December 6, 2022

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Learn To Trade Forex

Trade ideas from FBS

Trade ideas from FBS

The US
central bank turned the market upside down. It signaled that higher inflation
is a concern and that it’s considering tapering policy. The USD soared versus
other major currencies, while gold headed for the biggest weekly loss in 15
months. Let’s see what new moves await us this week!

Trade ideas

EUR/USD

The
outlook for the USD is now strong, so levels below 1.20 may be more appropriate
for EUR/USD. Traders will continue monitoring comments from the ECB and the Fed
that are expected on Monday and Tuesday, Wednesday, and Thursday respectively.
Overall, it won’t be easy for EUR/USD to recover.

GBP/USD

The
British pound will be in the center of the market’s attention not only versus
the US dollar, but also against the euro, the yen, and other currencies as
everything will depend on the Bank of England’s policy statement that will be
out on Thursday. If the UK central bank follows the path of the Federal Reserve
and acknowledges economic recovery and inflation, the GBP will recover.
Otherwise it will fall.

Gold

The
yellow metal dropped below $1800, as the Fed’s talk about policy normalization
makes gold less attractive to investors. XAU/USD will remain under pressure as
long as the price is staying below $1855. Market players will likely keep
selling gold on recoveries.

Oil

At the
start of last week, Brent rose to the highest levels since 2018 above $73 a
barrel. Then there was a correction down on the Fed’s press conference. Still,
global economic recovery and rising demand are going to keep the price
supported, so the idea is to keep looking for buy opportunities. 

Risk
warning

The
following information is not investment advice. Remember that trading is risky.
Manage your funds carefully and remember that you can use Take Profit and Stop
Loss orders to maximize your gains and limit your losses.

TRADE
NOW




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