Daily Analysis Forex Mix

[radex78]

USDCAD extends losses as Canadian CPI data comes in higher than forecast

Yesterday's USDCAD pair price drew a bearish candle with a long body continuing the previous bears candle. Price formed a high of 1.40358, a low of 1.39542 and close at 1.39548 near the middle band line.

Canada released CPI data on Tuesday showing higher-than-expected inflation. The actual data of the CPI report showed that headline inflation rose to 2%, faster than expectations of 1.9% and from 1.6% in September. Monthly headline inflation rose 0.4%, at the same pace as price pressures slowed in the previous month. Economists forecast monthly headline CPI to grow 0.3%.

Faster-than-expected inflation data may weigh on the BoC to cut rates more than usual, but Canadian employment data may be another consideration for easing, Canada's Unemployment Rate was at 6.5% in October, much higher than needed to maintain full employment level.

The Dollar Index (DXY) which tracks the USD currency is now down -0.4% at 106.187. Next, investors will wait for the Fed's next steps at the December meeting, with predictions that the Fed will cut interest rates 25 basis points to 4.25%-4.50% next month according to FedWatch tool data from the CME group.

Today investors are waiting for the UK CPI data, although it does not have a direct impact on the Canadian Dollar, but the correlation between currencies allows for an impact. It is estimated that the UK CPI will rise 2.2% from the previous 1.7%.

USDCAD D1

USDCAD price on the daily timeframe is now moving near the middle band line which may be the first support of the pair's decline. Bollinger bands draw an ascending channel with slightly deflated bands indicating an uptrend with reduced volatility.

MA 50 below the lower band draws an upward channel indicating an uptrend market. MA 200 below the lower band drawing a flat channel indicates a sideways market.

The VB High TDI indicator shows a value of 76 and VB Low shows a value of 55. The difference of 21 reflects the low volatility value in the daily timeframe.

Market Base Line points to a value of 66 with an upward channel, meaning the weight of bullish is greater than bearish.

The RSI Price Line shows a value of 56 with a descending channel crossing the MBL and TSL from the upper side indicating a downtrend market.

Trade Signal Line points to a value of 63 with a flat channel indicating a sideways market.

USDCAD H4

USDCAD price in the H4 timeframe is now moving outside near the lower band line. Bollinger bands draw a descending channel with expanding band spacing indicating a downtrend with high volatility.

The 50 MA is slightly above the price drawing an upward channel indicating an uptrend, but the price has crossed the 50 MA from the upper side indicating a downtrend. The 200 MA is far below the price drawing an upward channel, indicating a market uptrend.

The VB High TDI indicator shows a value of 81 and VB Low shows a value of 40. The difference of 41 reflects high volatility in the H4 timeframe.

Market Base Line points to a value of 60 with a descending channel, meaning the weight of bearish is greater than bullish.

The RSI Price Line shows a value of 33 with a descending channel crossing the MBL and TSL from the upper side indicating a downtrend market.

Trade Signal Line pointing to the value 42 with a descending channel crossing the MBL from the upper side indicates a downtrend market.

 

[radex78]

Silver failed to continue its increase, the price dropped after the market formed a Doji candle

Silver price drew a Doji candle on November 19 indicating an indecision market. The next day the price of Silver drops and draws a bearish candle. Price formed a high of 31,326 and a low of 30,767 and closed at 30,825.

Here there are differences in market patterns compared to gold. The price of gold appears to be trending upward for three consecutive days drawing a bull candle, in contrast to Silver which drew a bearish candle in the last candle.

It seems that the escalation of the Ukrainian and Russian wars is weighing on Silver because of the pessimistic outlook for Silver's use in industry. Tensions increased further after Joe Biden allowed Ukraine to use US-made long-range weapons to attack Russia. On the other hand, Russia changed its nuclear doctrine to relax the conditions for responding with nuclear weapons which could trigger the Armageddon war.

On the other hand, the lack of stimulus from the Chinese government caused demand for Silver from the solar panel industry to decline and weighed on Silver prices. Another report said Chinese-owned solar panel companies began reducing production as Trump's election victory raised the prospect of higher tariffs on the sector.

XAGUSD D1

Silver prices on the daily timeframe are now moving between the middle band and lower band line. Bollinger bands draw a descending channel with wide band spacing indicating a bearish trend.

