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DAILY MARKET INSIGHT
28 November 2022
DAILY MARKET
INSIGHT
28 November 2022
DAILY MARKET INSIGHT
28 November 2022
Economic Calendar
Time Currency News Impact Expectation
04:30 AM AUD Retail Sales MoM Prel OCT Medium -1.4%
03:00 PM GBP CBI Distributive
Trades NOV
Medium -7
05:30 PM CAD Current Account Q3 Medium C$2.1B
07:30 PM USD Dallas Fed Manufacturing
Index NOV
Medium -7
DAILY MARKET INSIGHT
28 November 2022
AUD/USD TREND: NEUTRAL
AUD/USD declines on Monday meeting the support near 0.6690-0.6700 horizontal resistance
zone. The Australian dollar losses the momentum largely due to U.S dollar advancement. The
pair is weighed by the weaker Australian Retail sales data.
Indicators Daily chart Status
RSI 56 Bullish
STOCHASTIC 53 Bullish
MACD Above midline Bullish
200 EMA 0.6987 Bearish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 0.6690 0.6660 0.6630 0.6720
DAILY MARKET INSIGHT
28 November 2022
NZD/USD TREND: NEUTRAL
NZD/USD bulls took breather near 0.6210 in the past week and continues to roll down. The
U.S dollar index rose above 106.00 on Monday partially due to the unrest in China owing to
strict restrictions due to rising cases of Covid-19.
Indicators Daily chart Status
RSI 65 Bullish
STOCHASTIC 74 Bullish
MACD Above midline Bullish
200 EMA 0.6231 Neutral
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.6210 0.6180 0.6150 0.6240
DAILY MARKET INSIGHT
28 November 2022
EUR/USD TREND: NEUTRAL
EUR/USD trades on a muted note in a light economic calendar on Monday. The pair is in
consolidation phase for the past few sessions. The 1.0460 mark remains a tough nut to
crack for the bulls.
Indicators Daily chart Status
RSI 61 Bullish
STOCHASTIC 61 Bullish
MACD Above midline Bullish
200 EMA 1.0384 Neutral
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 1.0360 1.0330 1.0300 1.0390
DAILY MARKET INSIGHT
28 November 2022
GBP/USD TREND: NEUTRAL
GBP/USD is under the bears influence as the new trading week begins. The pair remains
pressured below the critical 200-day moving average as the bulls failed to cross the hurdle. A
recovery in the USD led the downside momentum.
Indicators Daily chart Status
RSI 63 Bullish
STOCHASTIC 80 Bullish
MACD Above midline Bullish
200 EMA 1.2102 Neutral
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 1.2070 1.2040 1.2010 1.2100
DAILY MARKET INSIGHT
28 November 2022
USD/JPY TREND: NEUTRAL
USD/JPY struggles near 138.50 on Monday amid risk-off flows continues. Despite a pullback
in the greenback the pair continues to slide down following the remarks of Japanese Prime
Minister Fumio Kishida to collaborate with Bank of Japan (BoJ) to achieve long-term stable
inflation.
4Indicators Daily chart Status
RSI 35 Bearish
STOCHASTIC 17 Bearish
MACD Below midline Bearish
200 EMA 135.03 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 138.30 138.60 138.90 138.00
DAILY MARKET INSIGHT
28 November 2022
USD/CAD TREND: NEUTRAL
USD/CAD is trading with positive bias and extends the recovery of the previous session. The
Canadian dollar is the weakest performing currency among G-10 currencies. More gains if the
pair closes above 1.3450 on the daily basis.
Indicators Daily chart Status
RSI 50 Bullish
STOCHASTIC 79 Bullish
MACD Below midline Bearish
200 EMA 1.3120 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.3420 1.3450 1.3480 1.3390
DAILY MARKET INSIGHT
28 November 2022
USD/CHF TREND: BEARISH
On the daily chart, the USD/CHF pair successfully took the support around 0.9388. The bulls
managed to defend 0.9450 on Monday and attempts to advance toward 0.9500 mark.
However, a range bound trading session is anticipated with mild bullish bias.
Indicators Daily chart Status
RSI 37 Bearish
STOCHASTIC 33 Bearish
MACD Below midline Bearish
200 EMA 0.9624 Bearish
Outlook BEARISH
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.9440 0.9470 0.9500 0.9410
DAILY MARKET INSIGHT
28 November 2022
GOLD TREND: NEUTRAL
Gold started the new trading week on a muted note pausing the gains incurred in the previous
week. The 200-day EMA acts a strong upside barricade for the price. Demand in U.S dollar
arises due to strict Covid restrictions in China.
