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TD Markets Daily Market Commentary

Authored by TD Markets
01.12.2022
Technical Analysis
0
2 min

Commentary:

GBPCHF:

(UPDATE) - GBPCHF is currently trapped inside a range. Price initially broke above the small channel and showed momentum at first but went into a range. This price action has not broken the overall upward structure and as such, traders are still looking for trading opportunities to the upside. A break and close above the range could cause the price to continue to the upside.

GBPNZD:

(UPDATE) - GBPNZD aggressively broke and closed below the triangle. This price action now confirms the continuation of the trend to the downside. Traders will now look for more corrections to identify bearish trading opportunities as the market has not signalled any change in structure and behaviour. Targets are set at the previous daily low.

GOLD:

(UPDATE) - GOLD has fully committed to the upside. Price action seemed messy when the market spiked down below the support zone however the overall structure to the upside wasnt broken. This resulted in the market testing the support zone again before it rallied up. Traders are now waiting for the market to reach the previous resistance zone around 1786.00 before taking profits.

Authored by TD Markets
01.12.2022
Technical Analysis
0
2 min
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