top of page

Trading Insights: Forex Signals & Analysis for Dec 15, 20233

  • ECB & BOE Reluctant to Cut Rates: Unlike the Fed, both the European Central Bank and the Bank of England are hesitant to implement rate cuts soon.

  • Central Bank Leaders Cautious: ECB's Lagarde and BOE's Bailey emphasize ongoing inflation concerns, not ready to ease monetary policy.

  • BOE's Tight Policy Stance: Some BOE members even support a rate hike, indicating a preference for tight monetary control.

  • Market Expectations Differ: Investors anticipate rate cuts in Europe, but central banks are yet to align with these expectations.

  • Fed's Influence Dominant: Powell's statements influence global markets, but European central banks maintain a cautious approach.

  • BOE More Hawkish than ECB: The Bank of England is considering further hikes due to higher UK inflation, in contrast to the ECB's stance.

  • Global Markets React to Fed: Global financial markets are adjusting based on the Fed's pivot, with expectations of eventual rate cuts in Europe.


DXY Dollar Index, A financial chart depicting the with technical indicators including candlesticks, Bollinger Bands, Ichimoku Cloud, and volume bars. The chart also features an RSI indicator below, signalling recent market volatility.
Dollar Index

Today's Intraday Forex Signals


Promotional banner for Vantage Markets highlighting oil trading with a clickable 'Trade Now' button. It features oil barrels against a backdrop of fluctuating market graphs, inviting users to explore oil trading, referred to as 'Black Gold'. The company's logo and risk disclaimer are at the bottom.



Intraday Forex Signal: XAUUSD


Pair: XAUUSD (Gold Spot vs. U.S. Dollar)


Trade Direction: BULLISH


Given the current position above the pivot point and the recent trend, the expectation is for gold to continue its upward trajectory.


Trade Probability: Approximately 65%

The likelihood of a continued upward movement is reasonably high, given the supporting indicators and pivot point analysis.


Yesterday's Trend: The chart shows a bullish reversal, indicating potential for continuation.


Pivot Point Analysis:

  • Current Price: Above the Pivot Point of $2,037.013

  • This placement indicates upward pressure and a bullish bias for the day.


Indicators:

  • Volatility: The widening of the Bollinger Bands on the chart suggests increased volatility, potentially favoring stronger moves.

  • Moving Average (MA): The price is currently above the Moving Average, hinting at a maintained uptrend.

  • Ichimoku Cloud: With the price above the cloud, the Ichimoku indicator confirms a bullish sentiment.

  • Relative Strength Index (RSI): The RSI is trending upwards, not yet in overbought territory, indicating room for upward movement.

  • Bollinger Bands: The proximity to the upper band signals strength in the current trend but warrants caution for potential resistance.


🎯 Targets for Taking Profits:

  • 1st Target (1st Resistance): $2,045.977

  • 2nd Target (2nd Resistance): $2,056.303

  • 3rd Target (3rd Resistance): $2,065.267


❌ Stop Loss Guidelines:

  • Stop Loss for Buy (Long) Position: Place stop loss slightly below the 1st Support level at $2,026.687 to protect against a sudden bearish reversal.


Suggestion:

  • Enter a long position with the aforementioned profit targets and stop loss guideline. Monitor the indicators for changes in market conditions, adjusting your positions accordingly.


Intraday Forex Signal: WTI (Crude Oil)


Pair: WTI (West Texas Intermediate Crude Oil)


Trade Direction: BEARISH

The chart indicates a downtrend with the price currently around the pivot point. The price being below the first resistance level signals potential bearish momentum.


Trade Probability: Approximately 60%

There's a moderate chance of continuation of the downward trend, based on current indicators and pivot point positioning.


Yesterday's Trend: The trend showed a decline, which aligns with the bearish outlook for today's session.


Pivot Point Analysis:

  • Current Price: Near the Pivot Point of $71.83

  • This proximity to the pivot point suggests a potential shift in market sentiment, necessitating close monitoring.


