FOREX INSIGHTS 29-DEC-2018

EUR/USD:

• EUR/USD is poised to close nearly 5% lower year-to-date with the pair trading just 1.5% off the 2018 lows.

• For months now, we’ve been tracking a key support pivot in Euro and the focus remains on a breakout of the consolidation range which has governed price since October.

• Price holding critical support confluence at 1.13

GBP/USD:

• Sterling is facing resistance and rallied a bit during the week, reaching towards the 1.27 level.

• The British pound has broken through a significant support a couple of candlesticks ago, and it now looks as if it is offering resistance yet again.

• GBP will continue to struggle, and the breakdown from a couple of candlesticks ago suggests that we are trying to make the next leg lower.

USD/JPY:

• Traders have remained net-long since Dec 18 when USDJPY traded near 112.517; price has moved 1.9% lower since then.

• The percentage of traders net-long is now its highest since Mar 11 when USDJPY traded near 106.9.

• The number of traders net-long is 8.7% higher than yesterday and 2.7% higher from last week, while the number of traders net-short is 14.5% lower than yesterday and 17.2% lower from last week.

CRUDE OIL:

• U.S. oil futures finished higher Friday after government inventory data showed a smaller-than-expected fall in crude inventories, but contrasted with unofficial figures that had showed a massive supply build, sparking a relief rally.

• West Texas Intermediate(WTI) crude for February delivery rose 72 cents, or 1.6%, to end at $45.33 a barrel.

• Oil booked a weekly decline of 0.6% based on last Friday’s settlement.

GOLD:

• Gold prices pressed higher on Thursday as a record surge in stocks showed signs of fading and political uncertainties supported demand for the safe haven metal.

• Gold futures for February delivery on the Comex division of the New York Mercantile Exchange rose $5.70, or 0.45%, to $1,275.45 a troy ounce.

• Gold surged 4% so far in December as investors rotated out of stocks and into the safe haven asset.

Join 300,000+ traders who stay ahead of the market, submit your details with us by filling our CONTACT FORM.

For the Best Forex Signal| Accurate Stock Signal| Profitable Comex Signals, Try Equidious Research Services. We have a team of best and well experienced Research Analysts.

Enjoy Trading!