Forex Signals Brief for Dec 12: The Euro is Looking Like a Great Short Signal
Rowan Crosby • 2 min read
It’s been a quiet start to the week as can often be the case when there is huge news on the horizon. Traders are waiting to hear from four Central Banks this week and as such Monday was a bit on the quiet side.
It did, however, give us an opportunity to enter some new positions based on some strong technicals. And it was the Euro that was the feature of the majority of our positions.
Given the weakness that we’ve had in the shared currency, the FX Leaders Team opened new short signals in the EUR/USD, the EUR/GBP and the EUR/JPY. They fit nicely with our longer-term sell signal in the EUR/USD which has been progressing beautifully so far.
We are also still riding our AUD/USD position along with Gold. The only loss we took was on the Kiwi after some news sent it bouncing.
Despite the slow start on the news front, things are going to turn very quickly and the rest of the week will be very active. So keep watching the forex signals page for what is shaping as a huge week.
And as always, Arslan will be across all the big economic events so make sure you keep a close eye on his morning outlook.
Forex Signal Watchlist
NZD/USD – This Kiwi bounced on the new RBNZ Governor announcement, however, that might just be another opportunity for us.
Nikkei – The Japanese stock market is active at the moment and we are waiting for an opportunity to sell.
Live Forex Signals
EUR/USD – Short Across the Board
As I mentioned earlier, we have opened four sell signals in Euro pairs and by looking at the long-term chart you can see why. The trend is certainly down and our long-term position is looking quite healthy. Our sell signal on the EUR/USD has a downside target of 1.1540.
EUR/USD – 240 min Chart.
AUD/USD- Can the Trend Continue?
We’ve been in the AUD trade for a few days now and we have neared our target on a number of occasions. Yesterday, we got a bit of a retrace as the buyers came in around 75 cents. This is a big level in the AUD/USD, however, the momentum is still heavily to the downside. The only issue is that we need to see some weakness prior to the Fed on Wednesday.