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DAILY MARKET INSIGHT
30 November 2022
DAILY MARKET
INSIGHT
30 November 2022
DAILY MARKET INSIGHT
30 November 2022
Economic Calendar
Time Currency News Impact Expectation
01:45 AM NZD Building Permits MoM OCT Medium -3.6%
03:50 AM JPY Industrial Production MoM
Prel OCT
Medium -3.6%
04:00 AM NZD ANZ Business Confidence NOV Medium -38
04:30 AM AUD Building Permits MoM Prel
OCT
Medium -1.6%
09:00 AM JPY Housing Starts YoY OCT Medium -3%
12:00 PM EUR ECB Non-Monetary Policy
Meeting
High -
12:00 PM CHF KOF Leading Indicators NOV Medium 90.5
02:00 PM EUR Inflation Rate YoY Flash NOV High 10.3%
05:15 PM USD ADP Employment Change NOV High 198K
05:30 PM USD GDP Growth Rate QoQ 2nd
Est
Q3
High 2.6%
07:00 PM USD JOLTs Job Openings OCT High 10.4M
DAILY MARKET INSIGHT
30 November 2022
AUD/USD TREND: NEUTRAL
AUD/USD trades with modest gains amid cautious market mood. Pick up in gold prices and
ease of China’s covid conditions of virus-led activity boost the optimism. Still, the upside is
captured near 0.6720.
Indicators Daily chart Status
RSI 56 Bullish
STOCHASTIC 55 Bullish
MACD Above midline Bullish
200 EMA 0.6841 Bearish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.6680 0.6710 0.6740 0.6650
DAILY MARKET INSIGHT
30 November 2022
NZD/USD TREND: NEUTRAL
NZD/USD continues to move north despite small hiccups in between. The pair managed to
hold above 0.6220 on Wednesday. A daily close above the 0.6250 level would strengthen the
prospects of further gains.
Indicators Daily chart Status
RSI 64 Bullish
STOCHASTIC 78 Bullish
MACD Above midline Bullish
200 EMA 0.6231 Neutral
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.6220 0.6250 0.6280 0.6180
DAILY MARKET INSIGHT
30 November 2022
EUR/USD TREND: NEUTRAL
EUR/USD trades with modest gains after dropping toward 1.0320 in the early session on
Wednesday. The shared currency expected to trade sideways ahead of the key U.S and
Eurozone data. Further, Fed Chair Jerome Powell speech is also awaited.
Indicators Daily chart Status
RSI 60 Bullish
STOCHASTIC 57 Bullish
MACD Above midline Bullish
200 EMA 1.0384 Bearish
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.0345 1.0375 1.0405 1.0315
DAILY MARKET INSIGHT
30 November 2022
GBP/USD TREND: NEUTRAL
GBP/USD picks up the momentum near 1.9990 on Wednesday. Following the remarks of
Bank of England (BoE) Governor Andrew Bailey about growth and inflation the spot find signs
of relief. Still, the 200-day moving average remains a tough hurdle to take out.
Indicators Daily chart Status
RSI 60 Bullish
STOCHASTIC 67 Bullish
MACD Above midline Bullish
200 EMA 1.2100 Bearish
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.1980 1.2010 1.2040 1.1950
DAILY MARKET INSIGHT
30 November 2022
USD/JPY TREND: NEUTRAL
USD/JPY continues to struggles near 138.50 amid a weaker U.S dollar. The mentioned level
is a short-term horizontal support zone that could provide interim relief to the downside
momentum in the spot. Traders keep eyes on U.S ADP Employment and Q3 GDP data to take
trading cues.
4Indicators Daily chart Status
RSI 35 Bearish
STOCHASTIC 20 Bearish
MACD Below midline Bearish
200 EMA 135.00 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 138.60 138.30 138.00 138.90
DAILY MARKET INSIGHT
30 November 2022
USD/CAD TREND: NEUTRAL
USD/CAD took breather near 1.3600 as the oil prices recovers on Wednesday. The WTI prices
cheers hopes of more demand from China, the largest importer of the commodity. In addition,
the OPEC members announced output cut. A range bound price action is expected.
Indicators Daily chart Status
RSI 56 Bullish
STOCHASTIC 80 Bullish
MACD Below midline Bearish
200 EMA 1.3124 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 1.3580 1.3550 1.3530 1.3610
DAILY MARKET INSIGHT
30 November 2022
USD/CHF TREND: BEARISH
USD/CHF retreats from the session’s high of 0.9548 in the Asian session. A softer U.S dollar
in the wake of risk-on mood drag the pair lower. The retracement indicates lack of strength
among bulls. If the price slips below 0.9500 more losses on the cards could be expected.
Indicators Daily chart Status
RSI 41 Bearish
STOCHASTIC 50 Bearish
MACD Below midline Bearish
200 EMA 0.9624 Bearish
Outlook BEARISH
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 0.9540 0.9510 0.9480 0.9570
DAILY MARKET INSIGHT
30 November 2022
GOLD TREND: NEUTRAL
Gold prices gains traction on Wednesday as it struggles near the 200-day EMA. However,
traders might avoid aggressive bids ahead of the U.S Fed Chair Powell speech. A softer U.S
Treasury bonds yields add shine to the non-yielding asset.
