15 June: Trend table outlook for FX, Commodities, Indices

By | June 15, 2018

The US$ looks a little more perky on Friday, particularly against the Euro following the dovish outlook from Mario Draghi at the ECB Press Conference. Trading it (Euro) from the short side seems to be the way to go, and I suspect that given the hawkish Fed outlook we can expect further downside momentum in the days ahead. The other US$/Majors look less certain in the medium term, but US$Jpy looks as though it could have another swing higher at some stage. Overall, I think sticking to the Euro looks the easiest trade – if such a thing exists! Note the bearish outside day in EurUsd. In the short-term Cable and the Aud$ look a bit heavy, which US$Chf looks ok.

The US stock indices looks as though they could face some potential downside action, while Gold/Silver seem to be building some upside momentum although they will face headwinds if we do see a stronger US$.

On the crosses, EurAud seems to be turning higher, while AudNzd looks heavy. Of the two, I would rather be on the AudNzd horse given the view on the Euro.

Sell EurUsd @ 1.1670. SL @ 1.1720, TP @ 1.1520

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*Trade of the day: 6/15/2018 1:48 AM (AET)                        

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