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

By | June 6, 2018

It has been a choppy day, without too much direction although the US$ remain under some mild downside pressure. There does not seem to be much follow-through though and in the absence of any major data, today may be a similar type of session. Ideas are rather thin on the ground right now, with WTI looking to be the only really decent trade, and likely to come under further downside pressure. Elsewhere – be nimble. Pick a pair and then the range. Cable may be about to nudge a bit higher although one doubtful Brexit headline would soon have it back in its box at the bottom of the range.

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*Trade of the day: 6/6/2018 5:49 AM (AET)                          

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

Buy EurUsd @ 1.1600. SL @ 1.1550, TP @ 1.1700

EurUsd: range trade. 1.1650/1.1770.