Indicators:

  • Volatility: The Bollinger Bands indicate a contraction in volatility, which could lead to a breakout. The direction of the breakout will be crucial to confirm the trade direction.

  • Moving Average (MA): If the price remains below the MA, it could reinforce the bearish trend.

  • Ichimoku Cloud: A price below the cloud would signify a bearish market, but this needs confirmation.

  • Relative Strength Index (RSI): An RSI trending downwards toward the oversold territory would support the bearish stance.

  • Bollinger Bands: Currently, the price is in the lower half of the bands, which supports a bearish move. However, watch for a potential squeeze that could change the direction.


🎯 Targets for Taking Profits:

  • 1st Target (1st Support): $71.2067

  • 2nd Target (2nd Support): $70.83

  • 3rd Target (Third Support): $70.21


❌ Stop Loss Guidelines:

  • Stop Loss for Sell (Short) Position: Place stop loss just above the 1st Resistance level at $72.21 to protect against a sudden bullish reversal.


Suggestion:

  • Consider entering a short position, aiming for the specified profit targets with a strict stop loss to manage risk. Keep an eye on the indicators for any signs of a change in trend.



Promotional banner for Vantage Markets highlighting oil trading with a clickable 'Trade Now' button. It features oil barrels against a backdrop of fluctuating market graphs, inviting users to explore oil trading, referred to as 'Black Gold'. The company's logo and risk disclaimer are at the bottom.


Intraday Forex Signal: EURUSD (Euro / U.S. Dollar)


Pair: EURUSD (Euro / U.S. Dollar)


Trade Direction: NEUTRAL TO BULLISH

The chart and pivot point data show the price hovering around the pivot point, with a slight bullish bias as it's above the 1st support level.


Trade Probability: Approximately 60%

The close proximity to the pivot point with no clear breakout suggests a cautious approach, but the bullish bias gives a moderate probability of an upward trend.


Yesterday's Trend: The trend was relatively flat, suggesting indecision in the market, which supports the neutral to bullish stance.


Pivot Point Analysis:

  • Current Price: Just above the Pivot Point of 1.096

  • The price action near the pivot point suggests a potential for either direction, with a slight leaning


Indicators:

  • Volatility: Bollinger Bands are moderately wide, suggesting a normal level of volatility.

  • Moving Average (MA): Price above the MA would support a bullish outlook.

  • Ichimoku Cloud: If the price is above the cloud, it indicates bullish potential.

  • Relative Strength Index (RSI): An RSI above 50 but not overbought could indicate that there is room for upside.

  • Bollinger Bands: If the price is in the upper half of the Bollinger Bands, it would support a bullish move.


🎯 Targets for Taking Profits:

  • 1st Target (1st Resistance): 1.105

  • 2nd Target (2nd Resistance): 1.1099

  • 3rd Target (3rd Resistance): 1.1187


❌ Stop Loss Guidelines:

  • Stop Loss for Buy (Long) Position: Place stop loss just below the 1st Support level at 1.0907 to mitigate risk in case of a downward movement.


Suggestion:

  • Engage in a cautious long position, watching for a definitive breakout above the pivot point to confirm the bullish trend. Set profit targets conservatively with a close stop loss due to the neutral stance.



Intraday Forex Signal: GBPUSD (British Pound / U.S. Dollar)


Pair: GBPUSD (British Pound / U.S. Dollar)


Trade Direction: BULLISH

The chart suggests a slight upward trend with the price above the pivot point. The recent candles indicate bullish momentum.


Trade Probability: Approximately 70%

The price being above the pivot point with consistent higher lows gives a strong indication of bullish sentiment.


Yesterday's Trend: The previous session closed on an uptrend, providing a good base for a bullish outlook today.


Pivot Point Analysis:

  • Current Price: Above the Pivot Point of 1.2724

  • The price holding above the pivot suggests bullish market sentiment.


Indicators:

  • Volatility: The Bollinger Bands are moderately spaced, indicating steady volatility suitable for trend following.

