Forex Signals Brief, Dec 31: A Day Before New Year 2019

Posted Monday, December 31, 2018 by
Arslan Butt • 1 min read

Good morning, traders.

With limited data on the economic calendar, the current week is mostly about trading the technical levels. The financial markets are likely to concentrate on the political headline as Donald Trump refused to budge in his demand for billions for a border wall, narrowing prospects for a swift end to an increasingly damaging government shutdown. Today, the global financial markets will remain closed in observance of New Year’s Eve, so keep an eye on FX Leaders’ technical setups.

Forex Signal Update
Team FX Leaders closed a pretty strong week. Despite the thin trading volume, we got 8 winners and only 2 losers, marking an 80% success rate. At the moment, we have EUR/USD, NZD/USD and AUD/USD signals in place.

EUR/USD – Active Signal
EUR/USD is looking bullish after breaking above the 1.1450 key resistance level. The pair continues to trade sideways in a trading range of $1.1475 – $1.1420. We continue to prefer doing choppy trading, by selling at top and buying at the bottom.

Today, the price continues to be supported above the $1.1420 support region, giving us our first trade signal for the day.

EUR/USD – 120min.

Cryptocurrency Update

The crypto leader BTC/USD found some support several times now at $3,860. The market trades sideways as traders are out of the market over new year holidays. On the upper side, the resistance stays at $4,080. Since the market is already holding below the psychological level of $ 4,000, this level will now work as a resistance and the market can keep tossing BTC/USD in between $4,000 – $3,850.

Support    Resistance
3659.18     4035.73
3429.51     4182.61
3052.96    4559.16
Key Trading Level: 3806.06

BTC – 140min.

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