07.12.202312:05 Trade Analysis & Reviews: Forex forecast 12/07/2023: EUR/USD, USD/JPY and Gold from Sebastian Seliga

We introduce you to the daily updated section of Forex analytics where you will find reviews from forex experts, up-to-date monitoring of financial information as well as online forecasts of exchange rates of the US dollar, euro, ruble, bitcoin, and other currencies for today, tomorrow and this trading week.

Video Agenda:

01:16 Key economic events on December 7th 202302:32 Market events for the day's trading03:48 EUR/USD is approaching key levels and facing market resistance.05:04 EUR/USD currently close to key moving averages and resistance levels.06:20 EUR/USD & USD/JPY breakout to the downside07:36 The EUR/USD may move lower towards 146.24 and faces resistance at 146.69, with bulls needing significant effort to rally.08:52 Gold market trending up under bullish control10:02 Gold market outlook remains bullish with technical support at 2008 and 1986 levels.

Useful links:

My other articles are available in this section: https://www.instatrade.com/analytics_authors?author=46

InstaTrade course for beginners: https://www.instatrade.com/distance_training_program

Popular Analytics: https://www.instatrade.com/forex_analysis

Open trading account: https://www.instatrade.com/fast_open_new_account

Important:

The begginers in forex trading need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp market fluctuations due to increased volatility. If you decide to trade during the news release, then always place stop orders to minimize losses.

Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes. For successful trading, you need to have a clear trading plan and stay focues and disciplined. Spontaneous trading decision based on the current market situation is an inherently losing strategy for a scalper or daytrader.

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