The 50 MA draws an upward channel above the price indicating an uptrend, but the price below the MA line indicates a downtrend. MA 200 below the lower band draws an upward channel indicating an uptrend market.

The VB High TDI indicator shows a value of 69 and VB Low shows a value of 36. The difference of 33 reflects the volatility value in the daily timeframe.

Market Base Line points to a value of 53 with a descending channel, meaning the weight of bullish is greater than bearish.

The RSI Price Line is pointing at 44 with a flat channel crossing the TSL from the downside indicating a weakening uptrend.

Trade Signal Line shows a value of 41 with a flat channel indicating a sideways market.

XAGUSD H4

Silver price in the H4 timeframe is now moving near the middle band line. Bollinger bands draw an ascending channel with deflating band spacing indicating an uptrend with downward volatility.

The 50 MA below the price forms a descending channel indicating a downtrend, but the price above the MA line indicates an uptrend. MA 200 above the upper band draws a flat channel indicating a sideways market.

The VB High TDI indicator shows a value of 66 and VB Low shows a value of 32. The difference of 34 reflects the volatility value in the H4 timeframe.

Market Base Line points to a value of 49 with an upward channel, meaning the weight of bearish is greater than bullish.

The RSI Price Line is pointing at 49 with a descending channel crossing the TSL from the upside indicating a downtrend.

Trade Signal Line points to a value of 53 with a downward channel indicating a market downtrend.

 

[radex78]

GBPUSD fell amid market expectations of a dovish Fed ease

GBPUSD yesterday drew a bearish candle continuing the previous day's decline. Price formed a high of 1.26594, a low of 1.25755, and closed at 1.25881. This decline further widens the distance between the Bollinger bands, indicating high market volatility.

The Pound Sterling's decline may have been triggered by traders' doubts about whether the Bank of England (BoE) will cut interest rates again at its December meeting considering that the UK Consumer Price Index (CPI) for October on Wednesday showed that price pressures were increasing faster than expected. According to Forexfactory UK CPI rose 2.3% from expected 2.2% and previous data revision of 1.7%. Meanwhile, the Monetary Policy Committee (MPC) projects inflation at 2.4% and 2.5% in November and December respectively.

Another pressure from the strengthening of the USD, the dollar index (DXY) today rose 0.38% from 106,461 to a high of 107,156 continuing the previous day's rise. On the other hand, investors are starting to reduce their forecasts for the Fed to lower interest rates at its December meeting because US President Donald Trump's inflationary, growth-oriented trade policy is predicted to lead to more gradual policy easing. According to the CME group's Fedwatch Tool, the possibility of the Fed lowering interest rates by 25 basis points of 56.1% and the possibility of interest rates remaining unchanged is 43.9%.

Boston Fed Bank President Susan Collins expressed the need to gradually push monetary policy towards a neutral range from the current restrictive state. While the US Unemployment Claims data was lower than expected which was also the reason for the strengthening of the USD, the actual data was 213k from the forecast of 220k and previous data of 219k.

Today, investors will focus on UK retail sales and PMI data which will be released today.

GBPUSD D1

The GBPUSD pair on the daily timeframe is now moving near the lower band line. Here Bollinger bands draw a downward channel with wide band spacing indicating a downtrend with a high volatility market.

MA 50 below the upper band draws a descending channel indicating a downtrend. MA 200 near the middle band line draws a flat channel indicating a sideways market

The VB High TDI indicator points to 46 and the VB Low points to 29. The difference of 17 reflects the low volatility value in the daily timeframe.

Market Base Line points to a value of 38 with a descending channel, meaning the weight of bearish is greater than bullish.

The RSI Price Line points to a value of 30 with a descending channel indicating a downtrend has entered the oversold zone level.

Trade Signal Line points to the value 32 drawing a descending channel indicating a market downtrend.

GBPUSD H4

The GBPUSD pair in the H4 timeframe is now moving near the lower band line. Bollinger bands draw a flat channel with the bands starting to expand indicating a sideways market with a possible increase in volatility.

MA 50 below the upper band line draws a descending channel indicating a downtrend. The 200 MA is far above the 50 MA drawing a descending channel indicating a market downtrend.

The VB High TDI indicator shows a value of 51 and VB Low shows a value of 23. The difference of 28 reflects the value of moderate volatility in the H4 timeframe.

