Forex Signals Brief for Nov. 22: It’s Seven Straight to Start the Week!
Rowan Crosby • 2 min read
It sure has been an impressive start to the week from the FX Leaders Team as it is seven out of seven for our forex signals.
Tuesday ended up being a quiet trading day as a whole. Volumes were dropping, but there was still enough room to find some pips in a couple of nice trades.
On the currency front, our short signals in both the USD/JPY and the GBP/JPY both turned a healthy profit as there was a little more strength on the Yen side. While our other signal in Oil also hit the take profit target after price managed to bounce off a resistance level.
As it stands we are currently in yet another short trade in the NZD/USD. It’s a pair that has been really good to us over the last few weeks and there is a strong downtrend in place. Our longer-term gold trade is still going along nicely, although the yellow metal did rally a bit yesterday on the back of some USD weakness.
There might be a bit of action on Wednesday in the majors as the FOMC will be releasing their minutes. So stay tuned to the forex signals page as we try to continue with the big week we are having so far.
Forex Signal Watchlist
AUD/USD – The AUD jumped a bit after some hawkish comments from the RBA and we are eyeing another short position.
USD/JPY – The Yen hit our profit target on Tuesday for another nice win.
NZD/USD – We are currently short the NZD/USD and the downtrend is still holding strong for now.
GBP/USD – We are eyeing off a buy signal in the pound if we can secure our price.
Gold – We are still short in our longer-term gold trade, although it did rally a touch on Tuesday on the back of some USD weakness.
Oil – Oil was another profitable trade on Tuesday. It’s getting pretty bullish so watch this one closely.
Live Forex Signals
NZD/USD- Ride the Trend
The commodity currencies, in general, have been great trades for us and I would say that the Kiwi is the weakest of them all. And what’s more the pullbacks have been bouncing off the technical levels really well. We have a downside target of 0.6800 and any USD will probably see us hit that. The FOMC is out today with their minutes so that’s the key risk factor here.
NZD/USD – 240 min Chart.
Gold – A Slight Bounce
The gold trade has been good to us and we very nearly took out our profit target on Monday. Yesterday there was a bit of a rally as the USD spiked a touch. This is looking like a strong position, however, the FOMC minutes do pose some degree of risk. I don’t expect any surprises and if the USD moves higher I think we will hit our target on this one.