1 Feb: Trend table outlook for FX, Commodities, Indices.

By | February 1, 2018

Stock markets are looking increasingly heavy and the current correction may well have further to go so selling rallies seems to be the plan here. Elsewhere the picture is rather unclear although the daily charts are indicating that the US$ may have run much of its course with regards to the recent weakness and a basing (or topping ) formation seems to be forming against the other currency counterparts. US$Jpy in particular may be building a basing formation.

on the crosses, Sterling seems to be relatively bid, at least in the short term, while the Aud$ is looking rather heavy.

*Trade of the day: 2/1/2018 8:40 AM (AET)……

*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.

Buy US$Jpy @ 108.60. SL @ 108.15, TP @ 106.65

Sell AudUsd @ 0.8100. SL @ 0.8120, TP @ 0.7985