Indicators Daily chart Status
RSI 60 Bullish
STOCHASTIC 46 Bearish
MACD Above midline Bullish
200 EMA $1,758 Bearish
Outlook Neutral
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy $1,750 $1,760 $1,770 $1,740

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Daily Market Insight-30 November.pdf

  • 1. DAILY MARKET INSIGHT 30 November 2022 DAILY MARKET INSIGHT 30 November 2022
  • 2. DAILY MARKET INSIGHT 30 November 2022 Economic Calendar Time Currency News Impact Expectation 01:45 AM NZD Building Permits MoM OCT Medium -3.6% 03:50 AM JPY Industrial Production MoM Prel OCT Medium -3.6% 04:00 AM NZD ANZ Business Confidence NOV Medium -38 04:30 AM AUD Building Permits MoM Prel OCT Medium -1.6% 09:00 AM JPY Housing Starts YoY OCT Medium -3% 12:00 PM EUR ECB Non-Monetary Policy Meeting High - 12:00 PM CHF KOF Leading Indicators NOV Medium 90.5 02:00 PM EUR Inflation Rate YoY Flash NOV High 10.3% 05:15 PM USD ADP Employment Change NOV High 198K 05:30 PM USD GDP Growth Rate QoQ 2nd Est Q3 High 2.6% 07:00 PM USD JOLTs Job Openings OCT High 10.4M
  • 3. DAILY MARKET INSIGHT 30 November 2022 AUD/USD TREND: NEUTRAL AUD/USD trades with modest gains amid cautious market mood. Pick up in gold prices and ease of China’s covid conditions of virus-led activity boost the optimism. Still, the upside is captured near 0.6720. Indicators Daily chart Status RSI 56 Bullish STOCHASTIC 55 Bullish MACD Above midline Bullish 200 EMA 0.6841 Bearish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.6680 0.6710 0.6740 0.6650
  • 4. DAILY MARKET INSIGHT 30 November 2022 NZD/USD TREND: NEUTRAL NZD/USD continues to move north despite small hiccups in between. The pair managed to hold above 0.6220 on Wednesday. A daily close above the 0.6250 level would strengthen the prospects of further gains. Indicators Daily chart Status RSI 64 Bullish STOCHASTIC 78 Bullish MACD Above midline Bullish 200 EMA 0.6231 Neutral Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.6220 0.6250 0.6280 0.6180
  • 5. DAILY MARKET INSIGHT 30 November 2022 EUR/USD TREND: NEUTRAL EUR/USD trades with modest gains after dropping toward 1.0320 in the early session on Wednesday. The shared currency expected to trade sideways ahead of the key U.S and Eurozone data. Further, Fed Chair Jerome Powell speech is also awaited. Indicators Daily chart Status RSI 60 Bullish STOCHASTIC 57 Bullish MACD Above midline Bullish 200 EMA 1.0384 Bearish Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Buy 1.0345 1.0375 1.0405 1.0315
  • 6. DAILY MARKET INSIGHT 30 November 2022 GBP/USD TREND: NEUTRAL GBP/USD picks up the momentum near 1.9990 on Wednesday. Following the remarks of Bank of England (BoE) Governor Andrew Bailey about growth and inflation the spot find signs of relief. Still, the 200-day moving average remains a tough hurdle to take out. Indicators Daily chart Status RSI 60 Bullish STOCHASTIC 67 Bullish MACD Above midline Bullish 200 EMA 1.2100 Bearish Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Buy 1.1980 1.2010 1.2040 1.1950
  • 7. DAILY MARKET INSIGHT 30 November 2022 USD/JPY TREND: NEUTRAL USD/JPY continues to struggles near 138.50 amid a weaker U.S dollar. The mentioned level is a short-term horizontal support zone that could provide interim relief to the downside momentum in the spot. Traders keep eyes on U.S ADP Employment and Q3 GDP data to take trading cues. 4Indicators Daily chart Status RSI 35 Bearish STOCHASTIC 20 Bearish MACD Below midline Bearish 200 EMA 135.00 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 138.60 138.30 138.00 138.90
  • 8. DAILY MARKET INSIGHT 30 November 2022 USD/CAD TREND: NEUTRAL USD/CAD took breather near 1.3600 as the oil prices recovers on Wednesday. The WTI prices cheers hopes of more demand from China, the largest importer of the commodity. In addition, the OPEC members announced output cut. A range bound price action is expected. Indicators Daily chart Status RSI 56 Bullish STOCHASTIC 80 Bullish MACD Below midline Bearish 200 EMA 1.3124 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 1.3580 1.3550 1.3530 1.3610
  • 9. DAILY MARKET INSIGHT 30 November 2022 USD/CHF TREND: BEARISH USD/CHF retreats from the session’s high of 0.9548 in the Asian session. A softer U.S dollar in the wake of risk-on mood drag the pair lower. The retracement indicates lack of strength among bulls. If the price slips below 0.9500 more losses on the cards could be expected. Indicators Daily chart Status RSI 41 Bearish STOCHASTIC 50 Bearish MACD Below midline Bearish 200 EMA 0.9624 Bearish Outlook BEARISH Strategy Action Entry Target 1 Target 2 Stop Loss Sell 0.9540 0.9510 0.9480 0.9570
  • 10. DAILY MARKET INSIGHT 30 November 2022 GOLD TREND: NEUTRAL Gold prices gains traction on Wednesday as it struggles near the 200-day EMA. However, traders might avoid aggressive bids ahead of the U.S Fed Chair Powell speech. A softer U.S Treasury bonds yields add shine to the non-yielding asset. Indicators Daily chart Status RSI 60 Bullish STOCHASTIC 46 Bearish MACD Above midline Bullish 200 EMA $1,758 Bearish Outlook Neutral Strategy Action Entry Target 1 Target 2 Stop Loss Buy $1,750 $1,760 $1,770 $1,740