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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 06/12/2022


GBPUSD

GBPUSD has been in a continuous uptrend since September 26th. From a short term view we can clearly see the valid trend line.

We may see a correction up to the trend line and an upward move around the 261.8 Fibonacci level.

If the price fails to bounce back and break the below trend line, we may see a big decline around the 1.16536 level.



DJI

DJI manages to reach the 34249.76 level again but without strong signs of breaking it. A good sign is the falling RSI momentum and the upward movement of the price.

However, we may see a drop down to the 61.8 Fibonacci level.

If the price breaks above this strong resistance, we may see the price continue upwards towards the level around 36000 which is the next strong resistance.


NZDUSD

NZDUSD has been in an uptrend since October 11th, in the medium term it managed to form an ascending channel with the price having already tested the upper limit of the channel.

If the price respects the channel again, we may see a drop to the lower limit of the channel.

If the price reacts to the support level at 0.62871, we may again see an upward move to the upper limit of the channel.




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