  • Moving Average (MA): If the price stays above the MA, it confirms the current bullish trend.

  • Ichimoku Cloud: Price above the Ichimoku cloud would be another bullish signal.

  • Relative Strength Index (RSI): An RSI above 50 but not overbought suggests bullish momentum is not yet exhausted.

  • Bollinger Bands: Price positioned near the upper Bollinger Band supports the bullish trend, but caution is needed as it approaches resistance.


🎯 Targets for Taking Profits:

  • 1st Target (1st Resistance): 1.2838

  • 2nd Target (2nd Resistance): 1.2908

  • 3rd Target (3rd Resistance): 1.3022


❌ Stop Loss Guidelines:

  • Stop Loss for Buy (Long) Position: Set the stop loss just below the 1st Support level at 1.2654 to protect against a shift in trend.


Suggestion:

  • A long position could be entered with the specified targets, closely watching the RSI and Bollinger Bands for signs of overbought conditions or resistance levels being tested.



Intraday Forex Signal: USDJPY


Pair: USDJPY (U.S. Dollar / Japanese Yen)


Trade Direction: BEARISH

The chart indicates a downward trend with the price below the pivot point. The recent candles demonstrate bearish momentum.


Trade Probability: Approximately 70%

The price is currently below the pivot point, and the indicators suggest a strong probability of continuation of the bearish trend.


Yesterday's Trend: The closing trend was bearish, which could potentially extend into today's session.


Pivot Point Analysis:

  • Current Price: Below the Pivot Point of 141.91

  • The position of the price suggests bearish market sentiment for the day.


Indicators:

  • Volatility: The Bollinger Bands show an expansion, indicating increased market volatility and potential for larger moves.

  • Moving Average (MA): Price below the MA supports the bearish trend.

  • Ichimoku Cloud: If the price is below the Ichimoku cloud, it would confirm the bearish sentiment.

  • Relative Strength Index (RSI): An RSI trending below 50 supports the bearish outlook.

  • Bollinger Bands: Price near the lower Bollinger Band indicates the market is in a downtrend, but watch for potential bounces as it approaches support levels.


🎯 Targets for Taking Profits:

  • 1st Target (1st Support): 140.94

  • 2nd Target (2nd Support): 139.98

  • 3rd Target (Third Support): 139.01


❌ Stop Loss Guidelines:

  • Stop Loss for Sell (Short) Position: Place stop loss just above the 1st Resistance level at 142.87 to protect against a reversal to the upside.


Suggestion:

  • Short selling may be considered with the targets provided. Maintain strict risk management by setting a clear stop loss due to the bearish stance and monitor the RSI and lower Bollinger Band for signs of potential trend exhaustion or reversal.



Intraday Forex Signal: USDCHF


Pair: USDCHF (U.S. Dollar / Swiss Franc)


Trade Direction: BEARISH

The chart shows a price movement below the pivot point and a downward trend, suggesting bearish momentum for the USD against the CHF.


Trade Probability: Approximately 65%

The bearish momentum is supported by the technical indicators and the price's position in relation to the pivot point.


Yesterday's Trend: The previous session ended lower, indicating that the bearish trend may continue.


Pivot Point Analysis:

  • Current Price: Below the Pivot Point of 0.8680

  • This indicates a bearish sentiment for the trading session.


Indicators:

  • Volatility: The Bollinger Bands indicate a stable level of volatility, suitable for the continuation of the trend.

  • Moving Average (MA): Price below the MA would confirm the bearish trend.

  • Ichimoku Cloud: Price below the cloud would further indicate bearish pressure.

  • Relative Strength Index (RSI): An RSI below 50 suggests that there could be more room for downward movement.

  • Bollinger Bands: The price near the lower band suggests that the market is trending downwards.


