Forex Signals Brief for Dec 14: Four Winning Signals as Central Banks Dominate
Rowan Crosby • 2 min read
Well, that was a busy trading day. The FX Leaders Team did a great job of navigating some tricky waters to pull in four winners as the FED kept us on our toes.
The rate hike and statement sent the USD tumbling and we had to make some quick adjustments which worked out nicely for us.
The weak USD put pressure on our EUR/USD short so we took that off while we were still in profit. Similarly, our Gold trade got a lift and it went green allowing us to take a profit there also.
Early on we banked profits in the EUR/JPY and DAX, prior to all the excitement. Unfortunately, our AUD/USD short hit our stop as the USD weakened.
As it stands we are only long the EUR/CHF as we wait for the dust to settle.
There’s no time to rest though as the ECB and SNB are out today with their own interest rate decisions so stay tuned to the forex signals page as more action is on the way.
The EUR is going to be in the firing line today along with the CHF so make sure you look out for Arslan’s economic preview for Thursday.
Forex Signal Watchlist
EUR/USD – The bounce here might be overdone in the short-term. There is the potential for a short signal, however, we must navigate the ECB.
USD/JPY – The weakness here is presenting us with a chance to look for a good long position.
Gold – We managed to get a bounce in gold thanks to the FED, however longer-term we are still trending lower. This might be a good chance to look for a short.
Live Forex Signals
EUR/CHF – Drifting Higher Ahead of Rate Decisions
The EUR/CHF has been in a nice long-term uptrend. We are currently long and this one is moving along well for us as the EUR is gaining on a weaker CHF. This is a big day for this pair as they are both in the firing line as we have the ECB and SNB out with rate decisions. Play this one very tightly. Our profit target is at 1.1690.
EUR/CHF – 240 min Chart.
EUR/USD – Are We Overbought?
Given the weakness in the USD, our EUR/USD started pushing against us and we closed the trade for a profit. However, in the short-term, that means that we are a little overbought. We have to be wary of the ECB today but there is also opportunity around to find a good short position here.