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DAILY MARKET INSIGHT
29 November 2022
DAILY MARKET
INSIGHT
29 November 2022
DAILY MARKET INSIGHT
29 November 2022
Economic Calendar
Time Currency News Impact Expectation
03:30 AM JPY Unemployment Rate OCT Medium 2.6%
03:50 AM JPY Retail Sales MoM OCT Medium 0.7%
12:00 PM CHF GDP Growth Rate QoQ Q3 Medium 0.1%
01:30 PM GBP BoE Consumer Credit OCT Medium GBP0.81B
02:00 PM EUR Economic Sentiment NOV Medium 92.9
05:30 PM CAD GDP Growth Rate QoQ Q3 High 0.4%
06:00 PM USD S&P/Case-Shiller Home Price
YoY SEP
Medium 11%
07:00 PM USD CB Consumer Confidence NOV Medium 103
DAILY MARKET INSIGHT
29 November 2022
AUD/USD TREND: NEUTRAL
AUD/USD advances on Tuesday and claims the 0.6700 mark. The Australian dollar gains the
momentum largely due to U.S dollar weakness. The improved risk-appetite after Chinese
marshals took over protests from individuals against Covid-19 lockdown.
Indicators Daily chart Status
RSI 56 Bullish
STOCHASTIC 53 Bullish
MACD Above midline Bullish
200 EMA 0.6839 Bearish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 0.6720 0.6690 0.6660 0.6750
DAILY MARKET INSIGHT
29 November 2022
NZD/USD TREND: NEUTRAL
NZD/USD bucks two-day downtrend and trades above 0.6200 mark. The pair pays a little
heed to the downbeat economic forecasts from the New Zealand Institute of Economic
Research (NZIER) amid cautious optimism in the market.
Indicators Daily chart Status
RSI 62 Bullish
STOCHASTIC 63 Bullish
MACD Above midline Bullish
200 EMA 0.6230 Neutral
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.6210 0.6240 0.6270 0.6180
DAILY MARKET INSIGHT
29 November 2022
EUR/USD TREND: NEUTRAL
EUR/USD trades on a muted note after retreating from the high of 1.0496 yesterday. The
pair hovers near the critical 200-day moving average. A weaker U.S dollar could strengthen
the positioning of the pair.
Indicators Daily chart Status
RSI 62 Bullish
STOCHASTIC 58 Bullish
MACD Above midline Bullish
200 EMA 1.0384 Neutral
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 1.0400 1.0370 1.0340 1.0430
DAILY MARKET INSIGHT
29 November 2022
GBP/USD TREND: NEUTRAL
GBP/USD trades with modest gains on Tuesday. The pair tested the low of 1.1940 in the
previous session but recovered the losses amid a pullback in the USD. Mixed U.S Fed tone
led the gains in the pair.
Indicators Daily chart Status
RSI 60 Bullish
STOCHASTIC 66 Bullish
MACD Above midline Bullish
200 EMA 1.2099 Neutral
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 1.2020 1.1990 1.1960 1.2050
DAILY MARKET INSIGHT
29 November 2022
USD/JPY TREND: NEUTRAL
USD/JPY struggles below 138.50 on Tuesday amid risk-off flows continues. The mentioned
level is a short-term horizontal support zone that could provide interim relief to the downside
momentum in the spot.
4Indicators Daily chart Status
RSI 35 Bearish
STOCHASTIC 23 Bearish
MACD Below midline Bearish
200 EMA 135.06 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 138.30 138.60 138.90 138.00
DAILY MARKET INSIGHT
29 November 2022
USD/CAD TREND: NEUTRAL
USD/CAD remains pressured near 1.3500 mark. The Canadian dollar performed weak against
the U.S dollar due to weaker oil prices and domestic economic data. However, an across the
board selling in the greenback limits the gain.
Indicators Daily chart Status
RSI 49 Bearish
STOCHASTIC 75 Bullish
MACD Below midline Bearish
200 EMA 1.3124 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.3420 1.3450 1.3480 1.3390
DAILY MARKET INSIGHT
29 November 2022
USD/CHF TREND: BEARISH
USD/CHF retreats from the session’s high of $0.9501 in the Asian session. A softer U.S
dollar in the wake of risk-on mood drag the pair lower. The 0.9400 mark would be a critical
stoppage for USD/CHF.
Indicators Daily chart Status
RSI 38 Bearish
STOCHASTIC 48 Bearish
MACD Below midline Bearish
200 EMA 0.9624 Bearish
Outlook BEARISH
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 0.9460 0.9430 0.9400 0.9490
DAILY MARKET INSIGHT
29 November 2022
GOLD TREND: NEUTRAL
Despite a retreat in the U.S dollar, the precious metal continues to struggle near $1,750. After
rising toward $1,760 the metal dropped to test the low of $1,740. We expect a range of $1,740-
$1,760 in the short term.
