5 July: Trend table outlook for FX, Commodities, Indices

By | July 5, 2018

After the US holiday, trading opportunities seem rather thin on the ground and it may be best to wait for the US data to appear later today before becoming too involved. After that, all eyes will turn to the trade war which is about to escalate and then on Friday, to the US employment data.

Sterling looks as though it could make further gains against the dollar although on the crosses it looks less clear, while the Kiwi looks set to remain heavy in the medium term, both against the US$ and also the Aud, so trading that from the short side is preferred.

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*Trade of the day: 7/5/2018 7:07 AM (AET)                             

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

Buy GbpUsd @ 1.3180. SL @ 1.3130, TP @ 1.3300

Sell NzdUsd @ 0.6800. SL @ 0.6850, TP @ 0.6700