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DAILY MARKET INSIGHT
1 December 2022
DAILY MARKET
INSIGHT
1 December 2022
DAILY MARKET INSIGHT
1 December 2022
Economic Calendar
Time Currency News Impact Expectation
01:30 AM AUD Ai Group Manufacturing Index
NOV
Medium 50
02:00 AM AUD S&P Global Manufacturing PMI
Final NOV
Medium 51.5
04:30 AM JPY Jibun Bank Manufacturing PMI
Final NOV
Medium 49.4
09:00 AM JPY Consumer Confidence NOV High 29.1
10:00 AM JPY BoJ Kuroda Speech High -
11:30 AM CHF Inflation Rate YoY NOV Medium 2.9%
12:00 PM EUR ECB General Council Meeting Medium -
02:00 PM EUR Unemployment Rate OCT High 6.9%
05:30 PM USD Personal Spending MoM OCT High 0.6%
05:30 PM USD PCE Price Index MoM OCT Medium 0.3%
07:00 PM USD ISM Manufacturing PMI NOV High 50
DAILY MARKET INSIGHT
1 December 2022
AUD/USD TREND: NEUTRAL
AUD/USD manages to sustain above the 0.6800 mark extending the gains incurred in the
previous session. The Aussie gains on the unexpected increase in Chinese Caixin
Manufacturing PMI data. The bulls are approaching the 200-day EMA with conviction.
Indicators Daily chart Status
RSI 62 Bullish
STOCHASTIC 95 Bullish
MACD Above midline Bullish
200 EMA 0.6841 Bearish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.6810 0.6840 0.6870 0.6780
DAILY MARKET INSIGHT
1 December 2022
NZD/USD TREND: BULLISH
NZD/USD stepped above the crucial 200-day moving average signalling the bullish trend. The
pair trades highest level since mid-August led by the broad-based U.S dollar weakness and
risk-on mood. A move toward 0.6450 is expected next.
Indicators Daily chart Status
RSI 69 Bullish
STOCHASTIC 98 Bullish
MACD Above midline Bullish
200 EMA 0.6232 Bullish
Outlook Bullish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.6330 0.6360 0.6390 0.6300
DAILY MARKET INSIGHT
1 December 2022
EUR/USD TREND: BULLISH
EUR/USD refreshes multi-day high above 1.0420 propelled by the weakness in USD.
Traders await the key Eurozone and U.S economic data. The pair trades in a very limited
price action but with a positive bias.
Indicators Daily chart Status
RSI 64 Bullish
STOCHASTIC 75 Bullish
MACD Above midline Bullish
200 EMA 1.0385 Bullish
Outlook Bullish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.0440 1.0470 1.0500 1.0410
DAILY MARKET INSIGHT
1 December 2022
GBP/USD TREND: BULLISH
On the daily chart, the GBP/USD pair trades below the 1.2100 as hovers near the 200-day
moving average. The British Pound rose above 1.2080 following a weakness in the greenback.
A strong buying pressure could see 1.2200 in the short term.
Indicators Daily chart Status
RSI 62 Bullish
STOCHASTIC 85 Bullish
MACD Above midline Bullish
200 EMA 1.2101 Bullish
Outlook Bullish
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.2100 1.2130 1.2160 1.2070
DAILY MARKET INSIGHT
1 December 2022
USD/JPY TREND: NEUTRAL
USD/JPY drops toward 136.50 as refreshes multi-day low amid downbeat Treasury bond
yields. In the recent Fed Chair Powell speech hints a slower rate hikes as a ripple effect the
greenback and bond yields drowned. The pair is expected to test the critical moving average.
4Indicators Daily chart Status
RSI 30 Bearish
STOCHASTIC 4 Bearish
MACD Below midline Bearish
200 EMA 135.01 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 136.40 136.10 135.80 136.70
DAILY MARKET INSIGHT
1 December 2022
USD/CAD TREND: NEUTRAL
The Canadian dollar remains the weakest currency among G-10 currencies. The USD/CAD
pair pares intraday losses near 1.3425 as the Canadian’s main export item WTI crude oil
remains downbeat.
Indicators Daily chart Status
RSI 48 Bearish
STOCHASTIC 46 Bearish
MACD Below midline Bearish
200 EMA 1.3126 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 1.3420 1.3390 1.3360 1.3450
DAILY MARKET INSIGHT
1 December 2022
USD/CHF TREND: BEARISH
USD/CHF fell nearly 100-pip in the previous session and tested the horizontal support zone
near 0.9420. There are multiple support levels around the mentioned level. An increased
risk-appetite downplays USD.
Indicators Daily chart Status
RSI 37 Bearish
STOCHASTIC 30 Bearish
MACD Below midline Bearish
200 EMA 0.9622 Bearish
Outlook BEARISH
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 0.9435 0.9405 0.9375 0.9465
DAILY MARKET INSIGHT
1 December 2022
GOLD TREND: NEUTRAL
XAU/USD finally breach the 200-day moving average once again with strong buying
momentum. The price is just a tad below the $1,800 mark ahead of the U.S PCE inflation. A
less hawkish Fed plays the key role. We hold a bullish bias in the yellow metal in the coming
sessions.
