Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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

MARKET ANALYSIS

Cutting-Edge Market Commentary for Informed Strategy Making

DAILY TECHNICAL ANALYSIS 21/11/2022


EURUSD


Daily volatility 82 points. On Friday the pair did not move much less than the previous days. The movement has lateralized all day. Turning to events, European Central Bank President Christine Lagarde said the central bank is ready to raise the rate further with a potential economic slowdown to reduce inflation. So no news from Madame and therefore no reaction to her speech occurred. From a graphical point of view it is clear that EURUSD failed to exit the horizontal channel 1.03967 and 1.03076. The pair has been trending for the past few months, probably the flat hour has come even though the volatility hasn't been affected during the week. For this start of the week, the downward movement seems the most probable.


Today the levels to keep an eye on are:

1.0094, 1.0131, 1.0185, 1.0249, 1.03076, 1.0362, 1.0388, 1.03967, 1.0452, 1,0549




GBPUSD


Daily volatility 92 points. GBP/USD is within a sharp horizontal channel between 1.17096 and 1.19598. Although Friday's retail sales report came in slightly better than expected, the pound was flat all day. From a technical point of view the GBP has good upside possibilities even if from a fundamental point of view there is nothing to cheer about. The price bounced off the 1.18718 level during the US trading session after which it managed to move up 70 pips. During the first day of the week, a downtrend is likely while remaining within the horizontal channel for most of the week.


Today the levels to keep an eye on are:

1.1465, 1.1631, 1.17096, 1.1831, 1.1932, 1.19598, -1.2035, 1.2104, 1.2197


USDJPY


Daily volatility 86 points. The USD/JPY pair remained in a horizontal channel between 139.647 and 140.731 on Friday, failing the daily price target of 141.022. The pair continues to rise from today's Asian session. After surpassing 141.022 and perhaps boldly touching the November 10 high of 142,478, the yen could fall in the evening with a target price below 139,647. The oscillators are neutral for now after the accumulation of the last 2 days of last week.


Today the levels to keep an eye on are:

138.333, 138.711, 139.220, 139.647, 140.057, 140.731, 140.878, 141.022, 141.486, 142.176, 142.478




DEPOSIT METHODS

Deposit Methods 1
Deposit Methods 2
Deposit Methods 3
Deposit Methods 4
Deposit Methods 5

Copyright © 2023 - All rights reserved.

SohoMarkets (Cyprus) is a Trade name of Vstar & Soho Markets Ltd which is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 409/22.

RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Vstar & Soho Markets Ltd. provides services to residents of the European Economic Area (excluding Belgium), Switzerland, India, Indonesia, Malaysia, Philippines and Vietnam.

CLIENT AGREEMENT (TERMS AND CONDITIONS) CLIENT CATEGORISATION POLICY Complaints or Grievances Policy Conflicts of Interest Policy Cookie Policy Investor Compensation Fund Key Information Document COMMODITIES CFD Key Information Document CRYPTOCURRENCIES CFD Key Information Document FX CURRENCIES CFD Key Information Document INDICES CFD Key Information Document ENERGY CFD Key Information Document METALS CFD Key Information Document STOCKS CFD Order Execution Policy Privacy Policy Risk Disclosure