Forex Signals Brief for Dec 29: Forex Markets Wake-Up After Christmas
Rowan Crosby • 2 min read
Forex markets have finally started to get things going and yesterday we saw a bit of range in the majors. For the most part, we have a weak USD to thank, but the good news is we are getting some opportunities coming our way.
The FX Leaders Team opened a number of new positions in yesterday’s session as we look to ride a bit of the momentum.
As it stands we are now in a long NZD/USD trade, as well as the EUR/CHF. We are also looking for a short-term top in Crude Oil and are currently short. Our good old EUR/GBP trade continues to plod along slowly and it held up despite the EUR strength, which, unfortunately. took us out of a couple of other positions.
Bitcoin continues to make headlines on a daily basis, but for now, our long position is looking OK. As it stands the range between 13000 and 16000 is keeping things together.
There is a bit of action around at the moment so don’t miss any chances ahead of the new year. Keep the forex signals page front and center for all the latest trade setups.
Forex Signal Watchlist
GBP/JPY – We are really trading in a tight range and any strength might be enough to get us to our sell zone.
Litecoin – The volatility is slowly coming out of the cryptocurrencies and that means we might find a short-term bottom.
Live Forex Signals
Crude Oil – Fade the Break
Crude oil has really spiked higher through 59.00 thanks to a pipeline attack in Libya earlier in the week. Yesterday we saw another draw in oil inventories which was bullish, and we are now looking to fade that breakout. We have a downside target of 59.43.
Crude Oil – 240 min Chart.
NZD/USD – Bullish Mode
We have seen a big about-face in the Kiwi over the last few weeks. We’ve gone from selling everything to some really bullish action. There looks to be more upside here as well so, for now, we are riding the newfound momentum. As it stands we have an upside target of 0.7112.