US stock indices are beginning to look increasingly heavy following Thursday’s selloff, although any follow-through (or a continuation of the recent rally) will depend on any upcoming headlines regarding the US tax bill, so a cautious approach is required. The medium term charts do look heavy though. Elsewhere, the Euro currently looks better bid and further minor gains seem possible but as long as we remain under the H/S neckline, on a daily close basis, I prefer to remain short. Elsewhere, with little data out from either Europe or the US, I suspect we are probably in for a sideways, choppy end to the week although any tax-bill headlines could produce something directional.
*Trade of the day: 11/10/2017 8:30 AM (AET)……
Sell EurUsd @ 1.1675 & @ 1.1700. SL @ 1.1730, TP @ 1.1500
Buy US$Chf @ 0.9895. SL @ 0.9860, TP @ 1.0025
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.