Technical Analysis of the Forex Market for 12/15/2023
Hello. Below are several recommendations for trading on the Forex market for 12/15/2023
EURUSD
On the EURUSD pair, we reached the targets in the FVG at 1.0912 and slipped through it without noticing. It is reasonable and logical to wait for the highs to be updated and for the 1.1047 level to be taken. Price Action buy signals can be looked for intraday if we give a pullback back to the FVG, somewhere around 1.0935.
XAUUSD
On Gold, we took out the highs of several previous days at 2041.16. I am already starting to want to look for sells, but no confirmations are visible yet. I will watch the situation; I think we will not go much higher. The targets below are attractive, around the FVG at 1955.23 and lower, the minimum at 1931.52.
Fundamental Review
Bank of England Governor Andrew Bailey
On Thursday, the second day of important news from Central Banks ended. The “freeze banner” from the hands of the US Fed was picked up by the Central Banks of Switzerland, the European Union, and the Bank of England.
The market reacted to such decisions as expected, with growth in stock indices, except for Japan, whose Central Bank may abandon its many-year soft policy as early as next week, and Germany, which is in a budget crisis.
Asia-Pacific Region
- Nikkei 225 – 0.73%
- Hang Seng + 1.07%, SCI300 – 0.52%, Shanghai – 0.33%
- S&P/ASX 200 + 1.65%
- KOSPI + 1.34%
The last day of the week began with important statistics
- New Zealand PMI
- Australia PMI
- China retail sales and industrial production
USA
- Dow Jones + 0.43%
- NASDAQ + 0.19%
- S&P500 + 0.26%
Evening statistics:
- 16-30 – New York Fed PMI
- 17-15 – US industrial production
- 17-45 – US S&P Global PMI
- 20-25 – Speech by the head of the Bank of Canada
Eurozone
- DAX – 0.08%
- CAC40 + 0.59%
- FTSE100 + 1.33%
Main events of the European session:
- 11-30 – Germany PMI
- 12-00 – Eurozone PMI
- 12-30 – UK PMI
Cryptocurrency News
The capitalization of cryptocurrencies managed to advance to the $1.62 trillion mark, but Bitcoin failed to consolidate above $43000. Talk about the need to regulate digital assets in the Old and New Worlds, which mainly carries restrictive proposals, is preventing full-fledged growth from developing.
Changes to laws at the level of New York State, the most “moneyed” and cryptocurrency-friendly place in the US, forced Kucoin to leave after paying a $22 million fine for trading securities without a license
The most important event of the day was the hack of the Ledger application. The cold wallet itself reliably stores assets without having an Internet connection. When the user “goes online” to make transactions, they use the now-compromised Connect Kit software. The damage amounted to $600 thousand; the developers fixed the problem.
Sincerely, Artem aka TeaDrinker
TradeLikeaPro