Market Base Line points to a value of 37 with an upward channel, meaning the weight of bearish is greater than bullish.

The RSI Price Line shows a value of 32 with a descending channel crossing the MBL from the upper side indicating a downtrend market.

Trade Signal Line points to a value of 38 with a downward channel indicating a market downtrend.

 

[radex78]

NZDUSD decline reached 0.58160 before RBNZ interest rate decision

The New Zealand Dollar (NZD) experienced three consecutive days of decline last week. At the weekend the price drew a bearish candle with a high of 0.58602, a low of 0.58160, and a close at 0.58295.

Some of the reasons for the NZD's decline are due to the USD's overall strong performance amid expectations that the Fed will follow a gradual rate cut path. This forecast has been triggered by President Trump's protectionist policy of imposing import tariffs which could trigger inflation.

Deutsche Bank analysts estimate that the Fed will maintain interest rates above 4% throughout 2025 because the import tariff policy is likely to encourage growth of 2.5% next year and cause inflation above 2.5% until 2026.

According to the CME group's FedWatch tool, the probability of the Fed cutting interest rates by 25 basis points is 52.7% and the probability of interest rates remaining unchanged is 47.3% in December.

On the other hand, the RBNZ is predicted to cut interest rates by 50 basis points on Thursday from 4.75% to 4.25%. This forecast is the reason that the prospect of a decline in NZDUSD is still possible.

NZDUSD D1

Monday's market for the NZDUSD pair gapped up with the open price at 0.58522 far above the previous close price of 0.58295. The price is now moving near the lower band line. Bollinger bands draw a descending channel with wide band spacing indicating a downtrend with high volatility.

The 50 MA draws a descending channel near the upper band line crossing the 200 MA from the upside confirming the dead cross signal. MA 200 with a flat channel near the upper band line indicates a sideways market.

The VB High TDI indicator shows a value of 42 and VB Low shows a value of 29. The difference of 13 reflects the low volatility value in the daily timeframe.

Market Base Line shows the value 36 with a descending channel, meaning the weight of bearish is greater than bullish.

The RSI Price Line points to a value of 34 with a descending channel crossing the MBL and TSL from the upper side indicating a downtrend market near the oversold level.

Trade Signal Line points to a value of 36 with a downward channel indicating a market downtrend.

NZDUSD H4

NZDUSD price is now moving below the middle band line. The gap is more clearly visible in this time frame where the open candle jumps from the previous candle. Here the Bollinger bands draw a downward channel with wide band spacing indicating high market volatility.

The 50 MA near the middle band draws a descending channel indicating a downtrend market. The 200 MA is far above the upper band drawing a descending channel indicating a market downtrend.

The VB High TDI indicator shows a value of 57 and VB Low shows a value of 30. The difference of 27 reflects the volatility value in the H4 timeframe.

Market Base Line points to a value of 43 with an upward channel, meaning the weight of bearish is greater than bullish.

The RSI Price Line shows a value of 39 with an upward channel crossing the TSL from the lower side indicating an uptrend market.

Trade Signal Line points to the value 26 with the channel starting to rise indicating a trend transition.

 

[radex78]

Scott Bessent was chosen by Trump to be Minister of Finance, the price of gold dropped more than $30

Yesterday's gold price fell from a high of $2721 to a low of $2615. Price drew a bearish long-body candle close at $2625. The gold price has crossed the middle band and MA 50 from the upside.

The decline in gold prices was in line with the news that US President Donald Trump chose Scott Bessent at the weekend as Minister of Finance in his next cabinet. Bessent is an experienced Wall Street professional and is seen as a safe bet by the market, thereby reducing safe-haven flows into Gold. Investors appear to think that Scott Bessent can ease some concerns about Trump's fiscal plan. It is hoped that Scott Bessent can reduce the budget deficit by 3% by 2028.

On the other hand, it is predicted that the Fed will reduce interest rates more slowly because of Trump's policies which could cause inflation. The CME FedWatch Tool assesses the probability of a 25 basis point (bp) rate cut by the Fed at its December 18 meeting at 56.1%. Probability 43.9% interest rate unchanged. The Dollar Index (DXY) is now at 106.913, down 0.54% from 107.940 which was previously at 108.071.

