Home Forex Ichimoku Market Technical Analysis – November 23, 2022

Ichimoku Market Technical Analysis – November 23, 2022

by SuperiorInvest

Stock markets ended the session higher yesterday, with gains in various sectors such as basic materials, oil and gas and technology contributing to the move. The NASDAQ and S&P500 both closed 1.36% and Dow Jones he was awake 1.18%. Volatility index (VIX), which measures the volatility of the S&P500 index, fell 4.79% on 21.29, a new 3-month low. This return to optimism caused the fall of the safe haven dollar s USDIndex is losing 0.63% on 107.05.

Market participants are looking forward to the release of the minutes of the Fed meeting today. Investors expect more 0.5 increase in the base interest rate in December. The US central bank raised rates by 0.75 base points four times in a row for the first time in history! If this monetary policy had been adopted at the last meeting in December, it would have been seen as a positive signal for markets, which had been worried that the Fed would go too far and lead to a recession.

source: cmegroup

USDIndex, Daily

The USDIndex is currently trading at 106.79, under his Kijun (Lv) and Tenkan (Lj) clouds; the lag spread (Lb) is below the clouds and below its peers, which clearly means it is in bearish momentum. On the other hand, if the price goes back up, it could reach 107.67 and then Kijun at 109.50.

US100, daily

US100 is currently in its cloud at 11,716, between his Kijun (Lv) and Tenkan (Lj); the lag span (Lb) is below its counterparts, but under the cloud, signifying hesitant momentum. If there is a bullish move, the price could reach 11,840 and then 12,088. On the other hand, if the price goes back down, it could reach 11,355 and then 11,057.

$500, daily

The US500 is currently above its cloud, its Kijun (Lv) and its Tenkan (Lj) at 4,011; the lag span (Lb) is below its counterparts, but below the cloud, which means a moment of hesitation. If there is a bullish move, the price could reach 4,050 and then 4.106. On the other hand, if the price starts to fall again, it could reach 3.923 and then 3,857.

US30, daily

US30 is currently above its cloud, its Kijun (Lv) and Tenkan (Lj) level 34,128; the lagging spread (Lb) is above its peers and the cloud clearly indicates bullish momentum; the price could reach 34,288 then 34,589. On the other hand, if the price goes back down, it could reach 33,972 and then 33,364.

EURUSD, daily

The EURUSD he is currently above his cloud, his Kijun (Lv) and his Tenkan (Lj) level 1.0323; the lag span (Lb) is above the cloud and clearly signifies the upward moment; the price could reach 1.0485 then 1.0571. On the other hand, if the price starts to fall again, it could reach 1.0162 and then head for parity (1.0000).

USDJPY, daily

The USDJPY is currently in its cloud at 141.34; between his Kijun (Lv) and Tenkan (Lj); the lag span (Lb) is below its counterparts but above the cloud, indicating hesitant momentum. If there is a bullish move, the price could reach 143.50 and then 144.80 at the Kijun level. On the other hand, if the price starts to fall again, it can reach 140.80 and then 138.30.

GBPUSD, daily

The GBPUSD he is currently above his cloud, his Kijun (Lv) and his Tenkan (Lj) level 1.1888; lagging Span (Lb) is above its peers and the cloud clearly marks the upward momentum. Price could reach double resistance at the level 1.2000 and 1.2027. On the other hand, if the price starts to fall again, it could reach 1.8360 and then at the Kijun level 1.1543.

USOIL, Daily

The USOIL the price is currently at the level $81.60 under his cloud his Kijun (Lv) and his Tenkan (Lj); the lagging spread (Lb) is under cloud and its counterparts clearly imply that it is in bearish momentum. This decline could lead the price to the lowest level at $77.50 if it is broken, and it could then reach its support level $75.27. On the other hand, if the price rises again, it could reach double resistance at the level $84.50 – $84.90.

XAUUSD, Daily

Price XAUUSD is currently above his cloud, between his Kijun (Lv) and Tenkan (Lj) u 1738 dollars level; lagging Span (Lb) is above its peers, but also in the cloud, implying hesitant momentum. If there is a bullish move, the price could reach 1748 dollars and then 1762 dollars. On the other hand, if the price goes back down, it could reach 1701 dollars and then 1675 dollars.

BTCUSD, daily

The BTCUSD the price is currently at $16,528 the level below his Kijun (Lv) and Tenkan (Lj) clouds; the trailing spread (Lb) is under cloud and its peers, which clearly means it is in bearish momentum. This pullback could take the price to a new low at $15,428 if broken, and could then reach its support in place $14,000 level. On the other hand, if the price goes up again, it could reach $18,354.

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Kader Djellouli

Market analyst

Disclaimer: This material is provided as general marketing communication for informational purposes only and does not constitute independent investment research. Nothing in this communication contains or should be considered to contain investment advice or an investment recommendation or a solicitation to buy or sell any financial instrument. All information provided is collected from reputable sources and any information containing an indication of past performance is not a guarantee or a reliable indicator of future performance. Users acknowledge that any investment in leveraged products is characterized by a degree of uncertainty and that any investment of this nature involves a high level of risk for which users are solely responsible and liable. We shall not be liable for any loss arising from any investment made based on the information provided in this communication. This communication may not be reproduced or redistributed without our prior written consent.

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