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DAILY MARKET INSIGHT
20 December 2022
DAILY MARKET
INSIGHT
20 December 2022
DAILY MARKET INSIGHT
20 December 2022
Economic Calendar
Time Currency News Impact Expectation
01:45 AM NZD Balance of Trade Medium NZ$-1800M
04:00 AM NZD ANZ Business Confidence Medium -52
04:30 AM AUD RBA Meeting Minutes High -
07:00 AM JPY BoJ Interest Rate Decision High -0.1%
11:00 AM CHF Balance of Trade Medium CHF3.2B
05:30 PM CAD Retail Sales MoM Medium 1.5%
05:30 PM USD Building Permits Prel High 1.48M
07:00 PM EURO Consumer Confidence Flash Medium -24.6
DAILY MARKET INSIGHT
20 December 2022
AUD/USD TREND: NEUTRAL
The AUD/USD pair slipped below 0.6650 reversing its early morning gains. The formation of
‘Tweezer bottom’ indicates a support area around 0.6620.
Indicators Daily chart Status
RSI 46 Bearish
STOCHASTIC 1 Bearish
MACD Above midline Bullish
200 EMA 0.6827 Bearish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 0.6650 0.6620 0.6590 0.6680
DAILY MARKET INSIGHT
20 December 2022
NZD/USD TREND: NEUTRAL
NZD/USD slipped toward 0.6300 on Tuesday. The pair is taking out a key level and printing
fresh lows within a bearish sentiment. A stable USD exerts the pressure on risk sensitive Kiwi
pair.
Indicators Daily chart Status
RSI 54 Bullish
STOCHASTIC 8 Bearish
MACD Above midline Bullish
200 EMA 0.6251 Neutral
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 0.6320 0.6290 0.6260 0.6350
DAILY MARKET INSIGHT
20 December 2022
EUR/USD TREND: BULLISH
EUR/USD recovery elusive near 1.0600 on the daily chart. The European Central Bank
(ECB) policymaker and Germany’s central bank head said that the central bank is still a long
way from hitting its inflation goal.
Indicators Daily chart Status
RSI 63 Bullish
STOCHASTIC 57 Bullish
MACD Above midline Bullish
200 EMA 1.0469 Bullish
Outlook Bullish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 1.0600 1.0570 1.0540 1.0630
DAILY MARKET INSIGHT
20 December 2022
GBP/USD TREND: NEUTRAL
GBP/USD is taking support near the 200-day EMA on the daily chart. The pair bounced near
1.2120, having paused its three-day bearish momentum. The U.S. dollar stays steady
following a tepid market mood.
Indicators Daily chart Status
RSI 53 Bullish
STOCHASTIC 7 Bearish
MACD Above midline Bullish
200 EMA 1.2117 Bullish
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 1.2110 1.2080 1.2050 1.2140
DAILY MARKET INSIGHT
20 December 2022
USD/JPY TREND: BEARISH
USD/JPY extends the sell-off and dropped over 2% after the Bank of Japan (BoJ) hiked its
Yield curve control from 0.25% to 0.50% and increased bond-buying. The cash rate held
unchanged at -0.10%.
4Indicators Daily chart Status
RSI 33 Bearish
STOCHASTIC 4 Bearish
MACD Below midline Bearish
200 EMA 135.17 Bearish
Outlook Bearish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 133.10 133.40 133.70 132.80
DAILY MARKET INSIGHT
20 December 2022
USD/CAD TREND: NEUTRAL
USD/CAD faces the resistance near the horizontal zone of 1.3680-1.3700 for the past few
sessions. Recovery in oil price strengthen the Lonnie but the gains were limited.
Indicators Daily chart Status
RSI 57 Bullish
STOCHASTIC 91 Bullish
MACD Below midline Bearish
200 EMA 1.3191 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 1.3700 1.3670 1.3640 1.3730
DAILY MARKET INSIGHT
20 December 2022
USD/CHF TREND: BEARISH
On the daily chart, the USD/CHF pair manages to take support around 0.9290. After the
selling in the previous session the bears seem exhausted. But the upside pressure remains
intact. A sideways trade is expected.
Indicators Daily chart Status
RSI 37 Bearish
STOCHASTIC 30 Bearish
MACD Below midline Bearish
200 EMA 0.9584 Bearish
Outlook BEARISH
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.9280 0.9310 0.9340 0.9250
DAILY MARKET INSIGHT
20 December 2022
GOLD TREND: NEUTRAL
Gold price continues to consolidate near $1,790 on the daily chart. The sell-off in the U.S.
dollar underpins the demand for the precious metal. The formation of multiple Doji candlestick
suggests the vital support around the mentioned level.
