6 Dec: Trend table outlook for FX, Commodities, Indices.

By | December 6, 2017

The US$ looks to be picking up a little speed today, although ahead of Friday’s US jobs data it may not move too far from the current levels. I prefer to be long dollars against the Euro and the Chf and like to sell the Aud$ into strength. On the crosses, Sterling looks set to head higher in the medium term although some choppy Brexit related headlines will dominate the near term action. I like being long Sterling against both the Aud and also against the Euro.

Stocks are beginning to look increasingly heavy but we have been here before and I would leave a tight SL on any short positions. The ASX is sitting on strong 5950 support but a break could lead to 5920/00.

Silver seems to be leading the metals lower, and if Gold breaks 1260 it could produce a quick run to 1240/50.

*Trade of the day: 12/6/2017 6:55 AM (AET)……

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

Buy GbpUsd @ 1.3385. SL @ 1.3335, TP @ 1.3550

Buy US$Chf @ 0.9850. SL @ 0.9800, TP @ 0.9945

Sell AudUsd @ 0.7630. SL @ 0.7660, TP @ 0.7550

EurUsd – Range trade 1.1770/1.1850

US$Jpy – Range Trade 112.25/113.10

NzdUsd – Range trade 0.6840/0.6910

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