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GBPUSD Technical Analysis December 1, 2020

The decline of the pair has been valid since November 2007, and it pushed the GBP down to 1.1410 low. The descending trend line emerged after the conjunction with July high at 1.719. The bears are in rule as far as the market trades below the downward trend-line. That said, the stochastic approaches the overbought zone, indicating the market might be saturated with buyers.


From a technical standpoint, if the market stabilizes around the 1.4 area, the end of the bearish trend can be considered more seriously.



Bulls are trying to cap the September high 1.3479.

GBPUSD_D_RQYtchffla.png


A clear breach of 1.3479 would motivate the bulls to bet on higher bids.

GBPUSD_M_2Lm9BTZPlu.png


By AM Content team
 

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December 2, 2020

EURUSD rises among vaccine optimism, notwithstanding Biden's China comments


The pair floats above 1.205 as the UK confirmed the Pfizer/BioNTech vaccine, and as the U.S politicians consider to inject the small business, and households with a stimulus package.


Technical Standpoint

Weekly overview

The EUR rose above the descending trend-line that was valid from July 2008 until August 2020. The above mentioned trend-line was the biggest barrier for the bulls to break through.
  • Stochastic hovers in the overbought zone!!!

EURUSD - W - 1.png



Daily Overview
Now that the bulls pushed above the 1.2 resistance, the path is paved to address buyers hunger in capping the next support at 1.22 followed by 1.255.
  • Stochastic hovers in the overbought zone!!!

EURUSD - D - 1.png
 

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Gold Market Analysis | December 2, 2020



As expected, gold bounced from $1760, where the market touched the lower jaw of descending channel on November 30, 2020. The price correction might extend to September low at $1847. The $1847 sealing offers a better quote for the bears to add new orders to their baskets with more confidence.


XAUUSD.png
 

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GBPUSD Technical Analysis December 1, 2020

The decline of the pair has been valid since November 2007, and it pushed the GBP down to 1.1410 low. The descending trend line emerged after the conjunction with July high at 1.719. The bears are in rule as far as the market trades below the downward trend-line. That said, the stochastic approaches the overbought zone, indicating the market might be saturated with buyers.


From a technical standpoint, if the market stabilizes around the 1.4 area, the end of the bearish trend can be considered more seriously.



Bulls are trying to cap the September high 1.3479.

View attachment 59904

A clear breach of 1.3479 would motivate the bulls to bet on higher bids.

View attachment 59905

By AM Content team



GBPUSD Technical Analysis December 2, 2020
Bulls effort in declining the 1.3479 resistance wasn’t yet sufficient. GBPUSD tumbles amid the vaccine confirmation by the U.K! Support is at 1.3.

GBPUSD_D_89JP2D8Zxo.png
 

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Casual Market Update | GBPUSD December 2, 2020


Minor support emerged at 1.3293. The bearish push likely be seen around 1.3120 if the said deck invalids.


Screenshot_2.jpg
 

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AUDUSD Technical Analysis | December 3, 2020


AUDUSD Technical Analysis | December 3, 2020

The pair did not just cap the September high, but it struggles to surpass the 0.7414 sealing on today's trading session.

Zooming out to the weekly time frame, a clear break and a retest of the descending trend line is spotted. That indicates the market orientation to be bullish. With a decline of 0.7414 resistance, further upside momentum would be imminent, and the path to 0.8136 high will be paved for the bulls.


AUDUSD - TA - 312.png


Support is at 0.6997 near the 150 moving average indicator. It alerts the sellers if the Aussie dollar tumbles below the said level.

Screenshot_4.png

 

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Gold Market Analysis | December 2, 2020



As expected, gold bounced from $1760, where the market touched the lower jaw of descending channel on November 30, 2020. The price correction might extend to September low at $1847. The $1847 sealing offers a better quote for the bears to add new orders to their baskets with more confidence.


View attachment 59942



GOLD Technical & Fundamental Analysis December 3, 2020


  • USD is undermined amid the hopes for more U.S fiscal stimulus​
  • The recent optimistic news about the first COVID-19 vaccine could not intimidate bulls​
  • Gold trade volume had a decrease today​
The rebound from $1,764 is on its third consecutive winning day. The market participants await the U.S economic docket:​
  • Weekly jobless claims​
  • ISM services PMI​
Screenshot_5.png


From a technical standpoint, the $1,850 barrier offers a sales opportunity for the bears to start a fresh push.​

XAU_USD.png
 

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Casual Market Update | GBPUSD December 2, 2020


Minor support emerged at 1.3293. The bearish push likely be seen around 1.3120 if the said deck invalids.


View attachment 59946


GBPUSD MARKET ANALYSIS UPDATE | December 6, 2020



BREXIT negotiations have yet to result in an agreement. Further talks continue during the weekend.​

Weekly Chart
GBPUSD - WEEKLY.jpg


As per recent updates, the negotiations are going slow while the UK Telegraph points out a weekend conference between UK PM Johnson and French administration Macron. It also mentions an unnamed UK source speaking, “Our hopes of any movement on Friday are pretty much gone now”, with Monday now set as the informal deadline for a deal by Downing Street.​

Daily Chart
GBPUSD - DAILY.jpg


On the other hand, the U.S contagious disease expert Mr. Anthony Fauci withdrew on Thursday for pitching uncertainty on the rigour of the British regulators who approved the Pfizer Inc vaccine on the COVID-19, saying he had confidence in the quality of their work, per Reuters.​

4 Hour Chart
GBPUSD - 4H.jpg
 

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GOLD Technical & Fundamental Analysis December 3, 2020


  • USD is undermined amid the hopes for more U.S fiscal stimulus​
  • The recent optimistic news about the first COVID-19 vaccine could not intimidate bulls​
  • Gold trade volume had a decrease today​
The rebound from $1,764 is on its third consecutive winning day. The market participants await the U.S economic docket:​
  • Weekly jobless claims​
  • ISM services PMI​
View attachment 59969

From a technical standpoint, the $1,850 barrier offers a sales opportunity for the bears to start a fresh push.​

View attachment 59971


XAUUSD Market Analysis | December 7, 2020


Gold sharply penetrated $1,847 resistance amid hopes on the COVID-19 vaccine, which increased demand for safe-haven currencies.
  • Bulls are in session of the highest level since November 23.
  • The momentum above $1,847 will remain bullish, and it may target the $1,920 round-figure.
$1,847 acts as support. Trade orientation below the said level is bearish.

Daily Chart
XAUUSD - D.jpg


4H Chart
XAUUSD - 4D.jpg
 

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XAUUSD Market Analysis | December 7, 2020


Gold sharply penetrated $1,847 resistance amid hopes on the COVID-19 vaccine, which increased demand for safe-haven currencies.
  • Bulls are in session of the highest level since November 23.
  • The momentum above $1,847 will remain bullish, and it may target the $1,920 round-figure.
$1,847 acts as support. Trade orientation below the said level is bearish.

Daily Chart
View attachment 60067

4H Chart
View attachment 60068

GOLD Market Analysis | December 9, 2020

Amid the following concerns:​
  • High COVID-19 cases and death in the US and Germany​
  • BREXIT no-deal concerns​
  • US-China fight​
The buyer’s enthusiasm eased at the $1,875 barrier. A breakthrough of the said level would pave the way to $1,920.
Support remains unchanged at $1,847. The market is considered bearish if we see penetration in the mentioned deck.

XAUUSD - 4 H - 92020.png


There isn't any major economic data due for release from the US on Wednesday. Therefore, the US fiscal stimulus titles will play an essential role in influencing USD rate dynamics.​
 
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