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ECB interest rate decision. EUR/USD & Gold analysis for 17 – 21 December, 2018

     I hope you made nice profits last week following my previous forecast. Today I want to focus on EUR/USD. Last week ECB left interest rate unchanged and announced the end of their bond buying program. It gave more pressure on EU currency. 

     Besides, trading conflicts and Brexit will bring more weakness to EUR. This week I expect to see consolidation in the range 1.12500 – 1.13500 and a lot of choppiness. You can for scalping opportunities or wait till rejection near 1.13500. If that happens, I will open shorts on managed accounts with target 1.11500. And from this level I expect an impulsive move up. Well, this is only forecast and you have to wait for price action confirmation before taking a trade. It’s a trading – things can change very fast and you have to be flexible. But I always update my trading signals subscribers about all changes.


     Last week gold market declined. I still wait for my entry point near 1260 range. For now we are in the 4th wave. I don’t like to trade this wave as usually its very choppy. However, if waiting makes you crazy look for buy signals in the range 1222 – 1234 with target 1260 or stick to scalping with small lots. I think we have 3 – 5 weeks to reach 1260. But it will be nice swing trade with 1140 as a target. Great risk/reward – what else is needed?


    By the way, last week my article ‘5 Tips to Overcome Fear of Investing’ was published at equities .com. So, if you have fear, guess what you have to read today… 🙂

 

Good luck and good trading!