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DAILY MARKET INSIGHT
9 November 2022
DAILY MARKET
INSIGHT
9 November 2022
DAILY MARKET INSIGHT
9 November 2022
Economic Calendar
Time Currency News Impact Expectation
03:00 AM JPY Reuters Tankan Index NOV Medium 5
04:30 AM AUD Building Permits MoM
Final SEP
Medium -5.8%
12:00 PM EUR ECB Non-Monetary Policy
Meeting
Medium -
07:00 PM USD Wholesale Inventories
MoM SEP
Medium 0.8%
DAILY MARKET INSIGHT
9 November 2022
AUD/USD TREND: NEUTRAL
AUD/USD bulls took a breather near 0.6500 on Wednesday. A recovery in the market mood
has trimmed the US dollar appeal. China’s inflation rate reported lower at 2.1% than market
estimates of 2.4%.
Indicators Daily chart Status
RSI 55 Bullish
STOCHASTIC 83 Bullish
MACD Below midline Bearish
200 EMA 0.6864 Bearish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.6490 0.6520 0.6550 0.6460
DAILY MARKET INSIGHT
9 November 2022
NZD/USD TREND: NEUTRAL
NZD/USD pair turned sideways after testing the highs of 0.6001 in the last trading session. A
risk-on mood with a softer greenback led the gains in the Kiwi pair. The momentum oscillator
remains bullish.
Indicators Daily chart Status
RSI 61 Bullish
STOCHASTIC 84 Bullish
MACD Above midline Bullish
200 EMA 0.6242 Bearish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 0.5930 0.5960 0.5990 0.5900
DAILY MARKET INSIGHT
9 November 2022
EUR/USD TREND: NEUTRAL
EUR/USD trades with mild bullishness in the mid of the week, the tone that set at the
beginning of the week. The pair remains side lined around 1.0060 while pausing three-day
uptrend. A broader US dollar weakness aided gains in EUR/USD.
Indicators Daily chart Status
RSI 59 Bullish
STOCHASTIC 91 Bullish
MACD Above midline Bullish
200 EMA 1.0391 Bearish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.0050 1.0080 1.0110 1.0020
DAILY MARKET INSIGHT
9 November 2022
GBP/USD TREND: NEUTRAL
GBP/USD bulls managed to move above 1.1540 once again. There is a struggle between the bulls and
bears amid US election updates and UK PM Sunak’s likely plan to raise top tax rate, and recession
fears.
Indicators Daily chart Status
RSI 55 Bullish
STOCHASTIC 81 Bullish
MACD Above midline Bullish
200 EMA 1.2129 Bearish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy 1.1525 1.1555 1.1585 1.1495
DAILY MARKET INSIGHT
9 November 2022
USD/JPY TREND: NEUTRAL
USD/JPY broke another lower barrier of 146.00 and tested the low of 145.30 in the previous
session. The bulls attempt to pick fresh bid above 145.50. Japan policymakers are in
discussion for an additional budget for economic stimulus and higher taxes for ultra-wealthy
individuals.
4Indicators Daily chart Status
RSI 44 Bearish
STOCHASTIC 6 Bearish
MACD Above midline Bullish
200 EMA 134.24 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 146.00 145.70 145.40 146.30
DAILY MARKET INSIGHT
9 November 2022
USD/CAD TREND: NEUTRAL
USD/CAD looks pressured toward 1.3400, the lowest levels in seven weeks. After breaching
the psychological 1.3500 the pair tested 1.3420 low. More downside could be expected amid
the negative momentum oscillators.
Indicators Daily chart Status
RSI 41 Bearish
STOCHASTIC 12 Bearish
MACD Above midline Bullish
200 EMA 1.3083 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 1.3460 1.3430 1.3400 1.3490
DAILY MARKET INSIGHT
9 November 2022
USD/CHF TREND: NEUTRAL
USD/CHF is expected to observe more downside below 0.9850 as the risk appetite high in
the market. A less hawkish and room for bigger rate hikes by Fed is weighing on the
prospects of the US dollar.
Indicators Daily chart Status
RSI 45 Bearish
STOCHASTIC 9 Bearish
MACD Above midline Bullish
200 EMA 0.9648 Bullish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Sell 0.9880 0.9850 0.9820 0.9910
DAILY MARKET INSIGHT
9 November 2022
GOLD TREND: NEUTRAL
XAU/USD manages to scales toward $1,700 the levels seen on October 10. As the precious
metal has breached the descending trend line with strong green candlestick, the underlying
sentiment is bullish for the time being.
