Forex Signals Brief for Dec 13: We Bank 6 Winners Ahead of the FOMC
Rowan Crosby • 2 min read
The big day is finally here and the FOMC is ready to get forex markets firing. However, followers of our forex signals didn’t need to wait to start profiting this week.
Yesterday the FX Leaders Team, banked six winners to fatten up our trading accounts ahead of a potential rise in US interest rates. As we mentioned yesterday, we were short the EUR across the board and it’s fair to say the trade delivered.
We booked wins in the EUR/USD, the EUR/GBP and two nice profits in the EUR/JPY. Gold also added to our bottom line as it often does.
The AUD/USD trade was an interesting one as it jumped a little higher and we adjusted our stop loss. However, it represented a good opportunity and we added to that short position to book another win. We are still riding the second half of that trade. Our short in the S&P 500 was the only loser on the day.
At the moment we have positions in the EUR/USD, Gold, EUR/CHF and the previously mentioned AUD/USD trade.
This is the big trading day we’ve been waiting for so keep watching the forex signals page as the fireworks are on the way.
Arslan will be previewing the FOMC, so get ready for his thoughts on how to attack a US rate rise.
Forex Signal Watchlist
NZD/USD – This Kiwi is still bouncing higher and this one has been a great short for us.
EUR/USD – Short positions have been going well this week as the downtrend remains in place.
AUD/USD – The Aussie bounced for no real reason, before retracing. Watch for more short opportunities here.
Live Forex Signals
EUR/USD – Shorts Cash In
The Euro shorts have been good to us in the last 24 hours and you can see why. The EUR has been declining against most of the major currencies and we have made profits in a number of the crosses. Our long-term signal is travelling along well and we just need to navigate the FOMC today. Our sell signal on the EUR/USD has a downside target of 1.1540.
EUR/USD – 240 min Chart.
Gold – Reversal Point?
Gold is going to be active today with the FOMC in focus. Generally, any interest rate increase can be attributed to some degree of inflation returning. When there’s inflation that means gold is in demand. As such today might be the defining moment for this long position.