Meanwhile gold gets support from geopolitical risks due to fears of the outbreak of World War 3 after several NATO countries allowed Ukraine to use their weapons to target Russia.

Today investors' focus will be on the US CB Consumer Confidence news release which is predicted to rise to 111.8 from the previous 108.7.

XAUUSD D1

The price of gold on the daily timeframe is now moving between the middle band and lower band line. The price managed to break the middle band from the upside after gold's five consecutive days of gains. Bollinger bands draw a descending channel with wide band spacing indicating a downtrend with high volatility.

MA 50 near the middle band draws an upward channel indicating an uptrend market. The 200 MA is far below the lower band drawing an upward channel indicating an uptrend market.

The VB High TDI indicator shows a value of 76 and VB Low shows a value of 35. The difference of 41 reflects the high volatility value in the daily timeframe.

Market Base Line points to a value of 56 with a descending channel, meaning the weight of bullish is greater than bearish.

RSI Price Line is pointing at 52 with a curved channel to the downside indicating a downtrend.

Trade Signal Line points to a value of 46 with an upward channel indicating an uptrend market.

XAUUSD H4

Gold price in the H4 timeframe is now moving near the lower band line and MA 50. Bollinger bands draw an upward channel with wide bands indicating an uptrend with high volatility.

The 50 MA is near the price and the lower band drawing a flat channel indicates a sideways market. MA 200 near the middle band line drawing a flat channel indicates a sideways market.

The VB High TDI indicator shows a value of 78 and VB Low shows a value of 46. The difference of 32 reflects the high volatility value in the H4 timeframe.

Market Base Line points to a value of 62 with an upward channel, meaning the weight of bullish is greater than bearish.

The RSI Price Line shows a value of 38 with a downward channel indicating a market downtrend.

The Trade Signal Line pointing to the value 51 draws a downward channel crossing the MBL from the upper side indicating a downtrend market.

 

[radex78]

Trump's tariff threats caused the Canadian dollar to fluctuate

USDCAD yesterday drew a long-axis bullish candlestick with a high of 1.4177, a low of 1.39799, and a close at 1.40547. The bullish candle that is formed depicts prices rising high and then facing drastic downward pressure to form a long wick. The weakening of the Canadian dollar even broke out the upper band line and left the line.

Previously USDCAD was trading in the price range of 1.39267 - 1.40177, but after Trump threatened that he would impose 25% tariffs on Canadian and Mexican imports, this has made the Canadian dollar weaken very dramatically. Trump's policy of attacking neighboring countries is predicted to reduce Canadian imports and reduce demand for buying Canadian dollars. Trump even threatened to impose an additional 10% on Chinese imports above 60%, this is predicted to greatly reduce Chinese imports, although it will likely increase inflation.

On the other hand, according to US Energy Information Bureau (EIA) data, the US is 52% dependent on Canadian crude oil, thus raising doubts about the potential negative political policy impact of Trump's tariff threats. Trump's move is expected to increase the price of goods and inflation in the US, which in turn will allow the Fed to slow down interest rate cuts more gradually. However, market projections that the Fed will probably cut interest rates by 25 basis points in December have not changed much. According to the CME group's FedWatch tool, there is a 62.8% chance that the Fed will cut interest rates by 25 basis points and a 37.2% chance that the Fed will leave interest rates unchanged.

Meanwhile, the BoC is predicted to cut interest rates by 25 basis points in December because growth is starting to pick up. The BoC in October lowered interest rates by 50 basis points from 4.25% to 3.75%.

USDCAD D1

USDCAD price is now moving below the upper band line. Bollinger bands draw an ascending channel with wide bands indicating bullish sentiment with high volatility.

MA 50 below the lower band draws an upward channel indicating an uptrend market. The 200 MA below the 50 MA draws a slight upward channel indicating a market uptrend.

The VB High TDI indicator shows a value of 78 and VB Low shows a value of 55. The difference of 23 reflects the volatility value in the daily timeframe.

Market Base Line shows a value of 66 with a flat channel, meaning the weight of bullish is greater than bearish.

The RSI Price Line is pointing at the value 64 drawing an ascending channel crossing the TSL from the lower side indicating an uptrend market.

Trade Signal Line points to a value of 59 with a flat channel indicating a sideways market.