Indicators Daily chart Status
RSI 53 Bullish
STOCHASTIC 86 Bullish
MACD Below midline Bearish
200 EMA $1,758 Bearish
Outlook NEUTRAL
Strategy
Action Entry Target 1 Target 2 Stop Loss
Buy $1,705 $1,715 $1,725 $1,695

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Daily Market Insight-9 November.pdf

  • 1. DAILY MARKET INSIGHT 9 November 2022 DAILY MARKET INSIGHT 9 November 2022
  • 2. DAILY MARKET INSIGHT 9 November 2022 Economic Calendar Time Currency News Impact Expectation 03:00 AM JPY Reuters Tankan Index NOV Medium 5 04:30 AM AUD Building Permits MoM Final SEP Medium -5.8% 12:00 PM EUR ECB Non-Monetary Policy Meeting Medium - 07:00 PM USD Wholesale Inventories MoM SEP Medium 0.8%
  • 3. DAILY MARKET INSIGHT 9 November 2022 AUD/USD TREND: NEUTRAL AUD/USD bulls took a breather near 0.6500 on Wednesday. A recovery in the market mood has trimmed the US dollar appeal. China’s inflation rate reported lower at 2.1% than market estimates of 2.4%. Indicators Daily chart Status RSI 55 Bullish STOCHASTIC 83 Bullish MACD Below midline Bearish 200 EMA 0.6864 Bearish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.6490 0.6520 0.6550 0.6460
  • 4. DAILY MARKET INSIGHT 9 November 2022 NZD/USD TREND: NEUTRAL NZD/USD pair turned sideways after testing the highs of 0.6001 in the last trading session. A risk-on mood with a softer greenback led the gains in the Kiwi pair. The momentum oscillator remains bullish. Indicators Daily chart Status RSI 61 Bullish STOCHASTIC 84 Bullish MACD Above midline Bullish 200 EMA 0.6242 Bearish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Buy 0.5930 0.5960 0.5990 0.5900
  • 5. DAILY MARKET INSIGHT 9 November 2022 EUR/USD TREND: NEUTRAL EUR/USD trades with mild bullishness in the mid of the week, the tone that set at the beginning of the week. The pair remains side lined around 1.0060 while pausing three-day uptrend. A broader US dollar weakness aided gains in EUR/USD. Indicators Daily chart Status RSI 59 Bullish STOCHASTIC 91 Bullish MACD Above midline Bullish 200 EMA 1.0391 Bearish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Buy 1.0050 1.0080 1.0110 1.0020
  • 6. DAILY MARKET INSIGHT 9 November 2022 GBP/USD TREND: NEUTRAL GBP/USD bulls managed to move above 1.1540 once again. There is a struggle between the bulls and bears amid US election updates and UK PM Sunak’s likely plan to raise top tax rate, and recession fears. Indicators Daily chart Status RSI 55 Bullish STOCHASTIC 81 Bullish MACD Above midline Bullish 200 EMA 1.2129 Bearish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Buy 1.1525 1.1555 1.1585 1.1495
  • 7. DAILY MARKET INSIGHT 9 November 2022 USD/JPY TREND: NEUTRAL USD/JPY broke another lower barrier of 146.00 and tested the low of 145.30 in the previous session. The bulls attempt to pick fresh bid above 145.50. Japan policymakers are in discussion for an additional budget for economic stimulus and higher taxes for ultra-wealthy individuals. 4Indicators Daily chart Status RSI 44 Bearish STOCHASTIC 6 Bearish MACD Above midline Bullish 200 EMA 134.24 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 146.00 145.70 145.40 146.30
  • 8. DAILY MARKET INSIGHT 9 November 2022 USD/CAD TREND: NEUTRAL USD/CAD looks pressured toward 1.3400, the lowest levels in seven weeks. After breaching the psychological 1.3500 the pair tested 1.3420 low. More downside could be expected amid the negative momentum oscillators. Indicators Daily chart Status RSI 41 Bearish STOCHASTIC 12 Bearish MACD Above midline Bullish 200 EMA 1.3083 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 1.3460 1.3430 1.3400 1.3490
  • 9. DAILY MARKET INSIGHT 9 November 2022 USD/CHF TREND: NEUTRAL USD/CHF is expected to observe more downside below 0.9850 as the risk appetite high in the market. A less hawkish and room for bigger rate hikes by Fed is weighing on the prospects of the US dollar. Indicators Daily chart Status RSI 45 Bearish STOCHASTIC 9 Bearish MACD Above midline Bullish 200 EMA 0.9648 Bullish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Sell 0.9880 0.9850 0.9820 0.9910
  • 10. DAILY MARKET INSIGHT 9 November 2022 GOLD TREND: NEUTRAL XAU/USD manages to scales toward $1,700 the levels seen on October 10. As the precious metal has breached the descending trend line with strong green candlestick, the underlying sentiment is bullish for the time being. Indicators Daily chart Status RSI 53 Bullish STOCHASTIC 86 Bullish MACD Below midline Bearish 200 EMA $1,758 Bearish Outlook NEUTRAL Strategy Action Entry Target 1 Target 2 Stop Loss Buy $1,705 $1,715 $1,725 $1,695