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

Gold


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.

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SILVER

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.


EURUSD:

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




USDCHF:

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


USDJPY:

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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