Here are the Top Market Analysis for the 28th of November, 2023.

Currencies (Forex – FX)

• EUR/USD: The EUR/USD is currently trading in a range between 1.0875 and 1.0963, with no clear direction. The outlook remains positive for a resumption of the uptrend, but a break below 1.0875 could lead to further selling.
• USD/JPY: The USD/JPY is currently trading in a range between 148 and 149. The pair is consolidating just above the key support at 149.0. A confirmed break below this level would signal a potential move towards the next significant support at 1480.
• GBP/USD: The GBP/USD is currently trading in a range between 1.245 and 1.2600. The pair is consolidating just below the key resistance at 1.2450. A confirmed breach of this level would open up the possibility of a move towards the next significant resistance at 1.2700.
• AUD/USD: The AUD/USD is currently trading in a range between 0.87 and 0.89. The pair is consolidating just below the key resistance at 0.90. A confirmed break above this level would signal a potential move towards the next significant resistance at 0.95 .
• NZD/USD: The NZD/USD is currently trading in a range between 0.6050 and 0.6150. The pair is consolidating just below the key resistance at 0.6250. A confirmed break above this level would signal a potential move towards the next significant resistance at 0.6350.
• USD/CAD: The USD/CAD is currently trading in a range between 1.3200 and 1.3800. The pair is consolidating just below the key resistance at 1.3900. A confirmed break above this level would signal a potential move towards the next significant resistance at 1.4100.

Current Factors Affecting the Markets and Events to Watch Out For

• Bank of Japan (BOJ) Policy Meeting: The BOJ is due to hold a policy meeting on December 19-20. The BOJ is expected to maintain its dovish monetary policy.
• European Central Bank (ECB) Policy Meeting: The ECB is due to hold a policy meeting on December 14-15. The ECB is expected to raise interest rates by 50 basis points.
• Geopolitical tensions: Geopolitical tensions, such as the war in Ukraine, can also affect currency prices. Investors tend to sell currencies from countries that are involved in geopolitical conflicts, as they are seen as riskier investments.
• US-China trade war: The US-China trade war is still ongoing, and could continue to weigh on the global economy and the forex market.
• The Chinese government’s recent efforts to stimulate the economy
• Changes in investor sentiment
• The adoption of cryptocurrencies by businesses and individuals is growing, but it is still in its early stages.
• Regulatory uncertainty: The cryptocurrency industry is still facing a lot of regulatory uncertainty around the world. This uncertainty is also weighing on the market, as investors are hesitant to invest in assets that are not well-regulated.
• Positive news from the regulatory front: The US Securities and Exchange Commission (SEC) recently approved the first Bitcoin futures ETF, which could lead to increased institutional investment in Bitcoin.
• Strong on-chain metrics: On-chain metrics, such as the number of active addresses and the number of transactions, have been trending positively in recent weeks.
• Short covering: Some traders believe that the recent sell-off in the cryptocurrency market was overdone and that we are now seeing short covering.
• The weather.