USDCAD H4

USDSCAD price in the H4 timeframe moves between the upper and middle band lines. Expanding Bollinger bands indicate high volatility.

MA 50 near the middle band line drawing a slight upward channel indicates a market uptrend. MA 200 near the lower band line draws an ascending channel indicating an uptrend market.

The VB High TDI indicator shows a value of 64 and VB Low shows a value of 29. The difference of 35 reflects the volatility value in the H4 timeframe.

Market Base Line points to a value of 47 with an upward channel, meaning the weight of bearish is greater than bullish.

The RSI Price Line shows a value of 55 with a descending channel crossing the TSL from the upper side indicating a downtrend market.

Trade Signal Line points to a value of 64 with a flat channel indicating a sideways market.

 

[radex78]

Waiting for German inflation data EURUSD price is drawing a bulls candle

Yesterday the EURUSD pair drew a bulls candle and broke the previous high forming a high of 1.05871, low of 1.04738 close at 1.05655 on FXOpen. The EURUSD pair rose after consolidating movements in the range after the gap on Monday. The pair's rise seemed to be fueled by a fall in the USD as investors weighed Donald Trump's recent statement on new tariff policies targeting imports from China, Mexico, Canada and the European Union.

The decline in investor interest in the USD was seen from the dollar index (DXY) which fell 0.77% from a high of 106,924 to a low of 105,856, extending the previous decline.

While the Fed is expected to reduce interest rates more slowly because Trump's policies are predicted to cause inflation, this is because more expensive imports to obtain industrial raw materials cause production costs to rise and companies may raise product prices.

According to the CME group's FedWatch tool probability target rate at the December Fed meeting, there is a 66.5% chance that the Fed will cut interest rates by 25 basis points, and a 44.5% chance that the Fed will not change interest rates. High interest rates encourage support in the currency as treasury yields are more promising.

Fed Chair Jerome Powell has taken a cautious approach, signaling there is no immediate need for additional rate cuts.

Meanwhile, the current ECB interest rate of 3.40% has been lowered from the previous 3.65% in October according to data from Investing. Next today, investors will focus on German inflation data which is forecast at -0.2% from the previous 0.4%.

On the other hand, bank holidays in the US in observance of Thanksgiving Day may reduce trading volume in the market.

EURUSD D1

The EURUSD pair on the daily timeframe is now moving below the middle band line. Bollinger bands draw a descending channel with wide band spacing indicating bearish sentiment with high volatility.

MA 50 below the upper band draws a descending channel crossing MA 200 from the upper side giving an indication of a dead cross signal. MA 200 below the upper band line draws a flat channel indicating a sideways market.

The VB High TDI indicator shows a value of 46 and VB Low shows a value of 23. The difference of 23 reflects the volatility value in the daily timeframe.

Market Base Line points to the value 34 with a curved channel to the upside, meaning the weight of bearish is greater than bullish.

The RSI Price Line points to a value of 42 with an upward channel crossing the MBL and TSL from the lower side indicating an uptrend market.

Trade Signal Line points to a value of 34 with an upward channel indicating an uptrend market.

EURUSD H4

EURUSD in the H4 timeframe is now moving near the upper band line. Bollinger bands draw a curved channel to the upside indicating an uptrend with moderate volatility.

The 50 MA is below the price and the upper band is drawing a flat channel indicating a sideways market. The 200 MA is far above the upper band drawing a descending channel indicating a downtrend.

The VB High TDI indicator shows a value of 61 and VB Low shows a value of 26. The difference of 35 reflects the volatility value in the H4 timeframe.

Market Base Line points to a value of 43 with a flat channel, meaning the weight of bearish is greater than bullish.

RSI Price Line points to the value of 60 with a curved channel to the downside indicating a trend transition.

Trade Signal Line points to a value of 56 with an upward channel indicating an uptrend market.

 

[radex78]

GBPJPY rebounded after a five-day decline.

GBPJPY drew a bull candle with a low of 181.197, a high of 192.457, close at 192.236. Price formed a bull candle with a long body engulfed by the previous candle reflecting weak rejection.

