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<b> MARKET</b> ANALYSIS <b> MARKET</b> ANALYSIS

MARKET ANALYSIS

Cutting-Edge Market Commentary for Informed Strategy Making

DAILY TECHNICAL ANALYSIS 12/07/2022


EURUSD

An update to the previous analysis, EURUSD failed to find support at 1.01228 level, moved and break the next level at 1.00612. Investor now must be focus on these levels because we are less than a penny away to reach parity. From technical point of veiw the price now seems to retest again that level 1.00612.


WTI

WTI has formed a tentative trendline since the end of the last month. Today the price broke the R1 level with a solid red candle (red Marubozu), now is under 100 dollars with an RSI on oversold condition. If the WTI continue with same momentum we might see the prices drop around S1 or even lower. If the price breaks above the trendline we migh see the end of this bearish momentum.



XAUUSD

An update on the previous analysis, gold seems to be finding support at 1732.176 level with no signs to break below. The RSI is slightly below equilibrium which is a sign of no momentum behind the price. Investors should focus in this situation of a sudden movement to be expected without any specific direction.



USDJPY

USDJPY has an uptrend for the last 6 days, from a technical point of view the price seems to losing momentum just to retrace until S2 or trendline. If the price fails to bounce back from S1 level and break below we might see the price move further to the downside. If the price manages to bounce back we might see the price return to R1 levels.




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