Indicators Daily chart Status
RSI 56 Bullish
STOCHASTIC 41 Bearish
MACD Above midline Bullish
200 EMA $1,709 Bullish
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell $1,790 $1,780 $1,770 $1,800

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Daily Market Insight-20 December.pdf

  • 1. DAILY MARKET INSIGHT 20 December 2022 DAILY MARKET INSIGHT 20 December 2022
  • 2. DAILY MARKET INSIGHT 20 December 2022 Economic Calendar Time Currency News Impact Expectation 01:45 AM NZD Balance of Trade Medium NZ$-1800M 04:00 AM NZD ANZ Business Confidence Medium -52 04:30 AM AUD RBA Meeting Minutes High - 07:00 AM JPY BoJ Interest Rate Decision High -0.1% 11:00 AM CHF Balance of Trade Medium CHF3.2B 05:30 PM CAD Retail Sales MoM Medium 1.5% 05:30 PM USD Building Permits Prel High 1.48M 07:00 PM EURO Consumer Confidence Flash Medium -24.6
  • 3. DAILY MARKET INSIGHT 20 December 2022 AUD/USD TREND: NEUTRAL The AUD/USD pair slipped below 0.6650 reversing its early morning gains. The formation of ‘Tweezer bottom’ indicates a support area around 0.6620. Indicators Daily chart Status RSI 46 Bearish STOCHASTIC 1 Bearish MACD Above midline Bullish 200 EMA 0.6827 Bearish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 0.6650 0.6620 0.6590 0.6680
  • 4. DAILY MARKET INSIGHT 20 December 2022 NZD/USD TREND: NEUTRAL NZD/USD slipped toward 0.6300 on Tuesday. The pair is taking out a key level and printing fresh lows within a bearish sentiment. A stable USD exerts the pressure on risk sensitive Kiwi pair. Indicators Daily chart Status RSI 54 Bullish STOCHASTIC 8 Bearish MACD Above midline Bullish 200 EMA 0.6251 Neutral Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Sell 0.6320 0.6290 0.6260 0.6350
  • 5. DAILY MARKET INSIGHT 20 December 2022 EUR/USD TREND: BULLISH EUR/USD recovery elusive near 1.0600 on the daily chart. The European Central Bank (ECB) policymaker and Germany’s central bank head said that the central bank is still a long way from hitting its inflation goal. Indicators Daily chart Status RSI 63 Bullish STOCHASTIC 57 Bullish MACD Above midline Bullish 200 EMA 1.0469 Bullish Outlook Bullish Strategy Action Entry Target 1 Target 2 Stop Loss Sell 1.0600 1.0570 1.0540 1.0630
  • 6. DAILY MARKET INSIGHT 20 December 2022 GBP/USD TREND: NEUTRAL GBP/USD is taking support near the 200-day EMA on the daily chart. The pair bounced near 1.2120, having paused its three-day bearish momentum. The U.S. dollar stays steady following a tepid market mood. Indicators Daily chart Status RSI 53 Bullish STOCHASTIC 7 Bearish MACD Above midline Bullish 200 EMA 1.2117 Bullish Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Sell 1.2110 1.2080 1.2050 1.2140
  • 7. DAILY MARKET INSIGHT 20 December 2022 USD/JPY TREND: BEARISH USD/JPY extends the sell-off and dropped over 2% after the Bank of Japan (BoJ) hiked its Yield curve control from 0.25% to 0.50% and increased bond-buying. The cash rate held unchanged at -0.10%. 4Indicators Daily chart Status RSI 33 Bearish STOCHASTIC 4 Bearish MACD Below midline Bearish 200 EMA 135.17 Bearish Outlook Bearish Strategy Action Entry Target 1 Target 2 Stop Loss Buy 133.10 133.40 133.70 132.80
  • 8. DAILY MARKET INSIGHT 20 December 2022 USD/CAD TREND: NEUTRAL USD/CAD faces the resistance near the horizontal zone of 1.3680-1.3700 for the past few sessions. Recovery in oil price strengthen the Lonnie but the gains were limited. Indicators Daily chart Status RSI 57 Bullish STOCHASTIC 91 Bullish MACD Below midline Bearish 200 EMA 1.3191 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 1.3700 1.3670 1.3640 1.3730
  • 9. DAILY MARKET INSIGHT 20 December 2022 USD/CHF TREND: BEARISH On the daily chart, the USD/CHF pair manages to take support around 0.9290. After the selling in the previous session the bears seem exhausted. But the upside pressure remains intact. A sideways trade is expected. Indicators Daily chart Status RSI 37 Bearish STOCHASTIC 30 Bearish MACD Below midline Bearish 200 EMA 0.9584 Bearish Outlook BEARISH Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.9280 0.9310 0.9340 0.9250
  • 10. DAILY MARKET INSIGHT 20 December 2022 GOLD TREND: NEUTRAL Gold price continues to consolidate near $1,790 on the daily chart. The sell-off in the U.S. dollar underpins the demand for the precious metal. The formation of multiple Doji candlestick suggests the vital support around the mentioned level. Indicators Daily chart Status RSI 56 Bullish STOCHASTIC 41 Bearish MACD Above midline Bullish 200 EMA $1,709 Bullish Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Sell $1,790 $1,780 $1,770 $1,800