Fri, September 30, 2022

Daily Market Charts and Analysis November 24, 2020


Here are the latest market charts and analysis for today. Check them out and know what’s happening in the market today.


Singapore’s economy expanded by 42.3% in the final month of the third quarter. However, the country’s gross domestic product (GDP) is still down by-5.8% in yearly comparison. Despite the somewhat positive data from Singapore, investors are still expected to put their money on the US dollar. The reason for this was the upbeat data from the world’s largest economy. The Composite, Manufacturing, and Services PMI reports were able to beat analysts’ expectations and their prior results. The figures for these reports were 57.9 points, 56.7 points, and 57.7 points, respectively. The better-than-expected data shrugged off concerns by investors that the rising COVID-19 cases and a high number of claimants for unemployment benefits could derail the US economic recovery. The USDSGD pair was trading below the 50 and 200 moving averages. Meanwhile, the MACD is about to crossover which signals a bullish movement in the coming days.



Consumer confidence in Denmark dropped to -7.6 points against October’s -6.2 points figure. The pessimistic outlook from consumers reflects the worries they had with the resurgence of COVID-19 in the region. The European Union’s economic powerhouses, Germany and France, have disappointing results for their most recent reports as well. Germany posted 52.0 points for Composite PMI, 57.9 points for Manufacturing PMI, and 46.2 points for Services PMI. Meanwhile, France reported 39.9 points, 49.1 points, and 38.0 points, respectively, for these reports. The EU bloc had a more modest decline on these reports compared to France. Figures came in at 45.1 points, 53.6 points, and 46.2 points. The pair is currently trading between the 200 MA as its resistance and 50 MA as its support. However, following the MACD’s successful bearish crossover, prices should fall towards the next key support area at 7.42263.


Following the correction that started on November 09, the EURTRY is back in an uptrend movement once again. The recent strength in the Turkish lira was due to the weakness in the EU reports and not because of upbeat data from the country. Hence, prices will continue to increase in the near term. As for Turkey’s figures in its most recent reports, it is better when compared to its European counterparts. Capacity Utilization for the month of November inched higher to 75.8%. However, the manufacturer’s confidence in the current status of Turkey’s economy was still low at 103.9 points. This was a substantial blow for the report whose recent record was 108.1 points. The national government debts are still soaring. The debt stock for October is now at $1.93 trillion from $1.86 trillion. The pair successfully breached the 50 MA while the MACD is set to have a bullish crossover within the next three (3) days.


The British pound outperformed its peers in the European Union with its modest result for Manufacturing and Services PMI reports. Figures came in at 55.2 points and 48.5 points, respectively. Germany posted better results for the manufacturing sector than the United Kingdom at 57.9 points but lower against the services sector with 46.2 points. However, France’s figures were both lower than the UK. Manufacturing PMI was at 49.1 points while Services PMI broke the 40 points level with a 38.0 result. In Australia, both actual results for these reports beat their previous records. The numbers were 56.1 points and 54.9 points. A bearish movement is expected as historical data on the moving averages showed that prices tend to trade below 50 MA. This means that there is a high chance that the GBPAUD pair will break down from the moving average support. Meanwhile, MACD was flat and is not expected to become bullish anytime soon.



Gold and other precious metals

Following a remarkable recovery from multi-year lows, gold prices slightly declined on

UAE Ministry of Economy has new offices in the Metaverse. The UAE

The Dollar Falls As The Yield Curve In The U.S. Flattens

Early on Thursday in European trade, the U.S. dollar continued its upward


2 responses to “Daily Market Charts and Analysis November 24, 2020”

  1. mc abert says:


    Hi everyone are you looking for a professional binary, forex and Bitcoin broker/manager who will guide and help manage your trade and help you earn meaningful profits all within seven days contact Mr Barry Silbert now for your investment plan. For he has helped me to earn 10,250 USD just with a little investment capital and with the aid of his trading software system that brings forth good trading signals i was able to trade and cash out on time and am still trading with him, if you need his assistance on how to recover your lost investment in bitcoin/binary Contact him now on whatsaap +447508298691. or contact him on his email address Email: Barrysilbert540 @ [WITH MR BARRY I BELIEVE THERE ARE STILL GOOD INDIVIDUALS WHO STILL HAVE GOOD INTENTION TO OTHERS. ONCE AGAIN THANKS MR BARRY.]

    Did you find this review helpful? Yes No

  2. Srikanth Jatharakonda says:

    Many people are making profits weekly through the of miss Doris Ashley

    Many people are making profits weekly and many are withdrawing their profits daily, weekly and even monthly. What are you waiting for? Contact Mrs Doris today to give you a free masterclass strategy also help you recover your lost funds with the help of her experience and technology, contact her to become a successful investor,, (dorisashley52@gmail. com) she will tell you what you should do or get in touch with her via WhatsApp +1 (516 218 6889

    Did you find this review helpful? Yes No

Leave a Comment

Your email address will not be published.


FxPro UK Reports 48% Revenue Drop in 2021

FxPro UK Limited, the FCA-regulated subsidiary of the Cyprus-based group, published its financials for the fiscal year 2021, ending on December 31. The report showed that the broker’s revenue decreased 48 percent to


Broker News

FxPro UK Reports 48% Revenue Drop in 2021

FxPro UK Limited, the FCA-regulated subsidiary of the Cyprus-based group, published its financials for the fiscal year 2021, ending on December 31. The report showed that the broker’s revenue decreased 48 percent to £900,365