Are you struggling to achieve profits in forex trading? In November we provided technical analysis in forex for AUD USD and EUR JPY which we still will keep an eye on. For the month of December, we are going to watch the GBP JPY and the EUR NZD, two very volatile and exciting pairs to trade. As usual, we will start out the month with a target trade and then go to regular, daily and hourly charts for the rest of the month. Let’s see how these pairs work out this month.
My trading strategy for achieving profits in forex trading
Do you wonder how I analyze the market and do my forex analysis? Pivot points and target trading are used to find the direction of the trades, a method that really helps me and makes profitable in most of the cases. I have already written an article where I explained in detail how target trading works.
GBP JPY signals
Update December 11, 2019
Monthly shows this pair still surging upward and a new target formed at 140.910 and 237 pips down. The second target at 137.323 is 583 pips further down. The rsi and cmo is just below the sell zone.
Weekly shows this pair just below the 143.709 another 55 pips up and then the 145.657 target, another 247 pips up. There are two targets down at 142.224 another 106 pips below current price and at 135.155 – another 820 pips further down again. The rsi and cmo is just below the sell zone skimming along until it makes up it’s mind which way it wants to go.
Daily shows this pair has a new target which is an extension of the old target at 143.053 which is 20 pips below current price. Another target at 142.071 would give 119 pips. The rsi and cmo is just below the sell zone and appears to be headed to the sell zone. Once it reaches the sell zone, I would be looking to sell but would also confirm with further updated charting.
EUR NZD signals
Updated December 11, 2019
Monthly shows this pair has taken a surge up, however it has a target at 137.323 which is 539 pips down. The RSI and CMO is just under the sell zone so I expect it to go up a little more before it heads it’s way down.
Weekly shows this pair hit the 1.68288 target and has now bounced back up and appears to be headed to the 1.71490 target – another 242 pips further up. The next target at 1.72463 – another 340 pips up and a further target at 1.75327 which is 627 pips up. The rsi and cmo appear to be in divergence, the rsi heading to the sell zone and the cmo squarely in the buy zone. This usually indicates a dramatic movement coming up, possibly this pair will trend once it makes up it’s mind to move.
Daily shows this pair has been moving up to the new target at 1.69258 – 18 pips up. There are three targets above this, 1.70591 which is 157 pips up, 1.71405 which is 237 pips up and 1.72257 which is 318 pips further up. The rsi and cmo are just below the sell zone which gives this pair room to move up to the first target of 1.69258. A close eye on this to see if it continues to move up or if it retraces a bit before it moves on to the second target of 1.70591.
EUR NZD signals
Monthly shows this pair hit the 1.68106 target and bounced back up headed towards the 1.72269 – another 312 pips up and the 1.74569 – another 549 pips up. The rsi is midway to the sell zone and the cmo is just underneath the sell zone indicating some further upward movement before it comes down again in a retracement.
Weekly shows this pair has two targets further up one at 143.709 which is 128 pips further up and another at 145.657 which is 322 pips further up. Remember these are fairly old targets and the older they get the more unlikely the trade will go-to target. There is a recent target down at 135.155 which is 742 pips down and with the RSI and the CMO both solidly just in the sell zone, I think this pair is headed down soon.
Daily shows this pair has no daily target at present. Therefore no trade for a daily trade until a new target presents itself.
EUR NZD signals
Monthly shows this pair has three targets. It has just had a large downtrend and seems to be heading to the target at 1.68106 which is 154 pips down. There are two targets up, the first one at 1.72269 which is 274 pips further up and the second at 1.74569 which is 498 pips further up. The RSI and CMO are solidly in the buy zone but still pointed down, so I expect this pair to reach the target at 1.68106 and then head back up to the most recent and closest target at 1.72269 – 274 pips upward.
Weekly shows this pair has three targets, all in the upward position. The first is 1.71490 which is 196 pips up, the second is 1.72463 which is 293 pips upward and the third is 1.75327 which is 576 pips further up. The RSI and CMO are both just above the buy position and headed down to that buy position. I expect this pair to go a little further down before it makes a u-turn and go back up.
Daily shows this pair also has three targets upward and has been on a downtrend for some time. The first target is 1.70591 which is 101 pips upward, the second target is 1.71405 which is 180 pips upward and the third and oldest target is 1.72257 which is 269 pips upward. Both the RSI and CMO have just left the buy zone to head back toward the sell zone and it looks like this pair agrees as already you can see it heading back up the ladder.
Are you struggling to achieve profits in forex trading?
All traders have good and bad times with their forex results. Maybe you just don’t feel ready to open new trades just based on the trading signals in this article. And that is okay. Never trade if you don’t feel comfortable. Sometimes the best thing a trader can do is to just rest and have a break. If you are tired of trading on your own, we have some good recommendations for you. We have covered plenty of trade-copiers here. Do you want to learn more about 7 of the most successful forex traders ever? We have just presented a very interesting list of legends of the Forex industry! If you want to learn some really effective Forex strategies, you should check out this article. Like every week, I’m super excited to share my fresh forex day trading tips with you, and I hope that everyone can maximize their profits based on my accurate forex trading signals.
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Was it helpful that I shared my signals with you here in the Forex and Profits community? What do you think will happen next with the AUD USD and EUR JPY currency pairs? I’d love to know what you thought of this article. Don’t forget to go to our facebook page and give us a “Like” and leave your comments.
The last weeks before Christmas are often slower than normal in the currency markets, but hopefully, we will achieve some nice profits in forex trading already now, before this year is over.