Daily Forex Brief, December 09 - Top 5 Forex Trading Signals!


A closer look at Gold price action shows trading within the confines of descending line along with a Down Curve on MACD. Prices might hit the 1875.0 high for a double top.

The market is sliding back into bear trending and positioned to attack last Friday’s reversal low. A close under 1860.0 projects a larger selling wave to 1811.0 - 1777.0.



Silver prices continue to struggle so far this week despite a lackluster US Dollar. Prices might hit the $24.84 high for a double top. The market is sliding back into bear trending and positioned to attack last Friday’s reversal low. A close under $23.52 projects a larger selling wave to $22.62 - $21.55.


The EURUSD market posture is negative. The slide back through last Wednesday’s reversal leaves trade positioned to continue attacking under 1.2040. A close under 1.2030 projects to 1.1930. Any near term rebounds will find resistance at 1.2140. R2 1.2140 R1 1.2120 S1 1.2080 S2 1.2058


The USDCHF market is curving up on MACD still, giving friendly signals for rallies to attack the 0.8962 swing high. A close over 0.8962 should spark moves to a previous weekly downturn level around 0.9030, when broken ⇒ 0.9130 during this week. R2 0.8930 R1 0.8905 S1 0.8869 S2 0.8844


The Japanese Yen spent most of this past week trading sideways against its major counterparts, including the USDOLLAR. USD/JPY aimed lower as Treasury yields weakened, making government bonds in Japan relatively more attractive to investors. In fact, following some divergence ahead of the US presedential election, USD/JPY now seems to be tracking bond yield spreads between the US and Japan again.

The USDJPY held firm showing a degree of calm, ranging between 104.75 and 103.70. For the last two weeks, the Yen stood flat with a tight range. R2 104.65 R1 104.37 S1 103.91 S2 103.63

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