Although we could see a bit of a bounce for the US$ on Monday, the overall bias for it remains rather negative as we head towards Wednesday’s FOMC Meeting and then Friday’s US Jobs/NFP/Average Hourly Earnings data. Thus, it would seem that selling the dollar into strength against most currency counterparts, with the possible exception of the Kiwi, would seem to be the plan for the next 24/48 hours.
US Stocks look set to keep making ever-new highs but the charts are becoming very stretched and a decent correction is overdue. The ASX also seems set to head higher in the near term although the longer term charts are rather uninspiring.
WTI still looks good for further gains and buying it at around 65.00/50 would still seem to be the plan. I think Gold/Silver are probably also due to resume their trend higher although the charts are yet to provide any real confirmation of such a move.
*Trade of the day: 1/27/2018 9:56 AM (AET)……
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Sell EurUsd @ 1.2460. SL @ 1.2505, TP @ 1.2325
Buy EurUsd @ 1.2320. SL @ 1.2270, TP @ 1.2450
Sell US$Jpy @ 109.40. SL @ 109.80, TP @ 108.30
Sell GbpUsd @ 1.4220. SL @ 1.4290, TP @ 1.4110
Buy GbpUsd @ 1.4085. SL @ 1.4025, TP @ 1.4300
Buy AudUsd @ 0.8050. SL @ 0.7995, TP @ 0.8160