RSI 68 Bullish
STOCHASTIC 95 Bullish
MACD Above midline Bullish
200 EMA 1.0393 Bullish
Outlook Bullish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.0560 1.0590 1.0620 1.0530
DAILY MARKET INSIGHT
9 December 2022
GBP/USD TREND: BULLISH
GBP/USD press the escalator for the third consecutive data managing demand near the 200-
day EMA. The Sterling braces for the Bank of England’s (BoE) hawkish move during next
week’s monetary policy.
Indicators Daily chart Status
RSI 64 Bullish
STOCHASTIC 86 Bullish
MACD Above midline Bullish
200 EMA 1.2109 Bullish
Outlook Bullish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.2250 1.2280 1.2310 1.2220
DAILY MARKET INSIGHT
9 December 2022
USD/JPY TREND: NEUTRAL
USD/JPY prints fresh losses below 136.00. The pair sensed immense pressure as the
greenback is witnessing an intense sell-off. A late recovery in investor’s risk appetite has faded
safe-haven’s appeal.
4Indicators Daily chart Status
RSI 35 Bearish
STOCHASTIC 27 Bearish
MACD Below midline Bearish
200 EMA 135.07 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 136.10 135.80 135.50 136.40
DAILY MARKET INSIGHT
9 December 2022
USD/CAD TREND: NEUTRAL
USD/CAD corrected toward 1.3350 on Friday. The spot probes the first weekly gain in three-
day during early Friday. The bias remains negative for the pair.
Indicators Daily chart Status
RSI 55 Bullish
STOCHASTIC 70 Bullish
MACD Below midline Bearish
200 EMA 1.3150 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 1.3610 1.3580 1.3550 1.3640
DAILY MARKET INSIGHT
9 December 2022
USD/CHF TREND: BEARISH
USD/CHF declines below 0.9350 as a risk-on impulse booked the limelight. A heightened
volatility in the currency market is accelerating as Fed is set to announce last monetary
policy of CY2022.
Indicators Daily chart Status
RSI 34 Bearish
STOCHASTIC 4 Bearish
MACD Below midline Bearish
200 EMA 0.9608 Bearish
Outlook BEARISH
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 0.9350 0.9320 0.9290 0.9380
DAILY MARKET INSIGHT
9 December 2022
GOLD TREND: BULLISH
Gold price picks up the bids around $1,790 and moving toward weekly gains in the early
session. A move above $1,800.00 with volumes would see short term gains. Still an
advancement in the US dollar could makes bears hopeful.
Indicators Daily chart Status
RSI 63 Bullish
STOCHASTIC 83 Bullish
MACD Above midline Bullish
200 EMA $1,760 Bullish
Outlook BULLISH
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy $1,795 $1,805 $1,815 $1,785

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Daily Market Insight-09 December.pdf

  • 1. DAILY MARKET INSIGHT 9 December 2022 DAILY MARKET INSIGHT 9 December 2022
  • 2. DAILY MARKET INSIGHT 9 December 2022 Economic Calendar Time Currency News Impact Expectation 01:45 AM NZD Manufacturing Sales YoY Q3 Medium 4.5% 05:30 PM USD PPI MoM NOV High 0.3% 07:00 PM USD Michigan Consumer Sentiment Prel Dec High 56.4 09:00 PM USD Fed Quarterly Financial Accounts High -
  • 3. DAILY MARKET INSIGHT 9 December 2022 AUD/USD TREND: NEUTRAL The AUD/USD pair picks up the momentum toward 0.6800 printing gains for the third straight session. A weekly close above the 200-day EMA would be a bullish sign. The USD weakness fuels the demand. Indicators Daily chart Status RSI 59 Bullish STOCHASTIC 77 Bullish MACD Above midline Bullish 200 EMA 0.6835 Bearish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.6765 0.6735 0.6705 0.6795
  • 4. DAILY MARKET INSIGHT 9 December 2022 NZD/USD TREND: BULLISH NZD/USD advances higher and on the way to record gains for the eight week. An ease of China covid restriction turn-on the risk mood help the gains in the risk sensitive Kiwi. Indicators Daily chart Status RSI 68 Bullish STOCHASTIC 89 Bullish MACD Above midline Bullish 200 EMA 0.6246 Bullish Outlook Bullish Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.6390 0.6420 0.6450 0.6360
  • 5. DAILY MARKET INSIGHT 9 December 2022 EUR/USD TREND: BULLISH EUR/USD edges higher during four-day uptrend and braces for the weekly gains. A downbeat U.S. data and Treasury bond yields exerts pressure on the U.S dollar. Indicators Daily chart Status RSI 68 Bullish STOCHASTIC 95 Bullish MACD Above midline Bullish 200 EMA 1.0393 Bullish Outlook Bullish Strategy Action Entry Target 1 Target 2 Stop Loss Buy 1.0560 1.0590 1.0620 1.0530
  • 6. DAILY MARKET INSIGHT 9 December 2022 GBP/USD TREND: BULLISH GBP/USD press the escalator for the third consecutive data managing demand near the 200- day EMA. The Sterling braces for the Bank of England’s (BoE) hawkish move during next week’s monetary policy. Indicators Daily chart Status RSI 64 Bullish STOCHASTIC 86 Bullish MACD Above midline Bullish 200 EMA 1.2109 Bullish Outlook Bullish Strategy Action Entry Target 1 Target 2 Stop Loss Buy 1.2250 1.2280 1.2310 1.2220
  • 7. DAILY MARKET INSIGHT 9 December 2022 USD/JPY TREND: NEUTRAL USD/JPY prints fresh losses below 136.00. The pair sensed immense pressure as the greenback is witnessing an intense sell-off. A late recovery in investor’s risk appetite has faded safe-haven’s appeal. 4Indicators Daily chart Status RSI 35 Bearish STOCHASTIC 27 Bearish MACD Below midline Bearish 200 EMA 135.07 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 136.10 135.80 135.50 136.40
  • 8. DAILY MARKET INSIGHT 9 December 2022 USD/CAD TREND: NEUTRAL USD/CAD corrected toward 1.3350 on Friday. The spot probes the first weekly gain in three- day during early Friday. The bias remains negative for the pair. Indicators Daily chart Status RSI 55 Bullish STOCHASTIC 70 Bullish MACD Below midline Bearish 200 EMA 1.3150 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 1.3610 1.3580 1.3550 1.3640
  • 9. DAILY MARKET INSIGHT 9 December 2022 USD/CHF TREND: BEARISH USD/CHF declines below 0.9350 as a risk-on impulse booked the limelight. A heightened volatility in the currency market is accelerating as Fed is set to announce last monetary policy of CY2022. Indicators Daily chart Status RSI 34 Bearish STOCHASTIC 4 Bearish MACD Below midline Bearish 200 EMA 0.9608 Bearish Outlook BEARISH Strategy Action Entry Target 1 Target 2 Stop Loss Sell 0.9350 0.9320 0.9290 0.9380
  • 10. DAILY MARKET INSIGHT 9 December 2022 GOLD TREND: BULLISH Gold price picks up the bids around $1,790 and moving toward weekly gains in the early session. A move above $1,800.00 with volumes would see short term gains. Still an advancement in the US dollar could makes bears hopeful. Indicators Daily chart Status RSI 63 Bullish STOCHASTIC 83 Bullish MACD Above midline Bullish 200 EMA $1,760 Bullish Outlook BULLISH Strategy Action Entry Target 1 Target 2 Stop Loss Buy $1,795 $1,805 $1,815 $1,785