Live Forex Trading – EURUSD, GBPUSD & XAUUSD NEAR TERM SHORT TRADE SETUPS

Welcome Forex traders, to our daily Forex technical analysis breakdown. In today’s live trading session, we provided potential trade setups for EURUSD, GBPUSD & XAUUSD using our price action trading strategy, We also discussed the high impact fundamental events for the week, mainly the ECB, FOMC, and UK election.

Last week’s Non-Farm Payroll (NFP) results were better than expected, with the US Economy adding 266,000 jobs and lowering unemployment to a 50-year low of 3.5%. We saw majority of the majors fall against the US Dollar. Today, we noticed the majors are making a minor retracement before potentially pushing lower. All trade signals are currently pending for entry. We will send further updates on RP Forex’s Telegram Channel which will be free until the end of 2019.

Although, volume tends to dwindle down during the month of December, this week’s fundamental schedule will be the last surge in volatility before the holidays. The madness will start on Wednesday, with the ECB rate decision and the FOMC rate decision, On Thursday, we will have the UK Elections during the day. The result of the election will be a major cause for volatility across all pairs, not just the Pound. Lastly, on Friday we have US Core Retail sales data being released.

This week will be the last full week of normal trading conditions before we will start to notice a decrease in volatility and overall market movement. Although there is an eagerness to enter trades before year end, but we must trade with caution. This week will start off rather calm, so we will look to enter trades during the next 48 hours. Have a wonderful day traders, and please trade responsibly.