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