Forex Signals Brief for Dec 4: Market Volatility Creating Opportunity
Rowan Crosby • 2 min read
Well, I think it’s fair to say that last week was a wild ride in the forex markets. The FX Leaders Team had a steady stream of winning trades, with a couple of days of big action to round out the week.
Thursday was the highlight as we put together a massive day, collecting on seven huge winning signals. Then on Friday a news story came out alleging wrongdoings by US President Donald Trump with his relationship with Russia during the campaign.
Although the story was not quite accurate, a USD sell-off hit, before markets promptly rebounded. This caused a couple of stop-outs which was annoying. However, the guys managed to navigate the waters really well to finish three and four on the day, which was very strong.
Overall the week was a very positive one for our signals. Volatility is always a good thing for traders as it gives us an opportunity and there looks to be more on the horizon.
As it stands, we are sitting in a long-term sell signal in the EUR/USD. We are also eyeing off potential entries in the EUR/JPY and GBP/JPY to get the ball rolling.
US President Donald Trump’s tax bill is making progress and that is going to be a big driver of USD strength this week. We also have non-farm payrolls on Friday which will bring the action. Arslan will have more on this in his weekly economic outlook and trade setups, so keep an eye on that.
Be sure to tune into our forex signals page for more opportunities as the trading week gets underway.
Forex Signal Watchlist
EUR/USD – The Euro has been really choppy, however, there is a chance of more downside longer-term. We have an active sell signal targeting 1.1540.
GBP/JPY – The pound was really strong last week and this pair powered forward. There are now signs of a retrace.
EUR/JPY – This one is pushing higher and there might be a pullback in the works.
Live Forex Signals
EUR/USD – Euro is a Sell
The Euro has been a tricky trade over the last week with up and down price action. On a short-term level, we have had a lot of chop. Longer-term, it looks like there is some USD strength coming back into the markets. We have an active sell signal out on the EUR/USD, with a downside target of 1.1540.
EUR/USD – 240 min Chart.
GBP/JPY- Are We Due For a Retrace?
The GBP was a really strong performer last week and we have pushed higher against most other currencies. The GBP/JPY is right at the top of the range and the price action now looks a little bearish. If we can get our price we are looking to short this one.