Forex Signals Brief, Dec 26: Dollar Trembles Over Partial US Government Shutdown
This morning, the US dollar was down against most of its peers over ongoing fundamentals. Series of negative factors including intensified..
Good morning, traders.
I hope you enjoyed Christmas day and are still enjoying the holidays. However, the forex markets will remain open during the Asian session today; although, we can’t be sure about the trading volume and price movement for obvious reasons.
This morning, the US dollar was down against most of its peers over ongoing fundamentals – a series of negative factors, including intensified concerns over a partial US government shutdown and tension between the White House and the Federal Reserve.
Today, investors will be eyeing the Japanese CPI and S&P/CS Composite-20 HPI y/y later. We will discuss these events in our economic events brief, but for now let’s see what’s going on with our forex trading signals.
Forex Signal Update
Team FX Leaders didn’t open any trade yesterday as the financial markets and brokers around the globe were off due to Christmas holiday. Therefore, our forex trading signals on Gold and NZD/USD still remain active.
GOLD – Active Signal
The yellow metal gold continues to trade higher on Wednesday as the dollar weakened. The bullion hovered near a 6-month high, supported by political instability in the United States and concerns about a global economic slowdown.
Our trading signal remains on a losing side and, considering the intensity of bullish fundamentals, the odds of triggering stop-loss remains high. Well, it’s part of the business – you lose some to capture the next opportunity. Gold has also violated the intraday resistance at $1,270. Now the next resistance stays at $1,282.
Gold – 240min.
Cryptocurrency Update
The leading cryptocurrency Bitcoin continued to drop on Tuesday until it tested a low of $3,716. As can be seen on the 3 – hour chart, BTC/USD took a slight bullish reversal during the early Asian session, but most of it is coming as a retracement.
Therefore, BTC/USD may find next support at $3,785 and $3,400. While the resistance is likely to be at $3,985 and $4,250.
BTC – 240min.
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