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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 14/12/2022

EURUSD

EURUSD has been bullish since September and yesterday managed to break above the 1.06 level with a solid bullish candle.

Now we may again see a correction wave up to the 1.06 level and then a move up.

If the price fails and breaks below 1.06, we may see the price fluctuate for a bit longer between these two levels of 1.06 and 1.044.



AUDNZD

AUDNZD has formed a healthy and valid trend line since last month.

Now the price is close to the trend line and the upper level of the shorter range as you can see the candles are starting to show some weakness but RSI indicator is still on bullish readings at 62.

Taking all this into consideration, we may see price respect the trendline and drop.

If the price breaks above the trend line, we need to wait until a reversal pattern appears.


NZDUSD

NZDUSD has been trading in an uptrend for the past few months, the chart shows no sign of reversing anytime soon.

Now we may see a correction until trendline or around 0.62893 level.

If the price breaks below 0.62893, we should expect a confirmation of a directional pattern.


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