Dollar Index Hits Target

Forex Signals Brief, Dec 27: Dollar Holds Firm on Economic Data; Bitcoin Subdued

Posted Thursday, December 27, 2018 by
Arslan Butt • 1 min read

Good morning, traders.

It’s likely to be a busy day as the brokers are offering access to all the trading instruments and we have a series of low and high impact economic events due for today. We will discuss them in our next update – Economic Events Brief, but for now, let’s take a look at the active and closed signals.

The Greenback held on to most of its overnight winnings as investors applauded signs of shifting of trade war tensions. Moreover, the stronger-than-expected US economic figures sent Wall Street indices surging.

Today, investors will be eyeing a series of economic events from the US, Eurozone, and Japan. 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

It wasn’t one of the good days as team FX Leaders grabbed a winner in NZD/USD, but got knocked out in gold. The market remains noisy as it spikes at one minute and dips at another, making it hard for traders to stay with stop loss orders.

AUD/USD – Active Signal

AUD/USD is looking bearish after breaking below the 0.7080 key support level. The pair has a bearish trend line and 50 periods EMA, which is pushing the commodity currency lower. We continue to prefer selling short on any pullback whilst price is contained under 0.7080 area.

AUD/USD – 120min.

Cryptocurrency Update

On Thursday, the crypto leader BTC/USD turned down from the overhead resistance of $3,960. The prices remain subdued below the 20 and 50-day EMA. It is currently trying to stay above the support at $3785. The price is stuck between $4,255 and $3,785.

A break below $3,785 will determine the next movement in Bitcoin and the most likely target is $3,560.

BTC – 140min.

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