The year begins with the US$ under pressure on all fronts, and it would seem that his could continue in the medium term, particularly against the Euro, Chf and the commodity bloc currencies. In the shorter term though we may see a bit of a correction higher which would allow for better levels to sell it. Stocks appear to have some downside momentum ahead although it will be the NFP on Friday that will provide the overall direction heading into next week and until then we may chop around sideways. The commodities seem to have further upside in the medium term but will take their direction from the dollar. The crosses are currently rather neutral and probably best left alone.
*Trade of the day: 1/2/2018 7:17 AM (AET)……
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Buy EurUsd @ 1.1950. SL @ 1.1895, TP @ 1.2085