The GBPJPY pair started drawing a bear candle on November 21 reflecting the Japanese Yen gradually strengthening. The Japanese interest rate is now 0.25% which was updated on October 31 from previously unchanged at 0.25%. The yen is gearing up for Japanese inflation figures on Friday. Tokyo core Consumer Price Index (CPI) inflation is forecast to rise to 2.1% for the year ending November, compared to the previous period's 1.8%. Meanwhile, Japan's Unemployment Rate is also forecast to rise to 2.5% in November from 2.4%. While Retail Sales are forecast to rise from the previous 0.7% to 2.1%. The inflation data will be used by BoJ policy makers who may keep interest rates low for an indefinite time.

While the Bank of England interest rate is now at 4.75% since November 7 from 5.00% previously, the next interest rate decision is scheduled for December 19. Inflation is currently 2.3% from the target of 2%, which allows the BoE to be more cautious on the policy of cutting interest rates. Today the BoE will release M4 money supply data which calculates the Change in the total quantity of domestic currency in circulation and deposited in banks which is forecast to fall 0.4% from 0.6% previously.

In addition, Mortgage Approvals will also be released today which is forecast at 65k from 66k previously. This measures the number of new mortgages approved for home purchases during the previous month. BOE Gov Bailey Speaks will also later provide new clues that may provide hawkish or dovish statements for the December BoE interest rate.

GBPJPY D1

GBPJPY price is now moving near the lower band line. Bollinger bands draw a downward channel with the bands expanding indicating a downtrend with high market volatility.

MA 50 near middle band draws a flat channel across MA 200 confirming MA golden cross, indicating a sideways market or trend transition. MA 200 is slightly below MA 50 drawing a flat channel indicating a sideways market.

VB High TDI indicator shows a value of 68 and VB Low shows a value of 38. The difference of 30 reflects the volatility value on the daily timeframe.

Market Base Line points to a value of 53 with a descending channel, meaning bullish weight is greater than bearish.

RSI Price Line points to a value of 37 drawing a falling channel indicating a downtrend market.

Trade Signal Line points to a value of 38 drawing a falling channel indicating a downtrend market.

GBPJPY H4

GBPJPY price on the H4 timeframe is now moving near the middle band line. Bollinger bands are drawing a downward channel with the bands narrowing indicating a downtrend market with reduced volatility.

The 50 MA near the upper band is drawing a downward channel indicating a downtrend market. MA 200 is slightly above MA 50 drawing a flat channel indicating sideways market.

VB High TDI indicator shows a value of 45 and VB Low shows a value of 28. The difference of 17 reflects the volatility value on the H4 timeframe.

Market Base Line points to a value of 37 with a flat channel, meaning bearish weight is greater than bullish.

The RSI Price Line shows a value of 44 with a rising channel crossing the MBL from the downside indicating an uptrend market.

The Trade Signal Line shows a value of 43 with a rising channel crossing the MBL from the downside indicating an uptrend market.

 

[radex78]

The increase in gold prices was limited, profit-taking due to easing geopolitical risks.

The price of gold on Friday experienced a recovery, but profit-taking resulted in a gold sell-off bringing the price down. Gold drew a bull candle with a high of $2665, a low of $2633 close at $2650.

The price of gold last week tried to recover after the drop on November 25. However, gold's upward movement was limited by being swallowed by the previous bearish candlestick. The reduction in geopolitical risk tension between Israel and Hezbollah, which reached a ceasefire agreement, was one of the reasons gold fell 3% daily.

On the other hand, the weakening USD provided support for gold, helping XAU/USD maintain its gains in the middle of the week. The USD Index (DXY) fell to 105.615, extending its previous decline.

According to the US Census Bureau Durable Goods Orders increased by 0.2% MoM in October, missing market expectations of 0.5%. Meanwhile, the US Department of Labor announced that Initial Jobless Claims fell to 213k in the week ended November 23 from 215k in the previous week. The Personal Consumption Expenditure (PCE) Price Index, the Federal Reserve's preferred gauge of inflation, rose 2.3% year-on-year, up from 2.1% in September and line with market consensus, while Annual core PCE inflation edged up to 2.8% from 2.7%.

Today investors will focus on US PMI data, ISM Manufacturing PMI is expected to rise to 47.7 from the previous 46.5.

XAUUSD D1

The price of gold on the daily timeframe is now moving near the middle band line, which is the mean area of Bollinger deviation. Price crossed the middle band from the lower side and touched the MA 50 line. Bollinger bands draw a horizontal channel with slightly deflated band spacing indicating sideways with reduced volatility.

