10-Aug-17: Trend table outlook for FX, Commodities, Indices.

Some short term US$ weakness seems possible today although I don’t think we see a great deal of action, in the absence of any major data, unless the US-Neutral/North Korea rhetoric gears up. Gold still looks as though it may have some short term upside momentum, which underlines the soft dollar scenario. That aside it is all a… Read More »

10 Aug: Forecast: FX: US$/Majors

  EURUSD: 1.1759 24 Hour: Neutral – Possibly sell short term strength Medium Term: Mildly Bearish EurUsd has had a choppy session, with the crosses driving much of the price action, particularly EurChf and EurJpy, which both headed sharply lower. EurUsd did see a brief spike below 1.1700, reaching 1.1688 although it quickly turned higher again and is… Read More »

9th August -Fire and Fury – Lets sell risk !

The North Korea Tensions stepped up in no uncertain terms with Trump wanting to unleash “Fire and Fury” and North Korea looking at taking Guam off the map.  S+P which looked like breaking range highs, reversed with serious momentum, to set up a classic bull trap. On daily charts it also printed a nice bearish outside range day….… Read More »

9-Aug-17: Trend table outlook for FX, Commodities, Indices.

It has been a mixed session for the US$ although the medium term charts seem to suggest that we could see further strength against most pairs in the coming sessions, with the possible exception of the Yen which looks set to remain in demand on safe-haven grounds and on growing risk aversion. An interesting point today was the… Read More »

9 Aug: Forecast: FX: US$/Majors

  EURUSD: 1.1747 24 Hour: Neutral – Possibly sell short term strength Medium Term: Mildly Bearish EurUsd headed down to 1.1714 on Tuesday, in thin conditions, after the release of data showing that the US employment market continues to tighten. The JOLTS figure today showed that  U.S. job openings, a measure of labor demand watched by the Fed,… Read More »

8th August Aussie – Potential Head and Shoulders

Aussie short term charts starting to look ominous. Potential head and shoulders formation with neckline at 0.7890. A break of this chart formation will want minimum initial targets 150 pts lower…. so down to 0.7750 support. This level was previous multi year range highs where price aggressively broke out from. Markets like to retest important break levels so… Read More »

8 Aug: Forecast: Stock Indices, Commodities

  S&P: 2477 24 Hour: Neutral Medium Term: Neutral No change in view. The S+P traded another tight 2471/77 range on Monday. The daily momentum indicators neutral and give little hint either way despite the DJI making consecutive new highs. Further gains would seem possible in the days ahead, although the short term charts are flat on Tuesday… Read More »

8 Aug: Forecast: FX: US$/Majors

  EURUSD: 1.1794 24 Hour: Neutral – Possibly sell short term strength Medium Term: Mildly Bearish A tight range has seen the Euro use 1.1800 as a pivot on Monday, with much the same likely again on Tuesday, leaving the outlook unchanged. The short term charts have now unwound their oversold condition and another rangebound session may be… Read More »