Indicators Daily chart Status
RSI 59 Bullish
STOCHASTIC 39 Bearish
MACD Above midline Bullish
200 EMA $1,758 Bearish
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell $1,750 $1,740 $1,730 $1,760

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Daily Market Insight-28 November (1).pdf

  • 1. DAILY MARKET INSIGHT 28 November 2022 DAILY MARKET INSIGHT 28 November 2022
  • 2. DAILY MARKET INSIGHT 28 November 2022 Economic Calendar Time Currency News Impact Expectation 04:30 AM AUD Retail Sales MoM Prel OCT Medium -1.4% 03:00 PM GBP CBI Distributive Trades NOV Medium -7 05:30 PM CAD Current Account Q3 Medium C$2.1B 07:30 PM USD Dallas Fed Manufacturing Index NOV Medium -7
  • 3. DAILY MARKET INSIGHT 28 November 2022 AUD/USD TREND: NEUTRAL AUD/USD declines on Monday meeting the support near 0.6690-0.6700 horizontal resistance zone. The Australian dollar losses the momentum largely due to U.S dollar advancement. The pair is weighed by the weaker Australian Retail sales data. Indicators Daily chart Status RSI 56 Bullish STOCHASTIC 53 Bullish MACD Above midline Bullish 200 EMA 0.6987 Bearish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 0.6690 0.6660 0.6630 0.6720
  • 4. DAILY MARKET INSIGHT 28 November 2022 NZD/USD TREND: NEUTRAL NZD/USD bulls took breather near 0.6210 in the past week and continues to roll down. The U.S dollar index rose above 106.00 on Monday partially due to the unrest in China owing to strict restrictions due to rising cases of Covid-19. Indicators Daily chart Status RSI 65 Bullish STOCHASTIC 74 Bullish MACD Above midline Bullish 200 EMA 0.6231 Neutral Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.6210 0.6180 0.6150 0.6240
  • 5. DAILY MARKET INSIGHT 28 November 2022 EUR/USD TREND: NEUTRAL EUR/USD trades on a muted note in a light economic calendar on Monday. The pair is in consolidation phase for the past few sessions. The 1.0460 mark remains a tough nut to crack for the bulls. Indicators Daily chart Status RSI 61 Bullish STOCHASTIC 61 Bullish MACD Above midline Bullish 200 EMA 1.0384 Neutral Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Sell 1.0360 1.0330 1.0300 1.0390
  • 6. DAILY MARKET INSIGHT 28 November 2022 GBP/USD TREND: NEUTRAL GBP/USD is under the bears influence as the new trading week begins. The pair remains pressured below the critical 200-day moving average as the bulls failed to cross the hurdle. A recovery in the USD led the downside momentum. Indicators Daily chart Status RSI 63 Bullish STOCHASTIC 80 Bullish MACD Above midline Bullish 200 EMA 1.2102 Neutral Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Sell 1.2070 1.2040 1.2010 1.2100
  • 7. DAILY MARKET INSIGHT 28 November 2022 USD/JPY TREND: NEUTRAL USD/JPY struggles near 138.50 on Monday amid risk-off flows continues. Despite a pullback in the greenback the pair continues to slide down following the remarks of Japanese Prime Minister Fumio Kishida to collaborate with Bank of Japan (BoJ) to achieve long-term stable inflation. 4Indicators Daily chart Status RSI 35 Bearish STOCHASTIC 17 Bearish MACD Below midline Bearish 200 EMA 135.03 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Buy 138.30 138.60 138.90 138.00
  • 8. DAILY MARKET INSIGHT 28 November 2022 USD/CAD TREND: NEUTRAL USD/CAD is trading with positive bias and extends the recovery of the previous session. The Canadian dollar is the weakest performing currency among G-10 currencies. More gains if the pair closes above 1.3450 on the daily basis. Indicators Daily chart Status RSI 50 Bullish STOCHASTIC 79 Bullish MACD Below midline Bearish 200 EMA 1.3120 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Buy 1.3420 1.3450 1.3480 1.3390
  • 9. DAILY MARKET INSIGHT 28 November 2022 USD/CHF TREND: BEARISH On the daily chart, the USD/CHF pair successfully took the support around 0.9388. The bulls managed to defend 0.9450 on Monday and attempts to advance toward 0.9500 mark. However, a range bound trading session is anticipated with mild bullish bias. Indicators Daily chart Status RSI 37 Bearish STOCHASTIC 33 Bearish MACD Below midline Bearish 200 EMA 0.9624 Bearish Outlook BEARISH Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.9440 0.9470 0.9500 0.9410
  • 10. DAILY MARKET INSIGHT 28 November 2022 GOLD TREND: NEUTRAL Gold started the new trading week on a muted note pausing the gains incurred in the previous week. The 200-day EMA acts a strong upside barricade for the price. Demand in U.S dollar arises due to strict Covid restrictions in China. Indicators Daily chart Status RSI 59 Bullish STOCHASTIC 39 Bearish MACD Above midline Bullish 200 EMA $1,758 Bearish Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Sell $1,750 $1,740 $1,730 $1,760