🎯 Targets for Taking Profits:

  • 1st Target (1st Support): 0.8627

  • 2nd Target (2nd Support): 0.8577

  • 3rd Target (Third Support): 0.8524


❌ Stop Loss Guidelines:

  • Stop Loss for Sell (Short) Position: Set the stop loss just above the 1st Resistance level at 0.8730 to minimize risk in case of a reversal.


Suggestion:

  • Consider a short position with the profit targets listed, and set a stop loss to manage risk. Monitor key indicators for any signs of a trend reversal or potential support levels where the price could bounce back.



Intraday Forex Signal: NZDUSD


Pair: NZDUSD (New Zealand Dollar / U.S. Dollar)


Trade Direction: BULLISH

The chart shows the price action trending above the pivot point, with an upward trajectory, indicating a bullish stance for the NZD against the USD.


Trade Probability: Approximately 65%

The price's position above the pivot point, along with supporting technical indicators, suggests a good chance of continued upward momentum.


Yesterday's Trend: There was a slight uptick at the close, which suggests bullish sentiment may carry over into today's session.


Pivot Point Analysis:

  • Current Price: Above the Pivot Point of 0.6210

  • This positioning indicates a bullish bias for the trading day.


Indicators:

  • Volatility: The Bollinger Bands are moderately wide, indicating a stable level of volatility with room for price movement.

  • Moving Average (MA): If the price remains above the MA, it will support the bullish trend.

  • Ichimoku Cloud: Price above the cloud would reinforce the bullish signal.

  • Relative Strength Index (RSI): An RSI above 50, leaning towards overbought territory, suggests bullish momentum.

  • Bollinger Bands: The price is near the upper band, indicating bullish strength, but caution is warranted as it may approach overbought conditions.


🎯 Targets for Taking Profits:

  • 1st Target (1st Resistance): 0.6249

  • 2nd Target (2nd Resistance): 0.6291

  • 3rd Target (3rd Resistance): 0.6330


❌ Stop Loss Guidelines:

  • Stop Loss for Buy (Long) Position: Set the stop loss just below the 1st Support level at 0.6168 to manage risk effectively.


Suggestion:

  • A long position could be considered with the provided profit targets. It’s important to monitor the trade closely, especially as the price nears resistance levels where it could potentially reverse.



Intraday Forex Signal for AUD/USD


Pair: AUDUSD (Australian Dollar / U.S. Dollar)


Trade Direction: BULLISH

The chart reveals a price movement trending above the pivot point, suggesting bullish momentum for the AUD against the USD.


Trade Probability: Approximately 70%

The price's position above the pivot point, in conjunction with the other technical indicators, suggests a strong chance of continued upward movement.


Yesterday's Trend: The session closed with an upward direction, reinforcing today's bullish outlook.


Pivot Point Analysis:

  • Current Price: Above the Pivot Point of 0.6694

  • The price remaining above the pivot point is indicative of a bullish trend for the session.


Indicators:

  • Volatility: The Bollinger Bands are of moderate width, suggesting room for price movement within current volatility levels.

  • Moving Average (MA): Price above the MA confirms the bullish trend.

  • Ichimoku Cloud: A position above the cloud would provide additional bullish confirmation.

  • Relative Strength Index (RSI): An RSI above 50, pointing upwards, indicates the potential for continued bullish momentum.

  • Bollinger Bands: The price nearing the upper band is a sign of bullish strength, but watch for any pullbacks as it could indicate overbought conditions.


🎯 Targets for Taking Profits:

  • 1st Target (1st Resistance): 0.6734

  • 2nd Target (2nd Resistance): 0.6768

  • 3rd Target (3rd Resistance): 0.6808


❌ Stop Loss Guidelines:

  • Stop Loss for Buy (Long) Position: Place the stop loss just below the 1st Support level at 0.6660 to limit potential downside risk.


Suggestion:

  • Entering a long position could be considered with the targets provided above. It’s prudent to keep an eye on the RSI and the upper Bollinger Band for signs of the market entering overbought territory, which may precede a reversal.



