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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 19/12/2022

GBPUSD

GBPUSD an update to the previous analysis, cable has mange to make a healthy correction until 1.21341. As you can see on that price found enough support to stay there for 10 four hours  candlesticks.
If the price break below that level, that means the trendline offical broke and we will try to get short trades.
If the price recovers and breaks above 1.2429, it means that the price will continue the upward movements for a while.


USDCHF

USDCHF formed a bottom ata December 13-14.
Price now breaks above 0.92998 with rising RSI, bullish momentum is starting to take control.
Now the price seems to have a correction at this level and near the trend line.
We may see the price bounce back up to around 0.93798.
If the price fails and breaks below this level, it means that we may see the price swing below this level for a little longer.


DXY

DXY is still falling at a steady pace, we have several signs that will continue to fall for a while, a straight bearish EMA and an RSI stack below 50. Not good signs for the USD.




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