Forex Signals Brief, Dec 25: Happy Christmas Day, Santa is on his Way!

Posted Tuesday, December 25, 2018 by
Arslan Butt • 2 min read

Howdy, traders.
It’s Christmas Day and I wish Santa Claus brings gifts to your homes. On behalf of my team, I take this opportunity to thank all of our followers for staying with us in 2018. We wish you abundance and joyous moments this New Year 2019.

It has been enriching for us to serve you with each and every potential trade opportunity and market updates, and we aim to do the same in the coming year.

Alright, now let’s get back to the market updates. On Christmas Eve, the dollar tumbled to four-month lows against the safe haven currency Yen. The sell-off came as traders cut exposure to riskier assets as the United States struggled with a partial government shutdown and open dispute between the White House and the central bank.

Besides that, the global financial markets remain fully closed in the observance of Christmas Day. So, we won’t have setups to trade this morning.

Forex Signal Update

Team FX Leaders closed Christmas Eve in green, where profit came from our EUR/CHF trade. Our forex trading signals on Gold and NZD/USD still remain active.

GOLD – Active Signal

The precious metal gold spiked on Monday, trading near a 6-month high, as worries about a potential US government close down and global growth weighed on the Greenback and equity markets. In response, traders moved their investments into safer investments such as bullion (gold) and Japanese Yen.

Due to change in recent fundamentals, the precious metal is going against our long-term signal. It has also violated the double top resistance at $1,265. Now the next resistance stays at $1,270.

Gold – 240min.

Cryptocurrency Update

The leading cryptocurrency Bitcoin takes a sharp bearish turn to trade at $3,902.8, down by -459.3 points and -10.53% until now. As it can be seen on the 3 – hour chart, BTC/USD has a fakeout at $4,250, but the market reversed very soon on Christmas Day.

The BTC/USD may find next support at $3,785 and $3,400. While the resistance still remains at $4,250.

BTC – 240min.

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Gold broke below the support zone of $1.950 yesterday and now it is headed for the 100 SMA on the daily chart
2 days ago
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