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

By | June 29, 2018

Although the currencies have been rangebound today, the longer term charts still suggest that the US$ may have further gains ahead of it in the days ahead so I would looking to buy dips, with the Euro, Sterling and Kiwi all looking rather vulnerable.

US Stocks may have further near-term upside potential, but again, the longer term charts suggest lower levels ahead. The ASX looks positive but today is the final session before the EOFY, so we could see some profit taking. Caution is warranted, although the overall trend still points higher.

In the commodities, Gold still looks sick, while WTI, although in a strong uptrend, which looks set to continue next week, is currently becoming overbought, so I would stand aside and looks to buy dips.

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*Trade of the day: 6/29/2018 7:36 AM (AET)                           

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

Sell Gold @ 1260. SL @ 1270, TP @ 1240

Sell EurUsd @ 1.1600. SL 1.1640, TP 1.1500

Sell AudUsd @ 0.7400. SL @ 0.7450, TP @ 0.7280