The 50 MA is slightly above the price drawing an ascending channel that is fading indicating the increase may be weakening. The 200 MA is far below the lower band and is still drawing an upward channel, indicating an uptrend market.

The VB High TDI indicator shows a value of 78, VB Low shows a value of 33. The difference of 45 reflects the volatility value in the daily timeframe.

Market Base Line points to a value of 54 with a descending channel, meaning the weight of bullish is greater than bearish.

RSI Price Line shows a value of 46 with an upward channel, indicating an uptrend market.

Trade Signal Line points to a value of 49 with a flat channel, indicating a sideways market.

XAUUSD H4

Gold price in the H4 timeframe is now moving near the middle band line, which is a means of Bollinger band deviation. Bollinger bands draw a flat channel with narrow bands indicating sideways with low volatility.

The 50 MA near the price is drawing an ascending channel that is fading indicating a weakening uptrend. The 200 MA above the upper band draws a flat channel, indicating a sideways market.

The VB High TDI indicator shows a value of 68 and VB Low shows a value of 34. The difference of 34 reflects the volatility value in the H4 timeframe.

Market Base Line shows the value 51 with a descending channel, meaning the weight of bullish is greater than bearish.

The RSI Price Line is pointing at 52 with a descending channel crossing the TSL from the upside indicating a downtrend.

Trade Signal Line points to a value of 54 with a flat channel indicating a sideways market.

 

[radex78]

CHFJPY extends losses ahead of Swiss CPI release

CHFJPY price yesterday drew a bearish candle extending its previous decline. Yesterday the price formed a high of 170,353, a low of 168,197, closed at 168,709.

On a weekly time frame, the decline starting at the end of October indicates the strengthening of the Japanese Yen against the Swiss franc.

The Japanese Yen currency tends to strengthen against other currencies including the USD and Euro. A stronger-than-expected rise in inflation in Tokyo in November, boosting expectations of the Bank of Japan's interest rate hike at next month's policy meeting.

Japan's capital spending implied lower investment than expected and was much lower than previous data. Meanwhile, the Final Manufacturing PMI showed data as expected at 49.0, the same as the previous data revision.

Apart from investors focusing on Swiss CPI data, today they will also focus on American JOLTS (Job Openings and Labor Turnover Survey) data which is expected to rise to 7.49M from the previous 7.44M.

Meanwhile, according to the Swiss Federal Statistical Office, the Swiss CPI has experienced a downward graph with data at the end of October at 0.6% from the previous 0.8%. The decline in inflation may be a consideration for the central bank to cut interest rates. The Swiss National Bank (SNB) interest rate is now 1% from the previous 1.25% updated on September 26.

CHFJPY D1

CHFJPY's price is now moving near the lower band line. Here the Bollinger band is very inflated, indicating a strong price deviation from the mean, which means market volatility is very high.

The 50 MA near the middle band draws a flat channel, although the 50 MA has crossed the 200 MA and signaled a Golden cross, but it seems to be a failed signal. MA 200 below MA 50 draws a flat channel indicating a sideways market.

The VB High TDI indicator shows a value of 72, and the VB Low shows a value of 34. The difference of 38 reflects the volatility value in the daily timeframe.

Market Base Line points to a value of 53 with a descending channel, meaning the weight of bullish is greater than bearish.

RSI Price Line points to a value of 29 with a descending channel indicating a downtrend in the oversold zone.

Trade Signal Line points to a value of 36 with a downward channel indicating a market downtrend.

CHFJPY H4

CHFJPY price on the H4 timeframe is now moving near the lower band line. Here the Bollinger bands draw a downward channel with wide band spacing indicating a downtrend with quite high market volatility.

MA 50 is near the upper band line drawing a descending channel, MA 50 has crossed MA 200 from the lower side indicating a death cross signal. The 200 MA is far above the upper band drawing a flat channel indicating a sideways market.

The VB High TDI indicator shows a value of 45 and VB Low shows a value of 20. The difference of 25 reflects the volatility value in the H4 timeframe

Market Base Line points to a value of 33 with a descending channel, meaning the weight of bearish is greater than bullish.

The RSI Price Line points to a value of 23 with a descending channel indicating the downtrend is in the oversold zone.