Intraday Forex Signal for USD/CAD


Pair: USDCAD (U.S. Dollar / Canadian Dollar)


Trade Direction: BEARISH

The chart indicates a downtrend with the price currently below the pivot point, suggesting bearish momentum for the USD against the CAD.


Trade Probability: Approximately 65%

The position of the price below the pivot point, along with downward trending indicators, gives a reasonably high probability to the continuation of the bearish trend.


Yesterday's Trend: The trend was bearish, and the closing price indicates the momentum could continue into today's session.


Pivot Point Analysis:

  • Current Price: Below the Pivot Point of 1.3442

  • This suggests that the bearish sentiment in the market may persist throughout the trading day.


Indicators:

  • Volatility: The Bollinger Bands are wide, indicating an increased level of volatility and potential for strong price movements.

  • Moving Average (MA): Price below the MA reinforces the bearish trend.

  • Ichimoku Cloud: Price below the cloud would be indicative of a bearish outlook.

  • Relative Strength Index (RSI): An RSI below 50 supports the bearish trend.

  • Bollinger Bands: The price is trending towards the lower band, confirming the market's inclination to move downward.


🎯 Targets for Taking Profits:

  • 1st Target (1st Support): 1.3362

  • 2nd Target (2nd Support): 1.3314

  • 3rd Target (Third Support): 1.3234


❌ Stop Loss Guidelines:

  • Stop Loss for Sell (Short) Position: Set the stop loss just above the 1st Resistance level at 1.3490 to manage risk effectively.


Suggestion:

  • A short position may be considered with the aforementioned targets, and traders should monitor the indicators and market news closely for signs of a trend reversal or breakout.



Intraday Forex Signal for EUR/GBP


Pair: EURGBP (Euro / British Pound)


Trade Direction: NEUTRAL TO BULLISH

The chart indicates a consolidation with the price hovering around the pivot point. The recent price action suggests potential for a bullish trend but warrants a cautious approach due to the lack of a clear directional signal.


Trade Probability: Approximately 55%

The proximity to the pivot point indicates uncertainty, giving a slightly better than even chance of an upward movement if bullish signals strengthen.


Yesterday's Trend: The market closed with minimal movement, which does not provide a strong indication for today's direction.


Pivot Point Analysis:

  • Current Price: Near the Pivot Point of 0.8612

  • The price's position around the pivot point suggests a decision point for the market direction.


Indicators:

  • Volatility: The Bollinger Bands are of moderate width, indicating neither high nor low volatility, which is typical of a market in consolidation.

  • Moving Average (MA): The price near the MA suggests a balanced market.

  • Ichimoku Cloud: If the price is within the cloud, it would indicate a lack of trend.

  • Relative Strength Index (RSI): An RSI around the 50 level indicates a lack of momentum.

  • Bollinger Bands: The price residing near the middle band suggests that the market is in equilibrium without a clear trend.


🎯 Targets for Taking Profits:

  • 1st Target (1st Resistance): 0.8638

  • 2nd Target (2nd Resistance): 0.8662

  • 3rd Target (3rd Resistance): 0.8688


❌ Stop Loss Guidelines:

  • Stop Loss for Buy (Long) Position: Set the stop loss just below the 1st Support level at 0.8588 to limit downside risk.


Suggestion:

  • Given the neutral to slightly bullish outlook, a cautious long position could be considered if the price shows signs of breaking above the pivot point. Traders should watch for confirmation signals and be ready to exit if the market moves against the position.

 

Disclaimer: These trading signals is based on the current chart and market conditions. Always conduct your own analysis and consider risk management strategies before entering any trade. Markets are dynamic, and conditions can change rapidly.


As with all investments, your capital is at risk. Investments can fall and rise and you may get back less than you invested.



The information provided does not constitute, in any way, a solicitation or inducement to buy or sell securities and similar products.



Forex signals ,comments and analysis reflect the views of CHAMP PROFIT at any given time and are subject to change at any time. ©2023 by Champ Profit.



Comments


Commenting has been turned off.
bottom of page