16 Jan: Trend table outlook for FX, Commodities, Indices.

By | January 16, 2018

The steep selloff in the US$ looks set to continue in the coming session, and looking for levels to do so does still seem to be the plan. The crosses are probably best left alone as they generally look rather choppy while all the focus remains on the dollar.

The long term trend in the US stockmarkets is firmly in place although the short term momentum indicators for both the S+P and the DJI do hint at the chance of a pull back, so buying dips may be prudent. The ASX actually looks rather heavy right now so a cautious tone is required.

While the US$ remains under pressure the metals should continue to benefit although Silver is running into strong resistance at current levels. If 17.50/60 can be taken out we may see an acceleration higher. Elsewhere, as we said before, WTI looks set to test 65.00+, which is not so far away now, above which could see a move towards 66.50

*Trade of the day: 1/15/2018 7:11 AM (AET)……

Buy EurUsd @ 1.2200. SL @ 1.2150, TP @ 1.2350

Buy WTI @ 64.00. SL @ 62.90, TP @ 66.00

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