A fairly mixed outlook today, although short term US$ strength looks to be in order (against Eur, Chf Aud) but I would not be getting too carried away ahead of Friday’s US jobs data. Elsewhere the clearest signals appear to be in oil, where WTI looks increasingly heavy.
Keep an eye on Gold, which is doing nothing and could continue to do so, although a break of support at 1260 could see a quick run towards 1240/50. Using at stop entry at around 1258 may be a worthwhile plan. Silver has more momentum and may be leading the way for gold and so could be a better trade.
*Trade of the day: 12/7/2017 8:33 AM (AET)……
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Buy US$Chf @ 0.9880. SL @ 0.9840, TP @ 0.9980
Sell AudUsd @ 0.7580. SL @ 0.7610, TP @ 0.7490
EurUsd – Range trade 1.1760/1.1830
US$Jpy – Range Trade 111.65/112.80
NzdUsd – Range trade 0.6240/0.6900
Sell WTI @ 56.70. SL @ 57.70, TP @ 54.70
Sell Silver @ 16.25. SL @ 16.70, TP @ 15.60