Daily Trading Analysis 20.12.2022

Technical & Fundamental analysis

Trading Analysis of NZD/USD NZD/USD has been chipping away at the downside in Asia, sliding to a fresh session low at the time of writing, down 0.35% on the day so far after dropping from a high of 0.6365. The US Dollar has been struggling to break higher which had been giving the commodity complex some room to breathe but the tables are turning. Our Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6314 Take Profit 1: 0.6565 Take Profit 2: 0.6800 Alternative scenario: If the level 0.6130 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6130 Take Profit 1: 0.5850 Take Profit 2: 0.5630 Learn More Trading Analysis of EUR/USD EUR/USD remains indecisive around 1.0600, after the latest whipsaw, as it retreats from an intraday high during early Tuesday morning in Europe. The major currency pair’s latest moves could be linked to the US Dollar’s zigzag amid mixed concerns and a light calendar. Our Analysis: While the price is above 1.0300, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0583 Take Profit 1: 1.0660 Take Profit 2: 1.0800 Alternative scenario: If the level 1.0300 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0300 Take Profit 1: 1.0150 Take Profit 2: 1.0000 Learn More Fundamental Trading Analysis of ExxonMobil ExxonMobil stock has soared 50% since the start of 2020, compared to a 22% gain in the S&P 500, and is up 72% YoY. Our Analysis: As long as the price is above 102.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 105.10 Take Profit 1: 108.00 Take Profit 2: 114.00 Alternative scenario: If the level of 102.00 is broken-down, follow the recommendations below:          Time frame: D1 Recommendation: short position Entry point: 102.20 Take Profit 1: 97.00 Take Profit 2: 92.00 Learn More Risk Warning: Forex and CFD trading carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with CFD trading before deciding to trade. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.

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