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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 22/11/2022


AUDUSD


Daily volatility: 98 points.

After reaching the support at 0.65840 this morning the aussie is correcting higher but without much enthusiasm. On the other hand, yesterday the hammer heralded a reverse which however according to the oscillator will not last long with a target price at 0.65042 crossing price of the September moving averages in oblique projection.


Today the levels to keep an eye on are:

0.64361, 0.65042 , 0.65466, 0.65840, 066626, 0.67069


XAUUSD


Daily volatility: 19.75$.

After last week in which gold went through a rough patch, yesterday the price saw the clouds for the last time with the sun this morning in the Asian session starting from the localized support at 1731.80. A bullish flag is forming with a daily price target at 1759.55. As always, gold traders are looking at the all-important psychological level of 1800 as water in a desert. Price that is not touched by mid-August. The watershed for now remains yesterday's close as the support/resistance has already been featured several times in the last 6 months.


Today the levels to keep an eye on are:

1615.95, 1654.80, 1681.00, 1705.50, 1731.80, 1745.20, 1750.00, 1759.55


XRPUSD


Daily volatility: +12.4%.

The altcoin's price has been heavily impacted by court proceedings since December 2020. Sentiment for the third-largest altcoin by market cap unlike the cryptocurrency market is strongly bullish as the SEC/Ripple lawsuit continues on a very positive note after attorney Stuart Alderoty stated that the SEC regulator does not have the power to frame XRP as a security and therefore Ripple (the largest public holder of XRP) cannot be accused of unregistered sale of securities. Now the target price has become 0.43748, the high of October 9th. However, XRP must pass through the caudal forks of the important resistance at 0.3522.


Today the levels to keep an eye on are:

0.24477, 0.25748, 0.26237, 0.26781, 0.3593, 0,37277, 0.38155, 0.40370, 0.43748


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