Indicators Daily chart Status
RSI 58 Bullish
STOCHASTIC 38 Bearish
MACD Above midline Bullish
200 EMA $1,758 Bearish
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell $1,760 $1,750 $1,740 $1,770

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Daily Market Insight-29 November.pdf

  • 1. DAILY MARKET INSIGHT 29 November 2022 DAILY MARKET INSIGHT 29 November 2022
  • 2. DAILY MARKET INSIGHT 29 November 2022 Economic Calendar Time Currency News Impact Expectation 03:30 AM JPY Unemployment Rate OCT Medium 2.6% 03:50 AM JPY Retail Sales MoM OCT Medium 0.7% 12:00 PM CHF GDP Growth Rate QoQ Q3 Medium 0.1% 01:30 PM GBP BoE Consumer Credit OCT Medium GBP0.81B 02:00 PM EUR Economic Sentiment NOV Medium 92.9 05:30 PM CAD GDP Growth Rate QoQ Q3 High 0.4% 06:00 PM USD S&P/Case-Shiller Home Price YoY SEP Medium 11% 07:00 PM USD CB Consumer Confidence NOV Medium 103
  • 3. DAILY MARKET INSIGHT 29 November 2022 AUD/USD TREND: NEUTRAL AUD/USD advances on Tuesday and claims the 0.6700 mark. The Australian dollar gains the momentum largely due to U.S dollar weakness. The improved risk-appetite after Chinese marshals took over protests from individuals against Covid-19 lockdown. Indicators Daily chart Status RSI 56 Bullish STOCHASTIC 53 Bullish MACD Above midline Bullish 200 EMA 0.6839 Bearish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 0.6720 0.6690 0.6660 0.6750
  • 4. DAILY MARKET INSIGHT 29 November 2022 NZD/USD TREND: NEUTRAL NZD/USD bucks two-day downtrend and trades above 0.6200 mark. The pair pays a little heed to the downbeat economic forecasts from the New Zealand Institute of Economic Research (NZIER) amid cautious optimism in the market. Indicators Daily chart Status RSI 62 Bullish STOCHASTIC 63 Bullish MACD Above midline Bullish 200 EMA 0.6230 Neutral Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.6210 0.6240 0.6270 0.6180
  • 5. DAILY MARKET INSIGHT 29 November 2022 EUR/USD TREND: NEUTRAL EUR/USD trades on a muted note after retreating from the high of 1.0496 yesterday. The pair hovers near the critical 200-day moving average. A weaker U.S dollar could strengthen the positioning of the pair. Indicators Daily chart Status RSI 62 Bullish STOCHASTIC 58 Bullish MACD Above midline Bullish 200 EMA 1.0384 Neutral Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Sell 1.0400 1.0370 1.0340 1.0430
  • 6. DAILY MARKET INSIGHT 29 November 2022 GBP/USD TREND: NEUTRAL GBP/USD trades with modest gains on Tuesday. The pair tested the low of 1.1940 in the previous session but recovered the losses amid a pullback in the USD. Mixed U.S Fed tone led the gains in the pair. Indicators Daily chart Status RSI 60 Bullish STOCHASTIC 66 Bullish MACD Above midline Bullish 200 EMA 1.2099 Neutral Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Sell 1.2020 1.1990 1.1960 1.2050
  • 7. DAILY MARKET INSIGHT 29 November 2022 USD/JPY TREND: NEUTRAL USD/JPY struggles below 138.50 on Tuesday amid risk-off flows continues. The mentioned level is a short-term horizontal support zone that could provide interim relief to the downside momentum in the spot. 4Indicators Daily chart Status RSI 35 Bearish STOCHASTIC 23 Bearish MACD Below midline Bearish 200 EMA 135.06 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 29 November 2022 USD/CAD TREND: NEUTRAL USD/CAD remains pressured near 1.3500 mark. The Canadian dollar performed weak against the U.S dollar due to weaker oil prices and domestic economic data. However, an across the board selling in the greenback limits the gain. Indicators Daily chart Status RSI 49 Bearish STOCHASTIC 75 Bullish MACD Below midline Bearish 200 EMA 1.3124 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 29 November 2022 USD/CHF TREND: BEARISH USD/CHF retreats from the session’s high of $0.9501 in the Asian session. A softer U.S dollar in the wake of risk-on mood drag the pair lower. The 0.9400 mark would be a critical stoppage for USD/CHF. Indicators Daily chart Status RSI 38 Bearish STOCHASTIC 48 Bearish MACD Below midline Bearish 200 EMA 0.9624 Bearish Outlook BEARISH Strategy Action Entry Target 1 Target 2 Stop Loss Sell 0.9460 0.9430 0.9400 0.9490
  • 10. DAILY MARKET INSIGHT 29 November 2022 GOLD TREND: NEUTRAL Despite a retreat in the U.S dollar, the precious metal continues to struggle near $1,750. After rising toward $1,760 the metal dropped to test the low of $1,740. We expect a range of $1,740- $1,760 in the short term. Indicators Daily chart Status RSI 58 Bullish STOCHASTIC 38 Bearish MACD Above midline Bullish 200 EMA $1,758 Bearish Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Sell $1,760 $1,750 $1,740 $1,770