Forex Signals Brief for Nov. 27: Can the Majors Keep on Moving This Week?
Rowan Crosby • 2 min read
I hope those of you celebrating Thanksgiving had a nice break from the markets last week. The FX Leaders Team, on the other hand, were hard at it and had a massive week, with a string of excellent trades in what was only a short trading week.
The Majors proved to be great trades, with the AUD/USD, NZD/USD and USD/CAD all performing really strongly for us. The big downtrend in the AUD and NZD, in particular, proved a bonanza for our followers.
As the week rolled on the FOMC minutes turned the USD around and EUR crosses started presenting some excellent trading opportunities.
This week the theme still remains the same as we look to capitalize on some of the USD weakness. On the forex signals front, we are short the AUD/USD as the pullback has given us a great selling opportunity. Our gold positions are still holding steady and I’m looking for prices to fall over the course of the week. We just hit our take profit on the NZD/USD as some weakness hit in early Asian trade.
It should be a solid week of trading ahead with US traders back after a nice break. Keep the forex signals page open to make sure you are first with the very best trading opportunities on Monday.
News that Matters for our Forex Signals
The new Fed Chairman-in-waiting, Jerome Powell, who was selected by US President Donald Trump, will appear before the Senate Banking Committee on Tuesday for his confirmation hearing. This might give us some insight into his thinking and has the potential to shake up the USD.
For a more in-depth analysis of the economic events expected this week, take a look at the Economic Events Brief – Nov 27.
Forex Signal Watchlist
AUD/USD – We are currently short the AUD/USD after we got a bit of a bounce last week.
EUR/USD – The Euro has broken out to the upside and is targeting the next level at 1.2000. We had a nice winner in the EUR/USD on Friday.
NZD/USD – The Kiwi has consolidated after a few weeks of moving lower. We just hit our take profit target for another nice winner.
Gold – We are still short in our longer-term gold trade and also a shorter-term position. We are targeting 1286 and 1273 to the downside.
Live Forex Signals
AUD/USD – Resistance Holding Up
The AUD has been very weak in recent weeks and we’ve been riding the downtrend. Support turned resistance has been strong so far and we are looking for more downside. You can read more about Skerdian’s thinking on this trade here.
AUD/USD – 240 min Chart.
NZD/USD – Hit Take Profit
We opened sell signal in the NZD/USD last week after price pulled back and consolidated. The Kiwi has been falling heavily in recent weeks and this pullback was a nice point to target some more downside. Our take profit target of 0.6865, got hit in early Asian trade!