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 $1,775 $1,785 $1,795 $1,765

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Daily Market Insight-1 December.pdf

  • 1. DAILY MARKET INSIGHT 1 December 2022 DAILY MARKET INSIGHT 1 December 2022
  • 2. DAILY MARKET INSIGHT 1 December 2022 Economic Calendar Time Currency News Impact Expectation 01:30 AM AUD Ai Group Manufacturing Index NOV Medium 50 02:00 AM AUD S&P Global Manufacturing PMI Final NOV Medium 51.5 04:30 AM JPY Jibun Bank Manufacturing PMI Final NOV Medium 49.4 09:00 AM JPY Consumer Confidence NOV High 29.1 10:00 AM JPY BoJ Kuroda Speech High - 11:30 AM CHF Inflation Rate YoY NOV Medium 2.9% 12:00 PM EUR ECB General Council Meeting Medium - 02:00 PM EUR Unemployment Rate OCT High 6.9% 05:30 PM USD Personal Spending MoM OCT High 0.6% 05:30 PM USD PCE Price Index MoM OCT Medium 0.3% 07:00 PM USD ISM Manufacturing PMI NOV High 50
  • 3. DAILY MARKET INSIGHT 1 December 2022 AUD/USD TREND: NEUTRAL AUD/USD manages to sustain above the 0.6800 mark extending the gains incurred in the previous session. The Aussie gains on the unexpected increase in Chinese Caixin Manufacturing PMI data. The bulls are approaching the 200-day EMA with conviction. Indicators Daily chart Status RSI 62 Bullish STOCHASTIC 95 Bullish MACD Above midline Bullish 200 EMA 0.6841 Bearish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.6810 0.6840 0.6870 0.6780
  • 4. DAILY MARKET INSIGHT 1 December 2022 NZD/USD TREND: BULLISH NZD/USD stepped above the crucial 200-day moving average signalling the bullish trend. The pair trades highest level since mid-August led by the broad-based U.S dollar weakness and risk-on mood. A move toward 0.6450 is expected next. Indicators Daily chart Status RSI 69 Bullish STOCHASTIC 98 Bullish MACD Above midline Bullish 200 EMA 0.6232 Bullish Outlook Bullish Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.6330 0.6360 0.6390 0.6300
  • 5. DAILY MARKET INSIGHT 1 December 2022 EUR/USD TREND: BULLISH EUR/USD refreshes multi-day high above 1.0420 propelled by the weakness in USD. Traders await the key Eurozone and U.S economic data. The pair trades in a very limited price action but with a positive bias. Indicators Daily chart Status RSI 64 Bullish STOCHASTIC 75 Bullish MACD Above midline Bullish 200 EMA 1.0385 Bullish Outlook Bullish Strategy Action Entry Target 1 Target 2 Stop Loss Buy 1.0440 1.0470 1.0500 1.0410
  • 6. DAILY MARKET INSIGHT 1 December 2022 GBP/USD TREND: BULLISH On the daily chart, the GBP/USD pair trades below the 1.2100 as hovers near the 200-day moving average. The British Pound rose above 1.2080 following a weakness in the greenback. A strong buying pressure could see 1.2200 in the short term. Indicators Daily chart Status RSI 62 Bullish STOCHASTIC 85 Bullish MACD Above midline Bullish 200 EMA 1.2101 Bullish Outlook Bullish Strategy Action Entry Target 1 Target 2 Stop Loss Buy 1.2100 1.2130 1.2160 1.2070
  • 7. DAILY MARKET INSIGHT 1 December 2022 USD/JPY TREND: NEUTRAL USD/JPY drops toward 136.50 as refreshes multi-day low amid downbeat Treasury bond yields. In the recent Fed Chair Powell speech hints a slower rate hikes as a ripple effect the greenback and bond yields drowned. The pair is expected to test the critical moving average. 4Indicators Daily chart Status RSI 30 Bearish STOCHASTIC 4 Bearish MACD Below midline Bearish 200 EMA 135.01 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 136.40 136.10 135.80 136.70
  • 8. DAILY MARKET INSIGHT 1 December 2022 USD/CAD TREND: NEUTRAL The Canadian dollar remains the weakest currency among G-10 currencies. The USD/CAD pair pares intraday losses near 1.3425 as the Canadian’s main export item WTI crude oil remains downbeat. Indicators Daily chart Status RSI 48 Bearish STOCHASTIC 46 Bearish MACD Below midline Bearish 200 EMA 1.3126 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 1.3420 1.3390 1.3360 1.3450
  • 9. DAILY MARKET INSIGHT 1 December 2022 USD/CHF TREND: BEARISH USD/CHF fell nearly 100-pip in the previous session and tested the horizontal support zone near 0.9420. There are multiple support levels around the mentioned level. An increased risk-appetite downplays USD. Indicators Daily chart Status RSI 37 Bearish STOCHASTIC 30 Bearish MACD Below midline Bearish 200 EMA 0.9622 Bearish Outlook BEARISH Strategy Action Entry Target 1 Target 2 Stop Loss Sell 0.9435 0.9405 0.9375 0.9465
  • 10. DAILY MARKET INSIGHT 1 December 2022 GOLD TREND: NEUTRAL XAU/USD finally breach the 200-day moving average once again with strong buying momentum. The price is just a tad below the $1,800 mark ahead of the U.S PCE inflation. A less hawkish Fed plays the key role. We hold a bullish bias in the yellow metal in the coming sessions. 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 $1,775 $1,785 $1,795 $1,765