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EUR Rebound? Range Trading USDCHF and Gold.

   

Welcome to this week’s Market Blast Technicals.

Free Valutrades Signals!  Click here: https://www.valutrades.com/en/trading-signals

I’m Brad Alexander and on behalf of Valutrades, today we will look at USDTRY, GBPAUD, EURUSD, EURGBP, Gold (XAUUSD) and USDCHF.

 

We see a ranging market in USDCHF with the classic trading opportunities with price action passing through upper and lower Bollinger Bands and confirmation from the Stochastic Oscillator.Screenshot 2021-12-21 at 12.28.13

With typical low liquidity, this ranging market may continue with many more opportunities for you.Screenshot 2021-12-21 at 12.28.28

The same situation is appearing with Gold as it ranges between lows of $1762 and $1810.

We saw an obvious narrower range in between, with the corresponding confirming indicators.Screenshot 2021-12-21 at 12.28.53

EUR is trying to rebound against all currencies except CHF.Screenshot 2021-12-21 at 12.29.06

However, EURGBP has hit resistance with lower highs and lower lows and with the Stochastic Oscillator turning lower from overbought.Screenshot 2021-12-21 at 12.29.20

Price Action on GBPAUD is forming a symmetrical pennant so we will be looking for a breakout soon.

Yesterday we looked at a potential reversal on USDTRY and price reached well over 18 Lira to the Dollar.Screenshot 2021-12-21 at 12.29.34

Turkish president Erdogan has indicated that more Interest Rate cuts (which is bad) will be coming but he offered deposit guarantees on Turkish Lira (which is good) and we can see what happened.

However, as we speak, TRY is getting weaker again.

See you soon and have a great Christmas!

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That’s all for now.  Happy trading with Valutrades and we will see you next time.

CFDs and FX are leveraged products and your capital may be at risk.21 December 2021 Technicals EN TN

 

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

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