13 Nov: Trend table outlook for FX, Commodities, Indices.

By | November 13, 2017

The US$ looks mixed at the beginning of the week although it does appear that the Euro could be heading higher over the next day or so. This would take out stops above the H/S neckline but would run into decent resistance above 1.17 and selling rallies is still preferred for now. Stocks look as though they are about to head a bit lower and if Trumps tax plan fails, then we could see a downside acceleration, which would also apply to the US$ in general. After Friday’s sharp selloff in the metals, the coming session looks as though further weakness may lie ahead, toward decent support at 1260 in the case of Gold. Further out, the metals looks as though they could continue within their recent respective ranges. On the crosses, the Euro looks placed to make minor gains against the Aud and the Jpy, and it may be that Sterling is building for another run to the topside although UK politics will decide whether that happens or not.

*Trade of the day: 11/13/2017 6:54 AM (AET)……

Buy WTI @ 56.25. SL @ 54.40, TP @ 59.00

Sell EurUsd @ 1.1690 & @ 1.1715. SL @ 1.1745 TP @ 1.1550

Buy GbpUsd @ 1.3160. SL @ 1.3095, TP @ 1.3275

Sell AudUsd @ 0.7680. SL @ 0.7710, TP @ 0.7580

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