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

By | June 5, 2018

The risk-on mode seen on Monday seems set to continue, at least in the short term, with the US$ seemingly under some pressure heading into Tuesday against the Euro, Aud$ and the Kiwi. How long this will last for is questionable, although the dailies do seem to be turning negatively against the dollar and so it may be that it remains under pressure for much of the week. Stock markets also look mildly positive in the short term, although further out it would seem more likely to remain a choppy range trade. Having broken down through the rising trend support at the end of last week, WTI looks heavy on the longer-term charts and maybe worth a sell on rallies.

On the crosses, the Aud$ looks as though it could retain some upward pressure against the Euro and Cable, while EurJpy also seems to have put in a medium-term base, with some upside potential to come.

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 *Trade of the day: 6/5/2018 08.00 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