Forex Signals Brief for Dec 13: The End of QE for the Eurozone? - Forex News by FX Leaders
ECB in Focus

Forex Signals Brief for Dec 13: The End of QE for the Eurozone?

Posted Thursday, December 13, 2018 by
Rowan Crosby • 2 min read

Recently all the action in markets has been on the geopolitical front, but today that changes as our attention turns back to the central banks and specifically the Eurozone.

Today’s meeting of the ECB is unlikely to see any change in official interest rates. However, what is on the agenda is that they are universally expected to end their QE in December. It’s hard to say if that means anything will come from today’s meeting as there will likely be plenty of technicalities, but listen out for ECB President Mario Draghi’s press conference as he will likely address some key issues including the current weak growth in the Eurozone.

Elsewhere we have another central bank meeting with the SNB. They too are not expected to make any significant changes to official rates, but we will look for more clues on their thinking going forward also.

 

Forex Signal Update

The FX Leaders Team finished with one winner with from the three signals in what was a relatively quiet day.

EUR/GBP – The EUR/GBP is back testing the 0.9000 level after a really huge week for the GBP. We have to keep watching this level to see if it can hold.

 

Gold – Active Signal

Gold is currently holding above the 1240 level so in the short-term we have a bit of an uptrend. As it stands we are in a long and short term signal here so we are looking for a short jump higher, but overall a longer fade back below support at 1240.

Gold
Gold – 240min.

 

AUD/USD Active Signal

The AUD/USD has so far been holding the 0.7200 level on the back of a slightly weaker USD. This level will need to drop for this signal to really go our way.

AUD/USD
AUD/USD – 240min.

Cryptocurrency Update

Bitcoin failed at the $3,500 level and is now back selling off. The fact that we have put in another lower high is a bearish sign that just confirms the downtrend that we can all see.

The lows are sitting around $3,200 and as mentioned I’m waiting on a flush to $3,000.

If the buyers come in and we can hold above $3,500 there might be some hope of a little bit of a relief rally, but for now, I am firmly bearish.

BTC
Bitcoin – 240min.
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
Related Articles
There was a little change in the U.S. dollar on Wednesday in Asia but on the other side British pound boosted up after U.K. Prime Minister..
10 hours ago
On Wednesday, gold prices are still stable in european session, due to traders continues careful between the latest news on the Sino-U.S. trade front.
12 hours ago
Comments

Leave a Reply

avatar
  Subscribe  
Notify of