Daily Forex Brief, December 08 - Top 5 Forex Trading Signals!

Gold


Gold continued to recover Tuesday morning in Asia, as new pandemic-related restrictions took effect around the world and stock markets in the U.S. broke a four-day winning streak. The prospects are improving for gold to march back towards the $1,900 mark, partly boosted by the increasing likelihood that the U.S. government will reach a budget deal, which would avoid a shutdown, and also issue another round of stimulus worth about $908 billion to shore up a flagging economic rebound from a surging COVID-19 pandemic. The rallies from last week still hint for a short term trend shift to the upside. Look for attempts to extend rallies, but trade will need to post a close over 1874.0 to attack the previous swing high peaking levels. Be careful for another corrective congestion day. A close under 1811.0 is bearish and suggests a selling wave to new lows and possibly 1780.0.

FREE FOREX TRADING SIGNALS



SILVER

The rallies from last week still hint for a short term trend shift to the upside. Look for attempts to extend rallies, but trade will need to post a close over $24.77 to attack the previous swing high peaking levels. Be careful for another corrective congestion day. A close under $23.51 is bearish and suggests a selling wave to new lows and possibly $22.45.



EURUSD:

The EURUSD market is showing a bear downturn and potential for a selling wave to 1.2074 as well as potential to 1.2050 for today. A drop through 1.2030 will foster continuation selloffs today. Any congestion under Monday’s range high will keep the market setup in a bear flag. R2 1.2147 R1 1.2126 S1 1.2080 S2 1.2050



USDCHF:

The USDCHF market is curving up on MACD and giving friendly signals for rallies to attack the 0.8947 swing high. A close over 0.8947 should spark moves to a previous weekly downturn level around 0.9030, when broken ⇒ 0.9130 during this week.

R2 0.8947 R1 0.8922 S1 0.8886 S2 0.8861


USDJPY: In Asia, the USDJPY added 0.02% to 104.04. Japan’s Prime Minister Yoshihide Suga said Tuesday his administration will compile a new COVID-19 economic stimulus package worth JPY73.6 trillion ($708 billion), with fiscal measures at JPY 40 trillion ($385 billion). The USDJPY still in a Sideways status 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 104.53 R1 104.25 S1 103.70 S2 103.53



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